The Australian government has a target of a 5 per cent emissions reduction from 2000 levels by 2020
The word “carbon” by the looks of it has already overshadowed the word “sustainable” though both are rightly intertwined into each others destiny. Many renewable energy stocks have enjoyed a three-fold rebound in recent weeks.
Some Australian companies that might benefit from the new Government carbon and sustainable resources initiative
Petratherm (PTR) – Recent price 17.5¢
The company is conducting tests at its Paralana well, which could indicate whether it will be able to extract energy from the superheated rocks 4000 metres underground. If this process proves successful Petratherm will reap benefits for itself and its investors
Geodynamics (GDY) – Recent price 35¢
Geodynamics has been testing hot dry rock technology, drilling down to 5000 metres at its extensive resource (potentially 6000 megawatts) in the Cooper Basin. Geodynamics says it is well cashed up with $29 million in the bank, but says it is considering selling or leasing its drilling rigs to boost its reserves.
CARBON CONSCIOUS LIMITED (CCF) –
Recent price 0.295¢
Carbon Conscious Ltd is an Australian company producing carbon credits through ‘carbon farming’ – the planting of Mallee Eucalypt trees in Australia’s wheatbelt region.
The “Australian Renewable Energy Agency” which has been created by the government initiative, will have an independent board and staff and will bring together about $3.2 billion of funding that has been reserved for demonstration projects in this new sector.
Some more carbon related Australian companies listed on ASX
CARBON MINERALS LIMITED (CRM) – Natural resources exploration in Australia
CARBON ENERGY LIMITED (CNX) -To produce clean energy and chemicals feedstock from Underground Coal Gasification (UCG) syngas
CO2 GROUP LIMITED (COZ) – Carbon Sequestration
CARNEGIE WAVE ENERGY LIMITED (CWE) – Wave Energy Technology Development