Leaf Resources raises $2.35 million shares placement

In Australia, Leaf Resources Ltd has successfully raised $2.35 million through a placement of shares to investors at $0.145 each. The funds raised from the placement will be used to advance the commercialisation of Leaf’s proprietary Glycell process, through the development of the company’s first commercial project.

The Glycell process is an innovative technology that uses a low cost, bio-degradable reagent glycerol, in a simple process that breaks down plant biomass into cellulosic sugars. Cellulosic sugars are a major feedstock for green, bio-based chemicals, bio-plastics and biofuels. The Glycell process can produce cellulosic sugars at under $50 per tonne (when co-products are included).
This compares with $220 per tonne for sugars produced from the conversion of corn starch.