Leaf Resources Signs MOU with Monaghan Biosciences

28th September 2015, ASX Announcement 

Highlights:

• The MOU objective is a bankable feasibility study for a renewable chemical project.
• Project will be based on spent mushroom substrate and will showcase Leaf Resources’ GlycellTM process and Monaghan Biosciences’ enzyme technology.
• Initially a 50/50 joint venture between the parties.
• The aim is to have cellulosic sugars produced and converted to a renewable chemical.
• The project is potentially an important advance in the cellulosic space.

The Directors of Leaf Resources would like to advise that a Memorandum of Understanding has been signed with Monaghan Biosciences and their parent company Monaghan Mushrooms to establish a viable renewable chemical project utilising Monaghan Muchroom’s spent mushroom substrate as feedstock and Monaghan Biosciences’ enzyme technology integrated to the Leaf Resources’ GlycellTM cellulosic sugar platform.

Leaf Resources’ GlycellTM process uses glycerol as a catalyst to make cellulosic sugars from biomass such as waste from agriculture. These sugars are a key intermediate used in the production of (renewable) bio-chemicals. This project could enable significant cost advantage sugars as alternatives to fossil fuel-based industry processes.

To read the full announcement, please click here.