01 Performance NEW ENERGY CORPORATION

CEFC ANNUAL REPORT / 2014–15

New Energy Corporation

Project Scope

The CEFC committed up to $50 million in senior debt finance for the development of New Energy Corporation’s waste-to-energy facilities in Western Australia.

New Energy has two major waste-to-gas projects in advanced stages of development, at Port Hedland (Boodarie) in the Pilbara and at Rockingham, near Perth.

Both projects will use the Australian developed world-leading ENTECH™ waste gasification technology. The technology is used to convert non-recyclable municipal, commercial and industrial waste to energy, delivering a sustainable waste management solution along with lower emissions than current grid electricity sources.

The investment is an important demonstration of the CEFC’s role in bringing new technology to the Australian market. New Energy’s innovative technology was developed in Australia and has been widely deployed in international markets, being used in 46 locations throughout Europe and Asia.

The ENTECH™ waste gasification technology is modular and scalable, ensuring facilities have the flexibility to adapt to changing waste types and volumes.

Progress Report

  • New Energy has signed waste services contracts with the City of Karratha and the Shire of East Pilbara

  • New Energy expects their Boodarie Industrial Estate plant and the East Rockingham plant to open between late 2017 and early 2018.