MBD formally launches 2014 Private Equity Capital Raising
MBD is seeking to raise $30 million of equity capital.
MBD's focus is on two Australian projects and a China Joint Venture where MBD is paid to clean water and or produce high-value by-products.
The capital will fund the commercialisation of MBDís technology and will include the commercial deployment of its Astaxanthin and Pacific Reef Fisheries Aquaculture Bioremediation projects, the co-funding for MBDís Joint venture in China and continued funding for its R&D Program and working capital.
Any additional funds will be used to accelerate the deployment of MBDís projects in Australia and Asia.
For more information on MBD click on the presentation image (right) to download a copy of the document.
For additional information on the capital raising or to register for the IM document please contact:
Domain Capital Pty Limited:
Rick Horne, Director
Phone: + 61 3 8614 1092
The Information Memorandum is provided for Sophisticated Investors as specified in the Corporations Act Part 6D.2, Section 708
Pacific Reef Project Update Ė large scale demonstration
MBD has establish a low cost industry demonstration of bioremediation of nitrogen and phosphorous at Pacific Reef Fisheries, Ayr, QLD.
The North Queensland prawn industry has not seen any expansion for the last 10 years. Environmental regulations require the level of nitrogen and phosphorous in the discharge water to have zero nett gain from the inlet water for each new prawn farm. i.e. no new discharge of nitrogen and phosphorous to the Great Barrier Reef waters. MBDís innovative process enables the prawn and fish industries to comply with this objective.
The use of algae to bioremediate nitrogen and phosphorous delivers a low cost remediation system that can be applied to existing and new aquaculture facilities.
Australia currently imports more than 70% of seafood. An expanded industry for the North Queensland Region has the potential to be a major producer of seafood and fish to the Australian and international markets. Declining ocean stock volumes has lead to a consistent increase in imported seafood over the last 20 years (currently greater than 50% of all shellfish and fish are grown in farms). More than 70% of the worlds farmed fish are grown in China.
The key outcome is to prove a low cost bioremediation system at Pacific Reef as a basis for the major expansion and development of the North Queensland seafood and aquaculture industry.
MBD have built a large scale demonstration at the Pacific Reef site and are currently operating the site to demonstrate the process at scale. The trial will continue through to the middle of 2014. Extensive water monitoring tests are being applied daily to the system to demonstrate the uptake of nitrogen and phosphorous to satisfy the Great Barrier Reef Marine Park Authority (GBRMPA) requirement of zero nett discharge. Following the trial, the process will be expanded at the site and at Pacific Reefís Guthalungra site (260Ha) and also wider across the aquatic industry.