Biotech and pharmaceuticals company PharmAust (ASX: PAA) is set to launch a new venture which will advance disruptive technology that can convert waste such as plastics and rubber tyres into valuable fuels and agricultural growth stimulants.
The novel technology has been developed by US-based Australian, Ken Anderson who is the Founder and Chief Technology Officer of Themaquatica Inc, and uses oxidative non catalytic dissolution to turn waste into fuels.
The new venture, named Perren, will be established in partnership with Obsidian Minerals with Colin La Galia to be appointed inaugural CEO. Upon launch, Perren will be 50% owned by Obsidian and Epichem, a wholly owned subsidiary of PharmAust.
“There are many things this process may be able to convert. We are excited to learn more of its capabilities and applications,” said La Galia.
“The technology could make a significant contribution in our local capacity to deal with waste and produce diesel, liquid fuels, biofuels, liquid fertilisers and biostimulants.”
“The flow reactor has the potential to help with the problem of what to do with the waste produced in WA. The flow reactor may help WA’s focus on sovereign capability to produce our own ethanol for our PPE requirements in Australia including the manufacture of hand sanitiser. It can be scaled up for a range of industry partners and create employment opportunities in WA and Australia moving forward.”
The venture is currently seeking government grants and funding to create the benchtop reactor but once it is online, it will use oxygen and water at high temperature and pressure to break down input materials and form useful end products.
The carbon-neutral process has the potential to convert plastics into renewable fuels and useful chemicals, rubber tyres into liquid fuels and valuable chemical products, and agricultural waste into cellulosic ethanol and agricultural biostimulants.
Further applications may be applied to the mineral recovery secretary as well as enhancing the process of carbon storage in soils.
Although the tech is entirely different, the repurposing concept follows a similar theme of PharmAust’s wider business which specialises in repurposing marketed drugs to lower the risks and costs of development.
“We see this as a low cost but high potential initiative in a very scalable and disruptive business that may have multiple uses and customers,” said PharmAust Chairman, Roger Aston.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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