Building Up A Head Of Steam
Posted by Big Gav
Geothermal energy company Geodynamics has been in the press a lot lately, after successfully proving that their scheme to pour water down a 4.5km deep hole in the desert and have high-pressure steam come back up out of another hole actually works.
They've managed to get a sales agreement with Origin Energy (one of their major shareholders) so this unusual project looks like going ahead - next stage construction of a power plant. After holding shares in this company for a long time I baled out recently and missed the big jump (hold your tears back - I still made money on them). With a meagre $3 million in the bank there will no doubt be a big capital raising in the offing, so I expect there will be an opportunity to buy back in again coming up. The less risky way in is via Origin or Woodside (and if we're at the peak, these are worth having for their oil and gas reserves anyway).
Over in WA, Seapower Pacific are about to start testing their sea-bed based wave power technology. With the Pacific Hydro takeover battle in its final stages, there doesn't seem to be a way to buy into this unless you go over to the London AIM, where all good quality companies live (how is Bondy going flogging his Madagascan tar sands shares anyway)...
ARF is on track to complete construction of a commercial scale biodiesel plant in Australia. The first renewable fuel production facility will be located in Adelaide, South Australia, shortly followed by the commencement of a second plant in Picton, Western Australia. Each plant will produce at full capacity, 44.4 million litres of biodiesel per annum utilising low-grade tallow.
Biodiesel is in commercial production in countries world-wide because of its low emission levels and other environmental benefits. At present world wide production of biodiesel is approximately 3 billion litres per annum.
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