Wasabi Energy (WAS)

Shares / Stock Code

WAS

Stock Exchange / Sharemarket

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Wasabi Energy (WAS) is a Perth-based company that deals primarily with renewable energy. It has nearly half of the shareholdings in Exergy Incorporated, which deals with developments in renewable energy such as geothermal and waste heat energy production. Wasabi Energy Limited, incorporated and domiciled in Australia, is a publicly listed company. It listed on the Australian Securities Exchange (ASX) 2 August 1971.

Wasabi Energy has recently entered into the Lillyburt Joint Venture with Western Canadian Coal Corporation. The property at Lillyburt has had approximately $1M spent on it by Shell in the early 1980's. After assessing its viability, WAS will be determining the targets for drilling in the first quarter of 2006. WAS also has 46% holding in Exergy Incorporated. WAS shares are traded on the Australian stock market.

Major customers of Wasabi Energy would be the customers of Exergy Incorporated. This is because the Company has a major share holding in Exergy Incorporated. There would not be any customers for its mining operations as production has not occurred yet. Competitors would be other mining companies specialising in coal mining such as BHP.

During the fiscal year ended June 30, 2009 (fiscal 2009), the principal activities of the Company were investing in energy and resource-based ventures, including managing Global Geothermal Limited; holding a 37% investment in Aqua Guardian Group; holding a 23% investment in Australian Renewable Fuels Limited; holding a 35% investment in Rum Jungle Uranium Limited; evaluation of the Lilyburt Coal Project in Canada; holding an investment of 8% investment in Aviva Corporation Limited; holding an investment in Lysander Minerals Corporation; participating in a joint venture with Danieli Corus, and investment in a joint venture, Evolution Energy, to evaluate opportunities in ethanol and bio diesel industry. The Company’s subsidiaries include Wasabi Technologies Pty Ltd, Global Geothermal Limited, Recurrent Engineering Llc, Insurance Hotline Pty Ltd and Evolution Energy Pty Ltd.