15/09/2009 - 13:19

Eden surges on dual fuel system sale

15/09/2009 - 13:19

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Shares in Eden Energy have surged after an Indian tea-plantation company ordered the Perth-based company's dual fuel system that could see diesel use slashed among industries reliant on generator power.

Eden surges on dual fuel system sale

Shares in Eden Energy have surged after an Indian tea-plantation company ordered the Perth-based company's dual fuel system that could see diesel use slashed among industries reliant on generator power.

Eden announced today that the unnamed owner of the tea plantation had ordered three of its OptiBlend dual fuel systems for use on three of its extensive network of diesel generations that have an output of between 400 and 1,250 kilowatts.

Shares in Eden jumped 2.9 cents, or 46 per cent, to a high of 9.2c on the news, before settling at 7.5c at 14:55 AEST.

The OptiBlend can replace diesel with natural gas or other alternative fuels, which will reduce greenhouse gas emissions.

"This is a significant milestone in our efforts to roll out the OptiBlend system in the world's second largest country, where there is an enormous existing market of diesel powered generators already operating, a Government which has committed to ambitious targets for the replacement of fossil fuels with low-carbon alternatives, and where low-cost natural gas is becoming readily available," Eden chairman Greg Solomon said.

"The OptiBlend system has already been proven to dramatically reduce the operational and maintenance costs of diesel-powered generators, while significantly reducing their emissions of carbon dioxide and oxides of nitrogen - by over 75 and 30 tonnes respectively each year from a single 1,250 kilowatt generator.

"In a country like India, where there are literally hundreds of thousands of medium and large diesel generators producing baseload or backup power on a daily basis, the potential for the reduction of fossil fuel use and both greenhouse gases and smog-causing pollution is absolutely vast."

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