- New Chairman of the board
- Investment group to co invest alongside the BDF fund
- Investment update – $550,000 committed
Essential Queensland (EQ) is proud to announce Ken Richards is the newest member of our board and will be appointed the new chairman for Essential Queensland. Ken has recently retired as CEO of ASX listed Leaf Resources and has had over 35 years of experience as a Managing Director and many years of experience in the renewable chemical industries. Ken will be leading an investment group to co-invest alongside a Queensland Government Business Development Fund (BDF), which Essential Queensland has applied for.
Ken Richards commented “The principles of EQ have done a great job in proving up a simple, but effective process, that sustainably turns waste pine logs into high value renewable chemicals. Given my background in renewable chemicals this opportunity is ideal for the current markets where many companies are seeking sustainable solutions. This business ticks all the investment boxes as it has good people running the company, a great innovative, proven process for a product that is in strong demand and a sales contract for that product with a Japanese company. Financially, the investment stacks up as an great investment for a private superannuation fund”.
If we are successful with our application the Queensland Government will put dollar for dollar into our company through the BDF fund with the option of a buy back at near entry cost for the co-investor group. We believe that EQ meets all the criteria for success with the BDF.
EQ are raising AU$4.5 million with a minimum of AU$2.3 million investment required to get the first plant commercialised. EQ only requires a further commitment of AU$250,000 investment to ensure that we can complete the commercialisation of Australia’s first renewables pine chemicals factory with matching.
We invite investors to register interest with EQ in joining this exciting project. If this is something that interests you, I invite you to please get in touch and register your interest, there are still spots available in the co-investment group.
About Essential Queensland
Essential Queensland is a renewable bio-based chemical manufacturing company that has developed disruptive supply and processing capabilities of carbon based chemicals. These chemicals exist naturally in abundance in pine trees and replace the need of consumers to use synthetic or petroleum based chemicals as ingredients in the manufacture of many of the products we utilise daily. Such as perfumes, cosmetics, inks, adhesives and sealants and even chewing gums and soft drink ingredients.