No they dont need money imoThey have borrowed $1.5m in Oct as...

No they dont need money imo

They have borrowed $1.5m in Oct as stated previously and which will be repaid in march 2014 , probably a small sell down of its majority ownership on the Singapore listing of Wasabi New Energy Asia in Feb 2014.


Plenty of Assets if needed to sell , 47.5% majority ownership of http://www.aquaarmour.com.au/, 22.5m shares in Clean TeQ Holdings Limited (ASX:CLQ), 36.6m shares in Lignol (TSXV: LEC)

Also stated previously any loan notes due in DEC 2013 will be refinanced so not repayable until Sept 2014.

http://www.proactiveinvestors.co.uk/companies/news/62767/wasabi-energy-progressing-well-with-strategy--62767.html

October 31 2013, 8:19am

Clean tech focused Wasabi Energy (LON:WAS, ASX:WAS) continues to make progress on strategy, it said, posting a cashflow statement for the latest quarter.

The aim is to have 25 (megawatts) MWe of power production directly attributable to Wasabi either under construction or in operation by 2015 and maintain that growth rate each year thereafter.

To that end, the quarter saw the firm's 66.7% subsidiary Wasabi New Energy Asia (WNEA) pay the next installment of RMB18 million (US$2.85mln) for the purchase of Shanghai Shenghe New Energy Resources Science and Technology Limited (SSNE).

Wasabi agreed last year to purchase 50.5% of SSNE for around US$30mln.

Earlier this month, the firm's Turkish expansion plans were validated by some impressive numbers from a pre-feasibility study. They validated plans for a 30 megawatt expansion of the Tuzla Geothermal Power Project (TGPP).

Wasabi’s Turkish subsidiary Imparator Enerji has an option to acquire up to 50% of the Turkish company which owns Tuzla.

Wasabi chairman John Byrne said: "The Wasabi Energy Group continues to progress in its strategic objective of having 25 MWe of power production directly attributable to Wasabi either under construction or in operation by 2015 and maintain that growth rate each year thereafter.

"We are progressing well with the commissioning of the Kalina Cycle power plants at DG Khan in Pakistan and Star Cement in United Arab Emirates and the finalisation of the option exercise for the Tuzla Geothermal Power project."