Synergen Met seeking to raise $25m in stock market listing
Seeking to raise $25m, the industrial technology company plans to commercialise its thermal plasma technology. The plasma technology can be applied in hydrogen production to Perfluoroalkyl and Polyfluoroalkyl (PFAS) destruction.
The Company's prospectus states:
"Through a combination of research, innovative ideas, trial and error in the lab and extensive field trials, the company has proven its ability to leverage its thermal plasma technology platform into multiple high-value applications."
A significant global problem has been PFAS contamination as the group of chemicals are used in a plethora of applications. This can be difficult and expensive.
Generating a directed flow of plasma, Synergen's plasma torch is the foundation of its technology.
The Company says:
"Plasma technology has been used in commercial and industrial applications for decades including in plasma cutting and arc welding, plasma spraying … and plasma waste pyrolysis.
Plasma heating can make vitrification and gasification cost-effective and eliminates nearly all of the pollution encouraged with combustion.
By offering the ability to break down feed stocks to molecular levels while controlling the operating environment of the system, the company’s thermal plasma technology represents a fundamentally new method of processing materials."
If $25m is raised, Synergen will have a market value of $125.5m on listing.
With a planned ASX listing in June 2022, Synergen will use the funds raised to advance its hydrogen rollout strategy and to build PFAS destruction facilities in Australia and the US.
Read the full The Australian article here.
Synergen Met is Brisbane-based company, founded in 2007 by Christopher Dunks and Geoff Duckworth. The Company has been developing a process which has multiple commercialisation streams, particularly in the environmental field.
The Company is a thermal plasma technology specialist. Synergen uses its technology to create sustainable solutions to environmental problems. Its multinational business is made up of a team of expert scientific minds, who have more than 150 years of collective experience working in the global mining, engineering, sustainability and renewable sectors.
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