First Commercial Nano Tube Production for Australia

19 Jan 11

Shares in Eden Energy Ltd soared after the company said it would become Australia's first commercial producer of high strength carbon nanotubes by the end of 2011.

Eden Energy shares closed up 4.9 cents, or 56.98 per cent, at 13.5 cents after almost 10 million shares changed hands.

Eden Energy, which is involved in both alternative and conventional energy projects, on Monday said it had decided to this year scale up its initial carbon nanotube batch plant that was installed in Denver, Colorado last year.

The Perth-based company said there was strong demand for the nanotubes, which had a wide range of technological, construction and electronic applications.

"Our trial plant, which we used more to perfect the production and quality control process rather than focus on output, can probably produce up to about three tonnes of nanotubes a year," chairman Greg Solomon said.

"The scale-up, however, will take that capacity more to between 25-100 tonnes per annum.

"Commercially, our end of year focus is on emerging nanotube markets in the United States initially, but then progressively expanding to India, Asia, Europe and elsewhere."

Source: Australian Associated Press