Enerji Resources (ASX:ERJ) shares have spiked over 100% to an intraday high of $0.012 since the 22nd August, attracting interest from the ASX.
The company responded that it does not consider its R&D Tax Refund in isolation to be information that a reasonable person would expect to have a material effect on the price or value of its securities.
It also commented that recent trading activity was not considered unusual for ERJ shares.
The company focuses on technology that transforms waste heat into electricity, reducing energy costs and CO2 emissions.
ERJ's most advanced project is in the Pilbara, with a configuration similar to the Carnarvon pilot plant in Western Australia, but with the key addition of supplementary heat from a solar thermal technology.
The project incorporates the improvements that were identified during the Carnarvon pilot plant trials.
Late last year ERJ revealed that it was producing electricity from waste heat at full system capacity in Carnarvon.
The company is capitalised at around $7 million.
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