Eden Energy soars on deal with Indian Oil  

Posted by Big Gav in , , ,

The Australian has an (not entirely informative) article on the possible licencing of an Australian pyrolysis technology to Indian Oil - Eden Energy soars on deal with Indian Oil.

SHARES in Perth-based tiddler Eden Energy rocketed more than 250 per cent under heavy trade this morning after announcing a non-binding deal with Indian giant Indian Oil Corporation.

Under a term sheet signed in India this week, the Delhi-based company will farm-in to the development of a new pyrolysis technology jointly conceived by Eden and the University of Queensland.

Eden said the research will focus on the “commercial potential of a form of carbon believed to be the strongest structural material known to man”. ...

Under the arrangement, Eden will purchase the University of Queensland’s 50 per cent stake in the patents and intellectual property developed by the project in exchange for shares in the energy company.

Eden will then transfer this interest to India Oil after it has up scaled the technology to a pilot plant stage.

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