Welcome to FOY Group Limited
Australian Capital Territory Non-Recyclable Plastics to Fuel Facility
As previously announced to the ASX, FOY Group Limited has selected a site in the Australian Capital Territory to construct its first 200 tonne per day non-recyclable plastics to fuel facility. For an update on the project, including an interview with The Canberra Times, please click here.
Integrated Green Energy Limited
- JUNE 8, 2016: Fuel Production Begins at IGE’s Berkeley Vale Facility. IGE has advised that is has secured consent from Wyong Shire Council as of 3 June 2016 to operate the facility for the purpose of refining up to 2 million litres of co-mingled fuels per annum. Production has commenced in accordance with this consent.Co-mingled fuels are generated as a result of the following activities in the fuel industry:
- Pipeline purging
- Tank Cleaning
- Truck compartment draining
- Operator Errors
FOY/IGE has successfully forged relationships with fuel wholesalers that generate large volumes of co-mingled fuels. The Berkeley Vale facility will toll process these fuels back into their respective diesel and petrol components and return them to wholesalers as high grade road ready diesel and petrol.
This is a service based activity providing a steady stream of income with minimal risk.The Berkeley Vale facility is a key asset that will transfer into FOY upon completion of the Business Sale Agreement executed between FOY and IGE as announced on 9 February 2016.
- OCTOBER 23, 2015: Integrated Green Energy Limited has Executed a Term Sheet To Construct a Plastics to Fuel Facility in the USA. IGE has advised that it has executed a Term Sheet with a USA based company, GEP Fuel & Energy LLC (“GEP”) to Design and Construct a 1,500 tonnes per day Plastics to Fuel Facility at Port Arthur, Texas. Commencement of the Facility is anticipated by calendar year end 2015. IGE has also advised that in addition to the fees receivable for the Design & Construct component of the Port Arthur Texas Facility, IGE will receive a 15 year Royalty Stream commencing at 4% of Gross Sales and a 5% equity position in the US entity. GEP will have the right to construct a further 4 Plastic to Fuel Facilities throughout the USA utilising the IGE technology under the same commercial terms as outlined above. All rights and responsibilities for the facility will transfer to FOY, on successful completion of the IGE transaction.
- AUGUST 26, 2015: Integrated Green Energy Limited Memorandum of Understanding Executed. IGE has advised that it has executed a non-binding Memorandum of Understanding with a USA based company to provide the technology for the construction of a Plastics to Fuel facility near Houston, Texas. The facility is being planned to process 1,500 tonnes per day of waste plastics. All rights and responsibilities for the facility will transfer to FOY, on successful completion of the IGE acquisition.
- AUG 26, 2015: BEVAN DOOLEY GIVES INTERVIEW AND TOUR.
- AUGUST 4, 2015: Integrated Green Energy Limited Feedstock Contract Executed. IGE has advised that it has executed a new feedstock supply agreement, replacing the feedstock supply agreement described in FOY’s announcement of 10 April 2015. The Feedstock Agreement gives significantly more certainty to the arrangements for securing sufficient feedstock to operate IGE’s commercial non-recyclable plastic to fuel plant in Berkeley Vale, New South Wales. The agreement has a start date of 1 October 2015 and is for up to 10 years with an initial 5 year period and an optional 5 year extension, with both parties to review the agreement before the end of its 5 year term regarding the further 5 year extension. IGE has secured supply up to specified maximum quantities, with fixed yearly prices for its non-recyclable plastic as low as $160 per tonne (plus GST) under the Feedstock Agreement.
- APR 28, 2015: Australia’s Liquid Fuel Security Report, Part 2. The second instalment of Australia’s Liquid Fuel Security Report (Part 2, February 2014) is a followup to the original report in 2013. Prepared by John Blackburn AO and commissioned by NRMA Motoring and Services, it reviews Australia’s liquid fuel security and the growing risks to our fuel supply chain. It comments that “Australians are heavily dependent on energy imports, with over 90% of domestic transport liquid fuels being sourced from imported oil or refined oil products; Our transport system and, in turn, our society is almost wholly oil dependent – we are at risk if we experience supply chain interruptions”. Click on the Report to open.
- APR 10, 2015: Contracts Secured for Feedstock. IGE has secured a second feedstock contract to supply the 50 tonnes per day of non-recyclable plastics for the diesel Commercial Plant at Berkeley Vale, NSW. These two contracts will supply the entire feedstock requirements of the Commercial Plant for the first three years to June 2018, as throughput increases from 50 to 200 tonnes per day, by the scheduled installation of a further three production modules.
IGE has advised that the second contract is on significantly better terms than the budgeted target cost and the price actually decreases annually, as supplied volumes increase throughout the duration of the contract. Read more.
- UPDATE MAR 18, 2015: Binding Agreement Executed with IGE. FOY has entered into a binding Agreement with Integrated Green Energy Limited (IGE) to acquire royalty-free, perpetual licences to commercialise their technologies for plastics to fuel conversion, biomass to fuel conversion, and biomass to energy conversion.
- Under this Agreement, FOY will also acquire the IGE commercial non-recyclable plastics to diesel and petrol conversion plant which is under construction at Berkeley Vale, approximately 100kms north of Sydney.
- These technologies allow the processing of non-recyclable plastic into diesel and petrol and gas for power generation; and also treatment of Biomass to Fuel and Biomass to Energy.
Amazon Bay Project
- Large Exploration Target of vanadiferous titanomagnetite sands spanning over 100km of the southern PNG coastline.
- EL1396 is the key tenement covering the deposit and together with other regional approved tenements, FOY has a land holding of 1,434 sq. km.
- Favourable logistics and proximity to major developments
Board of Directors
- Strong management track record
- Clear strategy & structure to create shareholders value. 01