14/09/2006 The London Stock Exchange is delighted to welcome Prometheus Energy Company to AIM
14 September 2006
The London Stock Exchange is delighted to welcome Prometheus Energy Company to AIM.
Prometheus Energy Company PLC is a US-based alternative and renewable fuel company, specialising in the production, sale and distribution of liquid natural gas (LNG), a clean-burning, less expensive and safe alternative to diesel fuel. The company has unique small scale, transportable, patented technology which captures methane from waste sites-such as landfills, coal mines, stranded gas wells and from otherwise uneconomic gas reserves, which it converts to high quality LNG.
Conversion takes place on site, at locations close to where the LNG can be used, adding to the environmental and cost benefits of this “distributed energy”. Typical users are heavy duty commercial and public transport fleets
Currently, Prometheus is installing the world’s first commercial scale production system to convert waste gas to LNG at the Bowerman Landfill site in Orange County, California. Commercial production is expected to start by the end of the year, with an initial production capacity of 5,000 gallons of LNG every day, for sale into the vehicle fuels market, rising to 25,000 gallons by the end of 2007.
Kirt Montague, the CEO of Prometheus Energy, commented:
“We are delighted to have successfully completed our IPO. There are substantial opportunities for us in Europe, where the combination of clean air regulation and rich methane resources offer a potentially large market. We think the visibility of an AIM admission will provide significant marketing and business development opportunities.”
Jefferies International Limited is acting as Nominated Adviser and Broker to the Company.