Bisan Limited (ASX: BSN) has increased its stake in waste plastics to diesel company P-Fuel Limited to 16.4% from 13.8% after acquiring 375,000 shares in P-Fuel.
The company issued 1.5 million shares priced at $0.015 each as consideration for the P-Fuel shares.
P-Fuel’s process converts waste plastics and waste oils into various fuels such as diesel, light petroleum products and gas.
This could address waste management issues, particularly the disposal and management of waste plastics.
Patents for the technology were recently granted in Russia and the U.S.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.