Mineral Hill acquires Avis Energy and renewable projects
Mineral Hill Industries, a Canada-based mineral exploration company, has announced it will acquire international waste management company Avis Energy Global Holdings.
Avis manages and recycles municipal waste using its Cold Catalytic Biomass Liquefaction technology (BML) to offer sustainable management of urban waste disposal across the world. The technology converts this waste into electricity, diesel fuel and water.
Once the transaction is complete, Avis says it will build its first of three proposed BML plants in Ontario, Canada, with a capacity of 6,000 litres per hour of diesel. Production will then be ramped up in stages, firstly to 25,000 litres per hour before eventually it is able to convert more than 300 trucks of municipal waste into 75,000 litres per hour of diesel.
The company's worldwide projects include six plants in Europe, currently under development; 10 plants in Africa; four in Asia; and one Beta facility in New York, US, which is designed to handle 1 million tonnes per year of feedstock. Mineral Hill will also purchase these projects as part of the deal.
Subsequent to regulatory approval of the acquisition, Mineral Hill will change its name to Avis Global Energy.