Linc's syngas to diesel a world first
LINC Energy has delivered the first product from its gas-to-liquids demonstration plant in Queensland and completed a $17 million capital
raising, despite financial market turmoil.
The Queensland-based group said yesterday the introduction of underground coal gasification synthesis gas into a reactor to produce high-quality synthetic fuel was a world first.
UCG is the process of extracting coal from the ground through its transformation into a combustible gas for power generation, or as a feedstock in the production of diesel or fertilisers.
Line chief executive Peter Bond said: "This process provides the potential
for billions of tonnes of stranded coal resources to be converted into transport fuels in an environmentally acceptable way."
Shares in the company gained 50 cents, or 15.62%, to close at $3.70.
Linc said it would finalise plans for a facility with a capacity to produce 20,000 barrels per day of clean
diesel. -AAP
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