White Energy finds $42m and big brother in BHP

11 May 2007

Article Details
Source: Australian Financial Review
Author: Stephen Wisenthal

Summary

BHP Billiton has announced backing for White Energy's coal-conversion technology. It will invest $A42m as a seven-year unsecured convertible loan in return for marketing rights to the briquettes produced. White Energy's process, developed in conjunction with the CSIRO, uses drying and high pressure to transform inferior sub-bituminous coal into more energy-efficient briquettes. The process increases the energy available from the coal by 50 per cent. White Energy plans to build...