Andrew Willis: Encouraging investment in alternative energy
Monday, December 10, 2007 | 08:13 AM ET
Money Talks is a collection of daily columns from The Business Network, which airs weekday mornings on CBC Radio One at 5:45 a.m. ET (6:15 a.m. ET in N.L.).
There’s a company in Hamilton called Biox that is very much in step with the times. Biox is what’s known on the markets as an alternative energy play. It takes the yucky dirty oil out of restaurant kitchens - the junk left over after McDonald's makes fries all day - and recycles that waste into a biodisel fuel. It’s a great green company. Environmentalists love Biox.
Investors have no interest. Biox tried to raise $100 million in an intial public offering recently, and couldn’t find backers. The IPO got cancelled.
There are a number of other alternative energy companies in the same boat. They’ve got cutting edge technology such as solar panels, or the right to develop a windmill farm. But they can’t find public market backers.