Waste management technology company AnaeCo has kicked off a project definition study for a 200,000 tonne per year waste treatment plant in South Australia.
The study will see AnaeCo consider the feasibility of deploying its patented waste treatment technology for a privately held Australian firm.
The exact location of the facility and identity of the firm cannot be disclosed due to confidentiality agreements, Anaeco said.
AnaeCo's waste treatment technology, the DiCOM system, is used to process organic waste into biogas for the generation of renewable energy and nutrient rich compost.
“We are pleased to have the opportunity to work with such a progressive company which understands the business of waste management and is able to move quickly,” AnaeCo managing director Patrick Kedemos said.
“The PDS is the first step on the road to the deployment of AnaeCo’s DiCOM solution; discussions have commenced in parallel on the commercial aspects of the project.”
At close of trade today, Anaeco shares were up 13.3 per cent, trading at 1.7 cents.