Pollution control company prepares to list on the ASX

Pollution control company Carbonxt is on a mission to make coal-fired power stations cleaner, utilising clean technology that is already being used by power stations and utilities in the United States.

Carbonxt uses activated carbon (AC) products to remove mercury from gas and wastewater emitted by coal-fed power stations. These mercury capture products do not contain bromine — differentiating it from competitors’ products, according to the company — which can cause corrosion of plant and equipment at significant cost.

Not only does mercury reduction have significant health benefits, a major study conducted in 2009 estimated reducing global mercury emissions would carry an economic benefit of between US$1.8 billion and US$2.22 billion (in 2005 dollars).

Now looking to list on the ASX, Carbonxt is seeking to raise a minimum of $10 million, offering 14.3 million shares at an issue price of $0.70 per new share. The offer closes on 7 December at 5 pm AEDT, with an ASX listing date currently set for the week before Christmas.