Leezamark snaps up Axiom Energy as Australian biofuel fire sale continues

Leezamark announced that it will acquire Axiom Energy, an Australian company that is building a 40 Mgy biodiesel plant in Geelong in the state of Victoria, with a potential to expand capacity to 80 Mgy. Under the terms of the acquisition, Axiom shareholders will receive shares in Leezamark.

The new owners will, under the terms of the agreement, provide $15 million in new equity through a private placement, and obtain A$25-$30 million in debt for plant completion funds and working capital.

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