Wasabi Energy and Australian Renewable Fuels (ARF) have decided not to go ahead with a proposed merger but both companies claim theire growth outlook is strong.
Mineral exploration and energy technology company, Wasabi Energy Ltd, has raised $3.2 million through the sale of 4 million shares in Aviva Corporation Ltd at 80 cents each.
After a placement of 13.3 million shares, West Perth-based energy company Wasabi Energy Ltd will acquire a 50 per cent interest in a new company, after raising $400,000 from the placement.
