- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Fireweed Metals
Purpose Bitcoin ETF
Chariot Corporation
Frontier Energy
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
American Manganese Produces Cathode Precursor Material Directly from Recycled Lithium-ion Battery NCA Cathode Waste
RecycLiCo Battery Materials Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
RecycLiCo Battery Materials
Overview
Demand for the batteries necessary for clean energy technologies is expected to skyrocket in the coming decades, and analysts are already questioning if supply will be able to keep up. The problem is exacerbated by supply chain issues, with China controlling more than 50 percent of total market share in the processing of nearly all battery minerals, except nickel and copper.
Miners and battery manufacturers are setting ambitious goals to keep up with demand, but there’s another option many overlook: recycling and upcycling. Analysts project lithium-ion battery capacity could reach 5,500 gigawatt-hours by 2030, up five-fold from 2021. Every watt-hour will eventually need recycling, whether right away or at the end of its life. Battery recycling is included in the US government’s National Blueprint for Lithium Batteries, as it strengthens the entire domestic supply chain. Innovative recycling technologies are emerging to feed end-of-life batteries and production waste back into the manufacturing process, creating new opportunities for investors to capitalize on the electrification revolution.
RecycLiCo Battery Materials (TSXV:AMY) is a critical metals company focusing on upcycling and recycling lithium-ion battery waste and end-of-life batteries into high-value, battery precursor cathode active materials (pCAM) and lithium chemicals. The company has invented a closed-loop RecycLiCo™ Patented Process to extract materials for direct integration into the re-manufacturing of new lithium-ion battery materials. RecycLiCo currently holds 10 granted patents, including two recently granted patents from Australia and Japan.
RecycLiCo’s pilot plant has already tested samples of black mass (shredded end-of-life batteries) and battery production scrap from multiple third parties and has proven the production of high-purity lithium and pCAM. The upcycled product was tested in new battery cells, which achieved equivalent performance characteristics of commercial materials from mined sources.
The lithium carbonate regenerated from recycled battery waste using RecycLiCo's patented process has successfully been qualified by C4V's Phase 1 Supply Chain Qualification program through testing in battery cells. New York-based C4V is a lithium-ion battery technology company that creates next-generation storage materials with expertise in Gigafactory solutions. Through C4V's testing, RecycLiCo's lithium carbonate has been converted to cathode material and assembled into battery cells. The battery cell tests demonstrated good capacity and stability throughout cycle testing. These tests meet C4V's rigorous benchmarks and affirms that the quality of RecycLiCo's recycled lithium rivals that of mined lithium, positioning RecycLiCo at the forefront of sustainable battery material production.
The conventional supply chain for battery metals is complex, requires significant global transportation, and is linearly dependent on new raw materials. RecycLiCo’s technology sidesteps this complex supply chain by processing battery production scrap and end-of-life batteries directly into high-value and specifically engineered materials that manufacturers require, closing the supply chain loop. The RecycLiCo™ Patented Process requires minimal processing steps and provides more than 99 percent extraction of lithium, cobalt, nickel and manganese.
RecycLiCo’s demonstration plant is designed with a 500 kg/day processing capacity of waste battery materials, and is intended to test scaled-up operating conditions to achieve optimum process configuration and commercial plant design. Testing has resulted in the production of bulk quantities of battery-grade lithium carbonate from an industrial feed of cathode scrap. The company achieved 163 percent of the designed processing capacity for lithium-ion battery cathode scrap. The leach section of its technology also achieved more than 99 percent extraction of lithium, nickel, cobalt and manganese from lithium-ion battery production scrap.
RecycLiCo has delivered samples of its battery-grade lithium carbonate and lithium hydroxide to battery manufacturers in Japan and South Korea for a technical review and to explore potential business partnership opportunities.
The company entered a 50-50 joint venture with Zenith Chemical Corporation to build a 2,000-metric-ton-per-year lithium-ion battery recycling plant in Taiwan. Estimated to cost US$25 million, the initial plant will be dedicated to processing and converting lithium-ion battery waste into valuable resources such as pCAM, lithium hydroxide monohydrate and lithium carbonate.
The company continues to pursue joint ventures with strategic partners that can co-locate the recycling technology alongside the manufacturer’s facility, eliminating the need for additional transportation.
RecycLiCo’s recycling technology has undergone a life cycle assessment conducted in accordance with ISO standards and was critically reviewed by independent experts. The results indicate a dramatic reduction in global warming potential, demonstrating a 62 percent reduction over competing hydrometallurgical battery recycling methods.
RecycLiCo is led by a strong management team and advisory board with extensive experience in the natural resources industry, process development projects and international finance. The impressive roster of leaders and advisors creates additional confidence in the company’s ability to fully develop and commercialize its transformative technology.
Company Highlights
- RecycLiCo is a critical metals company focusing on developing advanced technology for recycling and upcycling battery production waste and end-of-life batteries, closing the loop of the conventional supply chain of battery metals.
- The company has successfully demonstrated its process at its demonstration plant by multiple samples from multiple third parties.
- RecycLiCo continues to conduct technology testing and development at its 6,700-square-foot demonstration plant.
- The company has achieved several milestones, including 99 percent leach extraction of lithium, nickel, cobalt and manganese.
- RecycLiCo signed its first commercial joint venture agreement with Zenith Chemical to build a 2,000-tonne/year recycling plant in Taiwan using RecycLiCo’s process.
- The company is pursuing commercialization of its patented process via joint ventures with strategic partners.
- RecycLiCo’s process has undergone an ISO-compliant life cycle assessment (LCA) reviewed by independent experts. The LCA indicates a substantial reduction in global warming potential compared to mining and other hydrometallurgical processes.
- The company produced and delivered NMC-811 cathode precursor samples to its active third-party collaborators in North America, Europe and Asia.
- The company delivered samples of its battery-grade lithium carbonate and lithium hydroxide to battery manufacturers in Japan and South Korea
- RecycLiCo's recycled-upcycled precursor cathode active material was successfully used by a Korean cathode manufacturer to create battery cells that demonstrate the same level of performance as commercial precursor material.
- Lithium carbonate regenerated from recycled battery waste using RecycLiCo's patented process has successfully been qualified by C4V's Phase 1 Supply Chain Qualification.
- The Australian and Japanese patent offices recently issued respective patents to RecycLiCo's lithium-ion battery recycling process, bringing the company's total global granted patents to 10, with six additional patent applications underway.
- An experienced management team and advisory board to lead the company’s commercialization strategy.
Key Project
RecycLiCo™ Patented Process
Lithium-ion battery production can experience high scrap rates. These scraps contain valuable critical metals and represent a significant loss to manufacturers. Additionally, end-of-life batteries undergo mechanical size reduction and become black mass. The RecycLiCo™ Patented Process recycles and upcycles both production scrap and black mass for reintegration into the manufacturing process.
Project Highlights:
- Significant Improvement on Existing Methods: Not every hydrometallurgical recycling process is identical. RecycLiCo’s process requires fewer steps, produces higher-value materials, and has demonstrated a significant 62 percent reduction in global warming potential.
- Direct Manufacturer Integration: The RecycLiCo™ Patented Process can be integrated within manufacturers’ facilities, eliminating the need for additional transportation. The company is ready to scale to commercial level to pursue joint venture agreements with strategic partners.
- Both Recycling and Upcycling: The company’s technology recycles NMC, NCA, LCO and LMO battery chemistries and provides more than 99 percent leach extraction efficiency of lithium, nickel, manganese and cobalt. Additionally, its process upcycles extracted battery materials into valuable cathode precursors, such as NMC532, NMC622 and NMC811.
- The recycled-upcycled precursor cathode active material was successfully used by a Korean cathode manufacturer to create battery cells that demonstrate the same level of performance as commercial precursor material. Battery cell performance was validated using industry-standard metrics and benchmarked against multiple other recycled precursor and commercial precursor products.
Management Team
Paul Hildebrand - Chairman of the Board
Paul Hildebrand is associate counsel at Lidstone & Company. He is the head of the law firm’s litigation department. He won the Gold Medal in law at the University of British Columbia in 1980. Hildebrand has a doctorate in economics in addition to his law degree and master of science in mathematics. For nearly 29 years, Hildebrand has practiced law in the area of complex litigation, including a 12-year stint with McAlpine & Company, one of the leading complex litigation firms in Canada. He is responsible for the conduct of our local government clients’ litigation matters, including defense of claims, insurance matters, suing other parties, injunctions, appeals, and other litigation-related matters. He also has expertise in arbitration, mediation and conciliation. He has done securities work, including financings for public and private companies and real estate transactions.
Richard Sadowsky - Interim CEO
Richard Sadowsky is a lawyer and consultant based in New York with several decades of experience in complex transactions and investment banking. He was previously the acting CEO of Voltari Corporation (a NASDAQ-listed company) and a partner of SNR Denton and Rubin Baum LLP. Sadowsky also worked as an investment banker with CIBC World Markets, stationed in New York.
Shaheem Ali BBA - Chief Financial Officer and Director
Shaheem Ali is a finance and business management professional with 10 years of experience in operations management, full cycle accounting, systems development, and people management. He has a proven record of implementing financial and operational processes, reducing operations costs, and improving internal controls with Alderwoods Group, where his experience includes governance and regulatory fund compliance with various states.
Andris Kikauka - Director
Andris Kikauka is a graduate of Brock University, St. Catharines, Ont., with an Honors Bachelor of Science in Geological Sciences. He is a member of the Geological Association of Canada and is registered in the Province of British Columbia as a professional geoscientist. Kikauka has practiced his profession for thirty-five years in precious and base metal exploration in the Cordillera of Western Canada, working for Anaconda Canada Exploration (1980-1984), Skyline Explorations, Inel Resources, Gulf International Minerals (1985-1989); in South America working for Carson Gold (1990); in Mexico and Guatemala working mineral exploration projects for Francisco Gold and Almaden Minerals (1996-2006); and for three years in uranium exploration in the Canadian Shield working for Rayrock Mines and Uran-Canada (1977-1979).
Rod Langtry - Director
Rod Langtry is the president and CEO of Cascade Raider Holdings who specializes in negotiating multi-year contracts with essential corporations, including utilities, construction companies and ports. His nearly 30-year experience in the industrial, construction and hardware distribution sector has led him to grow his company through partnerships with premium, reputable industrial and safety companies. His career began in Alberta in 1994, where he embarked on his industrial distribution journey. In 1997, he returned to British Columbia, joining Cascade Distributors where he built his extensive sales and operational background and the ability to create a clear and concise leadership direction. In 2011, Langtry merged Cascade Distributors with Raider Hansen in 2011 and became the President & CEO. Since then, he has developed a strong merger and acquisition skillset. He previously served in the board of directors of the Vancouver Regional Construction Association.
Kurt Lageschulte - Director
Kurt Lageschulte is a partner and senior analyst at Broadbill Investment Partners, LLC, an investment firm with offices in New York, Florida and California, and currently has $130 million of assets under management across four managed funds. Lageschulte is a founding partner at Broadbill and was previously employed as a senior analyst with Aspen Advisors from 2002 to 2010. Lageschulte has worked as an advisor and active member of a number of committees. Most recently, he has advised the special committee of the Penn Treaty American Company board in a complex negotiation with industry regulators. His experience in the energy, renewable and mining industries, coupled with significant expertise in the capital markets, will enable him and the Broadbill team to help RecycLiCo reach its goals in the coming years.
Teresa Piorun - Senior Corporate Officer
Teresa Piorun has been with the Reaugh Group of Companies for thirty years. Piorun is a senior corporate officer with wide-ranging responsibilities, serving as a focal point for communication with the board of directors, senior management, and the company’s shareholders, and she occupies a key role in the administration of critical corporate matters. She is the confidant and advisor to the CEO and other members of senior management, particularly on corporate governance affairs.
Jochen Rudat - Advisor
Jochen Rudat has an illustrious background and reputation in the electric vehicle industry. He has spent 10 years working under Elon Musk, CEO of Tesla, where he helped launch Models S, 3, X and Roadster in Europe. Rudat was hired by Elon Musk to build a sales and marketing force in Europe that grew to nearly 300 employees during his tenure. Before Tesla, Rudat worked for several prominent car manufacturers such as BMW, Kia and Porsche. Most recently, he served as chief sales officer at Italian luxury carmaker Automobili Pininfarina to launch its electric hypercar, Battista. Moreover, Rudat is the founder of Electric Ventures, a consultancy service focused on investments in sustainable transport.
Shailesh Upreti - Advisor
Shailesh Upreti will lead an initiative to establish a lithium-ion battery giga-factory in New York.
Upreti is a well-respected lithium-ion technology expert and inventor of multiple breakthrough technologies. An IIT Delhi graduate, Upreti has worked closely with Professor Stan Whittingham in the past and holds multiple US patents and their foreign equivalents in more than 30 countries. In addition to his technical degree, he has a second masters in international business management in combination with extensive experience as an entrepreneur. Upreti has successfully brought more than five different technologies to market, including one in the material recycling space. His 16 years of extensive experience include bringing new products to market, business development, lithium-ion supply chain & industry networking, downstream processing, and investigating organizational performance gaps. He is well-integrated into the global battery industry and serves on various advisory boards. Upreti is particularly adept at defining corporate commercial objectives, and business support programs, and achieving organizational goals while bringing new technology to market.
Dr. Yi Hyon Paik - Advisor
Dr. Yi Hyon Paik, a renowned industry expert, brings a wealth of knowledge and experience in multinational companies, the electronic materials industry, and the energy storage sector.
With a distinguished career spanning several decades, Paik has held significant leadership positions in renowned organizations. He currently serves as a senior advisor at Ace Equity Partners, a position he has held since 2020. Previously, he was president and chief strategy officer of Samsung SDI Company, a publicly listed South Korean producer of lithium-ion batteries and electronic materials, where he oversaw various business units and played a pivotal role in driving strategic initiatives. Paik's tenure at Samsung Cheil Industries also saw him serving as executive vice president and head of the electronic materials business, where he achieved remarkable revenue growth and spearheaded successful portfolio management initiatives. Paik also worked at The Dow Chemical Company and Rohm and Haas as business group vice-president and president of electronic materials business.
5 Biggest Clean Energy ETFs in 2024
Exchange-traded funds (ETFs) have been gaining popularity in North America in a wide range of industries, including the clean energy sector, whose appeal is rapidly increasing.
For investors looking to gain exposure to the cleantech market, investing in individual stocks can be daunting considering the broad reach of this market sector, which includes renewable energy technologies such as wind and solar; battery technologies for electric vehicles and large-scale energy storage systems; agritech, water treatment and air purification systems; built environment technologies; carbon capture and green hydrogen. These are just some of the trends that will affect cleantech in 2024 and beyond.
ETFs have become so popular partially because they provide a safer way for investors to gain exposure to various industries while avoiding the volatility that comes with investing in individual stocks.
Below is a look at the five top clean energy ETFs to consider, ranked by total assets. All numbers and figures were gathered using ETFdb.com and were current as of February 29, 2024. Read on to learn more.
1. iShares Global Clean Energy ETF (NASDAQ:ICLN)
Total assets: US$2.477 billion
The iShares Global Clean Energy ETF was created on June 24, 2008, and has a large portfolio of domestic and international stocks.
An analyst report on the ETF states that it "likely doesn't deserve" a large weighting in an investor's long-term portfolio. It suggests that the fund could be useful as a "satellite holding" that looks at a fraction of the market that is often overlooked by less focused ETFs.
Three of the iShares Global Clean Energy ETF's top-weighted holdings include: Enphase Energy (NASDAQ:ENPH) at 8.81 percent, First Solar (NASDAQ:FSLR) with a 7.64 percent weighting, and Nextracker (NASDAQ:NXT) at 4.93 percent.
2. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN)
Total assets: US$837.32 billion
The First Trust NASDAQ Clean Edge Green Energy Index Fund, which officially came into existence on February 14, 2007, is a "unique member" of the alternative energy category, according to ETFdb.com. Why? Because it invests in companies that have interests in different green energy subsectors, such as biofuels, solar energy and advanced batteries.
ETFdb.com also states that because of this ETF's focus, it may be appealing to investors looking for broader exposure in the alternative energy sector. Three of its highest-weighted holdings are ON Semiconductor (NASDAQ:ON) at 8.83 percent, First Solar at 7.75 percent, and Tesla (NASDAQ:TSLA) at 6.93 percent.
3. Invesco WilderHill Clean Energy ETF (ARCA:PBW)
Total assets: US$366.32 million
Begun on March 3, 2005, the Invesco WilderHill Clean Energy ETF focuses on clean energy companies using green and renewable energy and technologies that help with cleaner energy.
Currently this ETF's top-weighted holdings include Nextracker at 2.37 percent, Solid Power (NASDAQ:SLDP) at 2.12 percent and American Superconductor (NASDAQ:AMSC) at 2.08 percent.
4. ALPS Clean Energy ETF (ARCA:ACES)
Total assets: US$230.22 million
The ALPS Clean Energy ETF was formed fairly recently, on June 29, 2018. The majority of the companies in this ETF are based in North America. The top three holdings of the ETF are Enphase Energy at a weight of 6.13 percent, Itron (NASDAQ:ITRI) at 5.90 percent, and Albemarle (NYSE:ALB) at 5.75 percent.
5. SPDR S&P Kensho Clean Power ETF (ARCA:CNRG)
Total assets: US$213.84 million
The SPDR S&P Kensho Clean Power ETF was launched in October 2018 and tracks companies whose products and services are driving innovation in the clean energy sector, including the areas of solar, wind, geothermal and hydroelectric power.
The fund currently has 51 holdings. The top three by weight are Nextracker at 3.71 percent, Constellation Energy (NASDAQ:CEG) at 3.37 percent and General Electric (NYSE:GE) at 3.13 percent.
This is an updated version of an article originally published by the Investing News Network in 2018.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Half Yearly Report and Accounts
Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Half-year report.
Results for announcement to the market
Dividends
There were no dividends paid, recommended or declared during the current financial period.
Comments
The loss for the Group after providing for income tax amounted to $3,368,165 (31 December 2022: $2,664,912).
Revenues decreased 5.5% compared to 1H23 primarily due to reduced supply to the largest Activated Carbon pellet customer due to plant outages at that customer's facility.
The directors consider Underlying Earnings Before Interest, Tax, Depreciation and Amortisation (‘EBITDA’) and Underlying EBIT to reflect the core earnings of the Group. Underlying EBITDA and underlying EBIT are financial measures which are not prescribed by Australian Accounting Standards (‘AAS’) and represent the profit or loss under AAS adjusted for non-cash and significant items.
Click here for the full ASX Release
This article includes content from Carbonxt Group, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Carbonxt Group Limited – HY24 Results
Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Half-year report for the half-year ending 31 December 2023 and provides the following update on the key areas of activity for the period -- all numbers are in A$.
OPERATIONS OVERVIEW
- Half year revenue of $8.4 million, down 5% on HY23, primarily due to a once-off impact on sales to the group’s largest pellet customer following outages at that customer’s facility.
- Operations during the half-year highlighted by great progress on the construction of the Company’s flagship Activated Carbon production facility in Kentucky, jointly owned with Kentucky Carbon Processing, LLC (“KCP”). Commissioning of the facility is now underway with a significant production ramp-up to occur next quarter.
- Pellet sales accounted for 54% of revenue and 37% of sales volume. Carbonxt continues to see strong demand for industrial pellets which is very encouraging given the near-term entry into production at the Kentucky facility.
- Powdered activated carbon (PAC) accounted for 46% of revenue and 63% of sales volume – PAC revenue increased by 31% from HY23.
- HY24 gross margin of 44%, up from 28% in HY23 principally due to positive flow-on effects from the successful rollout of operating cost reduction initiatives, as well as a reduction in manufacturing shifts at Arden Hills. The production performance of the Company’s other major ACP customer continues to decrease and is at a record low manufacturing cost.
- Underlying EBITDA for HY23 was a loss of $286K, compared to HY23 EBITDA loss of $930K, an improvement of 69%.
FINANCIAL OVERVIEW [All results in AUD]
REVENUE
- Total revenue was down 5% from HY23, driven primarily by downtime at our largest customer who had significant equipment issues at their facility in the December quarter.
- Pellet revenue was down 24% from HY23 reflecting the aforementioned reduction in demand from our largest pellet customer.
- PAC revenue was up 31% from HY23 reflecting the impact of material price increases across the customer portfolio and the increase in volume from one existing customer of approximately $1.5 million per annum.
MARGIN
- 1H23 gross margin was 44%, an increase from the 28% recorded in 1H23, reflecting the improvements made to operating costs over the past year.
- As noted earlier, continuous improvement is evident at Arden Hills based on lower fixed plant costs on a per unit basis.
- Several initiatives are also underway at Black Birch to further lower operating costs, including changes to the underlying lease structure. Negotiations on this matter will continue over the next quarter but are expected to lead to noticeable ongoing improvements in profitability.
OPERATING COSTS
- Shipping costs to customers increased in 1H24 to 13% of sales, compared to 1H23 at 11% of sales. The higher shipping costs reflect a customer mix change (lower sales to a major pellet customer who is located close to our Arden Hills plant).
- Operating costs of $2.9m were up 15% on 1H23 primarily reflecting additional one-off expenditure associated with entering into the Kentucky investment.
KENTUCKY PLANT
- During this period, construction has been underway for the new activated carbon plant in eastern Kentucky, USA. The plant will have an initial capacity of 10,000 tons per annum, with the ability to expand to 20,000 tons per annum for a small additional investment.
- Carbonxt has contributed USD $5.5 million to NewCarbon Processing, LLC (“NewCarbon”), alongside its US partner KCP. Carbonxt holds a 35.5% ownership interest in NewCarbon as of 31 December 2023, with options to invest a further USD $4.5m to move to 50% ownership interest.
- Construction progress has been pleasing with the plant now moving into the testing of front- end equipment and processes. The final electrical activities are expected to be undertaken in March with the delivery of the control systems, prior to the commencement of production.
- Near-term sales efforts are well underway with a very positive reception being received by our former industrial pellet customers. The next step for nearly all prospective customers is to provide pellet samples from the facility. This is expected to continue over the next few months.
- The JV project provides Carbonxt with a unique opportunity to benefit from major investments in pollution reduction technologies across the US market.
Click here for the full ASX Release
This article includes content from Carbonxt Group, 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.
Appendix 4E
1. Results for announcement to the market
2. Dividend information
There were no dividends paid, recommended or declared during the current financial year or the previous financial year.
There is no dividend reinvestment plan.
3. Net tangible assets per ordinary share
4. Control gained or lost over entities
On 15 May 2023, Frontier assessed that it had lost control over Waroona Energy Inc (“WHE”) and deconsolidated its interest in WHE from the date this change occurred and as a result Frontier classified WHE as an associate.
On 14 December 2023 Frontier completed the acquisition of all of the outstanding shares of WHE that it did not already own or control and accordingly re-gained control over WHE from this date.
5. Details of associates and joint ventures
Not applicable.
Additional information supporting the Appendix 4E disclosure requirements can be found in the Annual Report which contains the Directors’ Report and the consolidated financial statements for the year ended 31 December 2023.
This report is based on the consolidated financial statements for the year ended 31 December 2023 which have been audited.
Click here for the full ASX Release
This article includes content from Frontier Energy, 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.
Frontier Energy Limited (ASX: FHE) – Trading Halt
Description
The securities of Frontier Energy Limited (‘FHE’) will be placed in trading halt at the request of FHE, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 29 February 2024 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from Frontier Energy, 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.
Carbonxt Group (ASX:CG1)
Overview
Activated carbon is typically derived from sources such as coconut husks and coal, and is among the most common ways to filter contaminants from both water and air.
Activated carbon is so named because the process by which it's produced oxidizes the carbon, 'activating’ a series of small, low-volume pores that considerably increase its surface area. There are a few different methods for producing the material, including carbonization, gas treatment and chemical treatment. It is also invaluable for a wide range of use cases across multiple industries, including healthcare, chemistry, agriculture, oil & gas and even food preparation.For large-scale industrial use cases, activated carbon typically comes in one of three forms: powdered, pellet and granular. Depending on how the material is treated post-oxidation, activated carbon can be tailored to a multitude of individual use cases. For large-scale use, material cost can range from US$2,000 per tonne to as high as US$6,000 per tonne, presenting a considerable opportunity in activated carbon.
Carbonxt Group (ASX:CG1) is positioned to take full advantage of that opportunity. An innovative manufacturer of custom activated carbon, Carbonxt has locked in a joint venture with US-based partner Kentucky Carbon Processing, forming the joint venture NewCarbon, and effectively expanding Carbonxt’s addressable market and gross margin.Much of this growth will be courtesy of a new Kentucky facility focused primarily on water treatment. This facility will leverage two pieces of legislation recently announced in the United States — the Environmental Protection Agency's (EPA’s) Clean Water Act and the Bipartisan Infrastructure Deal. The former aims to reduce pollution caused by polyfluoroalkyl substances (PFAS), while the latter provides a total of $10 billion in funding to help companies reduce PFAS contamination.
PFAS are a set of widely-used chemicals that take an incredibly long time to break down. Found in soil, water, air, fish and humans, multiple studies have linked PFAS to severe health problems, which include birth defects, developmental delays, thyroid disease, high blood pressure and increased risk of several types of cancer.
It’s why the EPA is cracking down hard on these chemicals, with additional regulations being proposed to further protect communities from the serious effects of PFAS. These regulations, which are set to begin enforcement between 2024 and 2028, will require the majority of companies in the water industry to upgrade their filtration systems.
Carbonxt provides products specifically targeting PFAS removal. Through the NewCarbon joint venture, the company intends to convert a waste-to-energy plant into an activated carbon plant, considerably increasing its production capacity and allowing it to directly serve the roughly 50,000 water utilities in the United States, which together account for roughly 50 percent of the granular activated carbon market.
If all goes as planned for Carbonxt, it will fully disrupt that market, unseating the current leader.
Company Highlights
- Carbonxt Group is a manufacturer of patented activated carbon products designed to treat toxic pollutants in both air and water.
- Carbonxt currently has an addressable US market of US$290 million with a 5 percent market share. Its recently finalized joint partnership with Kentucky Carbon Processing has the potential to increase this market to more than $900 million.
- Together, Kentucky Carbon Processing and Carbonxt will form the joint venture company NewCarbon, affording Carbonxt several advantages:
- Increased US-based production capacity to over 20,000 tons per annum with the potential for further expansion.
- Control over input costs, considerably improving base margins.
- High-quality raw materials.
- In the near future, much of Carbonxt's growth will be driven by the United States Environmental Protection Agency's increasing regulation of PFAS.
- There are currently 50,000 water utility companies in the United States, 4,000 of which serve 10,000 or more customers. Collectively, they account for roughly 50 percent of the granular activated carbon market with annual expenditures of over US$300 million.
- Carbonxt is well-positioned to serve these companies, providing activated carbon pellets that offer improved filtration with a lower pressure drop as a replacement for granular activated carbon.
- In addition to a highly experienced leadership team, Carbonxt’s strong revenue and earnings growth potential from NewCarbon make the company an attractive investment prospect.
Core Product
High-performance Activated Carbon
Carbonxt designs specialized activated carbon products for its customers, which consist primarily of industrial sector organizations and power utilities. Available in pellet and powder form, the company's oxidizing, non-brominated activated carbons are non-corrosive and designed to remain efficient throughout their entire lifecycle. Although Carbonxt’s origin and listing is in Australia, its products are manufactured and distributed exclusively within the United States.
Carbonxt is currently focused on developing an activated carbon manufacturing facility in Kentucky, the result of a joint partnership with Kentucky Carbon Processing. Once this facility is operational, water utility companies are expected to form a much larger part of its customer base. The facility is also expected to re-invigorate the company's industrial pellet market sales.
Highlights:
- Strong Market Outlook: Industry demand for powdered and pelletized activated carbon remains strong. Prices have trended considerably upwards over the past year and will likely continue to do so for the foreseeable future.
- Pricing Trends: Carbonxt's primary competitors in the activated carbon market have both announced price increases ranging from 15 to 40 percent. The company's activated carbon products have the potential to offer better filtration at a considerably lower price point.
- Looking Up: Carbonxt has also recently improved its existing carbon manufacturing facilities. This has translated to a more than 20-percent increase in gross margins in the last financial year, with further double digit percentage gains expected in FY24.
- Making a Good First Impression: Carbonxt's high-specification sample products have been well-received by end customers. Management is currently in talks with numerous water utilities to purchase capacity from the company's new facility once it comes online.
- Use Cases: Carbonxt currently manufactures activated carbon products for the following:
- Powdered activated carbons for mercury and flue gas component removal. Customers for this use case include coal-fired power plants, cement plants and industrial boilers & incinerators. Carbonxt manufactures a specialized activated carbon for each type of customer.
- Pelletized activated carbon for the removal of VOCs and hydrogen sulphide from gas streams.
- High-quality pelletized activated carbons designed to remove drinking water contaminants as well as taste and odor compounds.
Management Team
David Mazyck – President, NewCarbon (the Kentucky JV) and Director of Technology
Dr. David Mazyck is a world-leading expert on activated carbon (AC) and its applications including mercury capture. He has developed AC products for major multinational AC manufacturers and has regularly consulted them on technical issues. Mazyck is the former chairman of the Activated Carbon Standards Committee for the American Waterworks Association and has developed products for NASA.
He received his PhD in environmental engineering from Penn State University, where he also earned a PhD minor in fuel science.
Matthew Driscoll - Chairman
Matthew Driscoll has significant experience across several industries, including online technologies, financial services, fintech, cleantech, property and resources. He has more than 30 years’ experience in capital markets and the financial services industry and is an accomplished company director in roles across listed and private companies.
He has significant experience in international business growth, mergers and acquisitions, equity and debt raisings and building strategic alliances. His current directorships include NED Energy Technologies, NED Blina Minerals, NED Eco Systems, and NED Smoke Alarms Holdings.
Warren Murphy - Managing Director
Warren Murphy has led a large number of acquisitions and financings across the energy, resources and infrastructure sectors. This includes the development of over 2,000 MW of Greenfields power stations and the acquisition of over 3,000 MW of generation assets.
He was co-head of the Australian Infrastructure & Project Finance Group and Head of Energy at Babcock & Brown based in the Sydney office and led the development of Babcock & Brown’s energy sector capability in Australia and New Zealand, including the founding of Infigen Energy and its unlisted predecessor, Global Wind Partner, where he served as a director from inception until June 2009.
Murphy was also a director of the ASX-listed Alinta and Sydney Gas, as well as the unlisted Coogee Resources.
Dr. Regina Rodriguez - Senior Executive
Dr. Regina Rodriguez has a PhD from the University of Florida, where she received the prestigious National Science Foundation Graduate Student Fellowship. She currently sits as the chairperson of the Activated Carbon Standards Committee for the American Waterworks Association.
Rodriguez holds nine patents. Her leadership has resulted in one-of-a-kind sorbents and systems for power stations and water treatment.
Imtiaz Kathawalla – Independent Director
Imtiaz Kathawalla was a vice-president at NYSE-listed Cabot Corporation, a global specialty chemical company where he had a 27-year career. Kathawalla's most recent position with Cabot Corporation was as general manager of Cabot's purification solutions division. He ran the group's US$300-million global activated carbon business where he oversaw a material increase in EBITDA before managing the sale of the business to a large private equity group.
Nicholas Andrews – Independent Director
Nicholas Andrews has held the role of executive chairman and CEO at Magontec (ASX:MGL), an established business in the global magnesium sector. He is a member of the executive committee and serves on the board of the International Magnesium Association. Prior to his executive career, Andrews held several senior roles in the financial services sector across both investment management and investment banking.
RecycLiCo Battery Materials Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Steppe Gold Announces Board Changes
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.