Eden Energy Limited
(ASX:EDE) has secured financial assistance and an incentive package worth US $24.76 million from the Georgia Economic Development Authority in the United States.
Eden Energy proposes to establish its large-scale, Edencrete production facility in the city of Augusta, with the first phase planned to be completed over the next seven years at an estimated cost of $67 million.
The green energy company says that the first phase has a planned annual production capacity of 189 million litres of Edencrete concrete admixture.
The company says that this assistance will “significantly reduce both the up-front capital costs and the operational set-up costs associated with establishing the large scale manufacturing operation in Georgia”.
Eden Energy recorded a net loss of $1.43 million at 31 December 2015.
