News and Announcements
Leaf Resources Signs Joint Venture to Develop Five Projects
- Published July 21, 2016 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
20th July 2016, ASX Announcement
Highlights
- Leaf Resources Ltd enters into binding agreemnts with Claeris, LLC of Dallas, Texas USAto establish a joint venture entity, Leaf Development, LLC
- Leaf Development, LLC was formed to develop up to five renewable chemical projects utilising Leaf Resources’ proprietary Glycell™ process
- Claeris has a proven track record of developing large-scale, financially successful renewable projects
- Claeris will invest USD$500,00 in Leaf Resources
- The Directors of Leaf Resources believe that the agreement with Claeris will:
– Lower transaction execution risk given Claeris’ strong track record of sourcing funding, and building large-scale commercial renewable projects;
– Accelerate the speed of project development;
– Facilitate more favourable commercial terms for projects;
– Increase the field of opportunity for the deployment of Leaf Resources’ technology.
Leaf Resources Ltd (ASX: LER, “Leaf” or “Leaf Resources”) is pleased to announce the signing of binding legal agreements with US-based project developer Claeris, LLC (“Claeris”), to establish a joint venture (JV) entity, Leaf Development, LLC (“Leaf Development”), for the purpose of developing up to five renewable chemical projects that utilise Leaf Resources’ proprietary Glycell™ process.
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