Greenvale Energy Ltd

Greenvale to Commence Test Program 6 on the Alpha Project, after receiving $1.175M R&D Rebate

Greenvale Energy Ltd (ASX: GRV, “Greenvale” or “the Company”) is pleased to advise that the Company has received $1.176 million in R&D rebates for the 2024 Financial Year. In addition to these funds, Greenvale expected to receive $250,000 from the sale of EP145 announced on 16 October 20241 in the coming weeks.


With the receipt of the R&D rebate, Greenvale has commenced the first stage of Test Program 6. Stage 1 seeks improve the work performed by the University of Jorden (UoJ) in Test Program 5 and optimise the processing conditions before Monash University commences the bulk sample test program.

UoJ will conduct the following test runs, from samples already held by UoJ:

1. A long reaction time (5 hours) without a catalyst, at maximum pressure and 370°C.

2. One experiment using THF instead of toluene, also under maximum pressure, at 400°C.

3. Testing catalyzed reactions aimed at maximizing yield and verifying the effect on viscosity (proposed catalysts: Fe, Sn, Zn, Cu).

It is Greenvale’s expectation that after completing these experiments, the Company would be in a position to proceed to produce bulk samples under the optimal conditions identified.

Mark Turner, former CEO of Greenvale, will manage the work on behalf of Greenvale as an Independent Contractor.


Click here for the full ASX Release

This article includes content from Greenvale Energy Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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