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EnviroTech :: R&D

Canada's Lignol Energy becomes majority owner of Australia's largest biorefinery; production to restart by year-end

9:30 AM MDT | May 28, 2013 | Francinia Protti-Alvarez

Lignol Energy Corp. (LEC; Vancouver) has become majority shareholder in Territory Biofuels (TBF; Darwin, Australia) after it acquired an additional 2.67 million shares in the company for 1 million Australian dollars ($964,000) via a private placement offering, LEC announced. LEC will have an additional 16% of the issued shares of TBF on completion of the deal, raising its stake to 56%. LEC acquired an initial 40% in the business in April this year for A$1.18 million. LEC plans to restart TBF's biorefinery at Darwin, the largest such facility in the country, LEC...

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