Altus’ business strategy focuses on the utilisation of a proven and effective waste to energy process that converts wood-based waste into densified wood pellets and various absorbents. Wood pellets can be combusted to generate electricity and heat for a range of domestic and industrial applications ranging from efficient space heating to co-firing with coal in large-scale power stations. In addition, Altus produces high quality absorbents targeting equine bedding and other absorbent markets. Altus markets its equine bedding product through a wholly owned subsidiary, Proteq Pty Ltd.
Altus’ densified wood pellet production facility located in southeast Queensland produces up to 125,000 tonnes of high quality wood pellets annually. The facility sources premium quality wood residue from Australia’s largest sawmill (Hyne and Son Limited), which is conveniently located in the middle of the Tuan plantation resource near the town of Maryborough. Additional raw material sources have been identified with increased supply likely to be contracted during 2017.
Supporting Altus’ production plant, the Company has constructed a new dedicated wood pellet storage and export facility at the Port of Bundaberg. A 225 meter long, 30,000 tonne capacity storage building has been erected at the port along with material handling equipment to link into Queensland Sugar Limited’s ship-loading infrastructure.
In June 2017 Altus secured a 150,000 tonne contract to supply industrial grade wood pellets into the global wood pellet market between late 2017 and the end of 2019.
Altus is actively seeking to increase in its annual fuel pellet production capacity to a minimum 500,000 tonnes per annum through the construction of additional wood pellet production facilities and the strategic acquisition of existing wood pellet production capacity around the Pacific Rim.