Mineral Hill acquires Avis Energy and worldwide projects

Mineral Hill Industries Ltd., a Canadian-based mineral exploration company, is expanding its business activities into renewable energy by joining a company immersed in the development of waste management technology through the acquisition of Avis Energy Global Holdings Inc.

Avis Energy has an international presence in waste management and conversion technology, including process plants under negotiation and development in several countries worldwide. The company has six plants in Europe under development, 10 plants in Africa, four plants in Asiatic countries and one beta plant in New York.

The New York beta plant has the capacity to convert 1 million metric tons of municipal waste per year. All the projects combined have the potential capital contribution of 4 billion euros ($5 billion). All will be acquired by Mineral Hill Industries, including their first-class collaterals of up to 3 billion euros.

Avis Energy originated in the U.K. in 2007, and has developed a proprietary Cold Catalytic Biomass Liquefaction technology (BML) to offer sustainable management of urban waste disposal across the world. The BML technology allows the company to convert municipal waste into diesel fuel, electricity and water.

Avis Energy has three proposed BML plants in Canada. The first has been chosen at a site near Hamilton, Ontario. The plant will be constructed within 12 months following the approval of the acquisition. The proposed Hamilton BML plant has an output of 6,000 liters (1.6 gallons) of diesel per hour. A 10 hectare (100,000 square meters) green house will be located adjacent to the plant supplied with part of the bioenergy derived from the conversion of waste.

The plant is designed as a modular system with the potential to expand up to 25,000 liters of diesel per hour, and a target production capacity of up to 75,000 liters. This would convert more than 300 trucks standard unsorted municipal waste into CO₂ neutral, high-quality green energy.

After the regulatory approval of the acquisition, Mineral Hill will change its name to AVIS Global Energy Ltd. According to a statement, the acquisition will likely be considered as a reverse takeover, whereby the shares issued for the acquisition will be escrowed, and held in escrow by the transfer agent ComputerShare Trust Company of Canada.