14 July 2022
Polytechnik Biomass Energy, a global technology leader in biomass combustion, wood gasification and carbonisation systems has announced that they have a new majority shareholder and has restructured in order that they can continue to offer their full range of biomass boiler systems. The restructuring was finalised on 20 June 2022.
In late January, Polytechnik which was in insolvency, announced that they’d filed for a restructuring to proceed without self-administration. The company said it would be working with creditors to complete existing projects and to support existing customers and would work to overcome their liquidity crisis.
The recent announcement can be read here
Locally, the company has provided 19 boiler plant installations in Australia and New Zealand over the last few years and is currently working on seven boiler plants for four customers in New Zealand with a combined heat output of about 50,000 kWh.
Source: Polytechnik
Subscribe
Latest Updates
Wood petrochemical substitutes one step closer
Bio-refinery start-up Futurity is launching a NZ$1.5 million commercialisation study into turning wood by-products into high-value chemicals. The study will…
Processing forestry slash on-site an immediate solution
An immediate solution to solve the issue of destructive forestry waste – or slash – is available, and implementing it…
Major Wood Residues Event announced for 2023
It was eight years since the Forest Industry Engineering Association had run a wood residues programme aimed specifically at those…
Huntly burns wood rather than fossil fuels
Genesis Energy has found its coal-burning unit in Waikato can also produce electricity when fed wood. The Huntly power station…
Government missing opportunities to reduce greenhouse gas emissions
The announcement that the NZ Government has dropped the Sustainable Biofuels Obligation Bill is not surprising as the Government has…
Researchers partner to pelletise waste materials
The idea of using biomass or non-recyclable materials to produce power has been around for a long time, but techniques…
