Future Energy Investments (FEI) owns a patent protected plastics to fuel (p2fuel) technology. FEI is a company managed and significantly owned by Caason Group. A $500k FEI capital raise via redeemable or convertible notes is being conducted by Caason Group.
Caason Group has identified an opportunity to apply to Sustainability Victoria for grant funding and this capital raise will co-match their investment if successful. Regardless of the grant result, Caason Group will press ahead using the FEI funds for these fully costed initiatives:
- the completion of next phase laboratory experimentation
- next generation pilot plant design and engineering
FEI secured its proven p2fuel technology, engineering and know-how from Ozmotech in 2012. Ozmotech had previously invested $35m and operated a large-scale plant in Australia and Ireland.
Since 2013, Caason Group has pursued a patent protection strategy for FEI. The company uses K&L Gates, a global law firm specialising in patents and trademarks. Now, in late 2019, Caason Group is looking to complete Australian lab testing to prove the upper limits for processing contaminated and co-mingled end-of-life plastics.
Australia previously handballed its epidemic waste problem by shipping it to developing countries. But since 2017 – with China, Malaysia, Indonesia and India all rejecting Australia’s rubbish – the local waste management industry has been in crisis. Still today, the fallout surrounding failed recycling company SKM is dominating the news.
Craig Astill, Caason Group MD & CEO, said: “FEI’s plastics to fuel technology is incredibly timely and well positioned to address plastic waste stockpiling, recycling being sent to landfill and other related environmental disasters. Uniquely, FEI’s solution converts co-mingled end-of-life plastics to fuel continuously while containing emissions in a closed loop design.”