Engineering study update

Engineering study update

The next phase of engineering studies is already underway, with Advisian having developed with us an EOI document that has been distributed to a number of international vendors in the anaerobic digestion and torrefaction/carbonisation space. Turnaround time on detailed responses will be about 4 weeks, after which we can review these and make a ‘preferred vendor’ selection. The ultimate outcome of this initial Phase of activity is to work towards a ‘Basis of Design’ that we can take forward – concepts and talk are all great, but you need to have tech vendors and EPC partners who are actually able to deliver on their promise and have the experience, reference projects and financial backing to bring their solution all the way to us in western Vic! Hence, part of this process is not just soliciting info from them regarding their technology, but it also represents a preliminary commercial due diligence process to understand their financial capacity, shareholder base and governance approach. As you can imagine, this of course becomes important later on when it’s time to present the whole shabang to our investors with a view to raising project finance – we want to make sure we are progressing with those parties that can “take it all the way”, so to speak!

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