Delorean (ASX:DEL) held a cash balance of AU$15.3 million at the end of the December 2024 quarter as it sought to develop a number of bioenergy projects across Australia, according to a Wednesday Australian bourse filing.
It completed the construction of inlet and outlet tanks as well as digesters at the Yarra Valley Water food waste to energy project in Victoria during the period. Major plant and equipment items have been delivered onsite and placed ready for mechanical and electrical connection.
It also reached a financial investment decision on its SA1 bioenergy project in South Australia.
It is also collaborating with Brickworks Building Products to reach a financial investment decision on the NSW1 bioenergy project in New South Wales by the fiscal 2025 fourth quarter. It plans to submit the project through the formal planning and development approval phase in the third quarter. It will also work on detailed commercial terms and project finance options with Brickworks.
It will also seek to secure a complementary investment/finance partner for its VIC1 project in Victoria during the third quarter, the filing said.
Delorean's shares rose almost 4% in early trading on Wednesday.
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