Subscribe to daily environment news





 

Click for news Click for pictures
National Tree Day

Planet Ark Home


Energy Developments (ENE.AX) seeks new CEO
Mail this story to a friend | Printer friendly version

AUSTRALIA: December 2, 2002


MELBOURNE - Australian renewable energy company Energy Developments is seeking a new chief executive just a month after further problems with its proposed waste to power process caused its share price to hit a 23-month low.


Paul Whiteman has stepped down from the role, but will remain a non-executive director, the company said in a statement.

Chris Laurie, chief executive of 9.99 percent Energy Developments shareholder Orion New Zealand Ltd, has been appointed acting chief executive.

Energy Developments also announced plans to try and find partners for its Solid Waste and Energy Recycling Facility (SWERF) in an attempt to move the project forward.

Late last month the company said a vital element of SWERF, the char gasifier, was damaged and testing of the process delayed at its Whytes Gully plant in New South Wales state.

"The company has now prioritised bringing the Whytes Gully SWERF plant to commercialisation without the secondary char gasification unit which has been the primary cause of the recent development delays," the company said in a statement last week.

"Expenditure on other SWERF development and marketing activities will be strictly limited until this has occurred."

SWERF recovers resources such as metals, glass and rigid plastics from the waste stream and then treats the remaining material using gasification. This produces syngas which is used to power spark ignition engines which generate electricity.

The char gasifier is used in the final stage of the gasification process.

Shares in Energy Developments closed at A$2.35 last week, well down on its record closing high of A$14.35 in November 2000.


REUTERS NEWS SERVICE



© 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters.
top

 
TODAY'S
ENVIRONMENT
NEWS

CANADA:
Canada Opposition Liberals Adjust Carbon Tax Plan

HAITI:
Cat 4 Hurricane Ike Fiercer, Hanna Strengthens

INDIA:
Small Quake Hits Near India-China Border - USGS

INDIA:
India Appeals for Families to Evacuate From Floods

NETHERLANDS:
Dutch Venue Makes Clubbing Environmentally Friendly

NORWAY:
Gull Sets Arctic Pollution Record for Birds

UK:
UK Approves Building of Major Offshore Wind Farm

US:
California "Water Bank" in Works Amid Drought

US:
Demand Seen Thin in First US Greenhouse Auction



previous day


This site developed by Frontline, and managed by Planet Ark using RPM-NT.

Site designed by Jon Dee @ Planet Ark.

Radiant