(Alliance News) - Kibo Energy PLC said on Tuesday it has made "significant progress" in pilot tests for its biofuel projects in southern Africa.
The Galway, Ireland-based company runs energy projects in Africa and UK. With biofuel projects, the group aims to supply solid biofuel as a replacement for conventional coal to manufacturers.
In a statement on Tuesday, Kibo said the positive laboratory and pilot tests demonstrated the potential viability to replace conventional coal with solid biofuel from a technical and operational perspective.
"The latest results will now be fed into the detailed feasibility studies that are currently underway, to establish the technical and commercial viability to replace coal with solid biofuel in small- to medium-sized boilers and similar applications," it said.
Kibo Chief Executive Louis Coetzee said the group was "extremely pleased" with the outcome of the most recent test work and are confident that the ongoing feasibility studies will bring further positive results.
"We remain on course to actively pursue the successful execution of our biofuel projects in Southern Africa and look forward to providing further updates to the market on the progress of these initiatives," Coetzee said.
Kibo also said Chris Schutte had retired as an executive director from Tuesday. It is considering a number of candidates to replace Schutte.
By Artwell Dlamini, Alliance News reporter
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Kibo Energy (KIBO)