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Leaf Resources Ltd (ASX:LER) is engaged in the business of transforming materials to sustainable, useful as well as renewable products. The basic material used includes non-food plant biomass. By utilising the companyâs Glycell process, the conversion process happens in an efficient manner. By leveraging the bio-based innovation, the company happens to deliver value to the shareholders. Talking about the companyâs management, Mr. Ken Richards is the managing director of Leaf Resources. Mr. Jason Lowry is the companyâs chief operating officer and Mr. Tim Pritchard is the CFO or chief financial officer and company secretary of Leaf Resources.
Leaf Resources is listed on the Australian Securities Exchange or ASX under the symbol âLER.â   Â
On December 18, 2018, Leaf Resources (ASX:LER) came forward and made an announcement related to its Glycell process with help of the press release. As per the press release issued, the company has managed to attain a crucial qualification with respect to validation of Glycell process in pilot testing. This is with respect to testing on a fully integrated basis in Europe. Let us quickly understand what Glycell process does. This process helps in the conversion of the wastes of plants to the industrial sugars as well as other chemicals. The press release issued by the company has stated that the company has also joined hands with BPF or Bioprocess Pilot Facility. This engagement has been done by the company so that IDS or Integrated Demonstration Studies can be taken up. The IDS can incorporate hardware components as well as engineering with respect to the pilot scale testing.
As per the press release issued, the pilot testing which has been referred above happens to be the important part when it comes to validation program for technology. Considering the Leafâs proposed biorefinery project, the pilot testing happens to be an important input to design as well as financing requirements. The project which has been referred to here is in Malaysia. The company had stated that they have managed to wrap up the IDS processâ initial 2 phases.
The company had also made an announcement that they have signed a loan agreement which focuses on advance payment of the funds. These funds are to be given with respect to Australian R&D tax incentive and the agreement is with Radium Capital. The press release which was issued by the company also stated that, as a result of the loan agreement, the company had got $660,000 from Radium which happens to be the anticipated R&D tax rebate for the period of July 2018-October 2018.
Let us understand how Leaf Resources has performed today. On December 18, 2018, Leaf Resources ended the session at A$0.043 per share which implies a rise of A$0.003 per share or 7.5%. The market capitalisation of Leaf Resources stood at $12.15 million. Over the past six and three months, the stock has delivered the return of -42.86% and -38.46%, respectively. However, in the time span of previous one month, the stock delivered the return of -31.03%.
Despite the above muted stock performance, the group has been gaining attention in renewable space and has been able to garner few key agreements and expansion moves across different jurisdictions.
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