Alpha Prospects Limited
(“Alpha” or the “Company”)
Merger with Derlite Limited
Alpha Prospects Limited, the investment management company focussed on innovative energy companies, is pleased to announce that it has agreed a merger with Derlite Limited, a specialist manufacturer of gas ignition systems.
Derlite’s main manufacturing base is a 3,600 m² factory located approximately 20km from Bangkok, Thailand and employs 160 people. The company has operated in Thailand since 2002 and holds both ISO 9001 (Quality Management) and ISO1400 (Environmental Management) certification, and a Thailand Board of Investment (BOI) licence.
Alpha and Derlite are also currently co-investors in Tasmanian Oil and Gas Australia (TOGA) and following the merger Alpha’s interest in this venture will be 60.0%.
In addition, Derlite has a majority holding in Siam Industrial Ceramics. This business is developing a ground breaking technology that enables the harnessing of energy from water. The company was established as a joint venture with Malcolm Bendall, a scientist who has been researching energy recovery systems for some time, and is based in Derlite’s Thailand factory. Although development is at an early stage bench tests have confirmed the concept and there is a working prototype.
Alpha has received an offer of funding to support the growth of the businesses and is in the process of finalising the agreements.
Christopher Foster, Chief Executive, Alpha Prospects Limited commented:
“Having been an investor in Derlite for many years and with Derlite holding a majority stake in Siam Industrial Ceramics it was logical for the three businesses to come together. Derlite is a profitable manufacturing business with scope for continued growth whilst Siam Industrial Ceramics’ revolutionary technology offers huge blue sky potential. I am confident that the merged entity will enable both businesses to accelerate their development.”
Kevin Baker, Managing Director, Derlite Limited commented:
“Derlite is pleased to join with Alpha Prospects and in so doing gain access to capital that will allow the continued growth of the company and its subsidiaries.”