As shown in the FOI link from Crikey, Tata will only commit...

As shown in the FOI link from Crikey, Tata will only commit further funds when/if Exergen get Gov co-contribution and access to vic coal. This is from a recent ASX announcement and was negotiated this year FWIW IMO -

"? Tata has invested $10million in exchange for shares in Exergen.

? Tata has the option to acquire an interest of up to 25% in LV-NG Pty Ltd (a wholly owned subsidiary of Exergen) (“LV-NG”) upon LV-NG securing a Coal Licence in the Latrobe Valley, if successful. The funds raised by LV-NG will be used to fund the Demonstration Plant.

? Subject to Tata electing to invest in LV-NG, LV-NG and Tata may enter into a coal off take agreement to acquire, on commercial terms, treated coal output from the Demonstration Plant.

? Exergen and Tata agreed to co-operate in developing the terms of an intellectual property licence agreement pursuant to which Tata would be granted the right to use the Exergen Technology at an Indonesian coal site on a royalty free basis. Exergen Technology Pty Ltd and Trust Energy Resources Pte Ltd (a subsidiary of Tata) have entered into an Intellectual Property Licence Agreement in this regard."


They paid(yes actually coughed up) $10mill for 5%.

They have an option to acquire a further 20% ($40mill?)

They need so much coal though that they are also looking at building a CHTD plant in Indo and paying Exergen a royalty fee per tonne!!!!!(if you search Indo Gov websites you'll see that plant is already progessing through approval process IMO)

They intend to be offtakers of CHTD from Exergen's demo in LV

And IMO will take all available coal Exergen can feed them from both LV and Bacchus!!!

Mantle are current JVA partners at Bacchus and will hopefully do similar at LV IMO.

All IMO & DYOR

BR