Axiom partners with Linfox and Visy

By | December 15, 2006
Australian renewable energy company Axiom Energy Ltd. had a busy autumn as it issued an IPO, which later was "withdrawn," according to the Australian Securities Exchange, and entered into agreements with two companies to test biodiesel in its trucking fleets.

On Sept. 20, Axiom opened its initial public offering (IPO), which was going to be used to fund Axiom Energy's first biodiesel facility near Melbourne. The company, which had previously withdrawn an AUS$37.6 million IPO in 2005, extended the closing of its most recent IPO from Oct. 20 to Nov. 3 and again to Nov. 30. After that time, the Australian Securities Exchange listed Axiom's IPO application as "withdrawn." Axiom Energy could not be reached to confirm or deny the withdrawal.

While its IPO was open, Axiom Energy also lined up two companies to begin trial use of biodiesel in their trucking fleets. The first agreement was with Linfox Logistics, a warehousing, transportation and supply-chain management company operating in Australia and throughout the Asian-Pacific region. Linfox cited a need for the logistics industry to play a more active role in tackling carbon emissions as its motive for the trial. According to Axiom Energy, Linfox is the first major Australian trucking company to announce intentions of biodiesel use.

"The public announcement of commercial trials by industry leaders such as Linfox has led to a number of commercial players seeking partnerships to establish their internal alternative fuel strategies," said Danny Goldman, Axiom Energy managing director. "We expect to announce a range of strategic commercial partnerships as we bed down the terms and conditions."

One such company that followed suit was Visy Industrial Packaging, which will run commercial trials of biodiesel in its trucking fleet. Visy develops and supplies high-quality plastic and steel packaging, recycling and associated sustainability services. Upon completion of the trial, Axiom Energy is expected to become Visy's preferred biodiesel supplier.

Axiom Energy offers commercial users discounted prices to promote the use of its biodiesel. "An alliance with Axiom Energy allows us to understand the potential economic benefits, which include cost savings, product quality and also the ability to source biodiesel from metropolitan locations-namely Melbourne," Visy Chairman Raphael Geminder said. Axiom Energy is developing a 40 MMgy biodiesel facility near Melbourne at the Toll Geelong Port.
 
 
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