Delorean Corporation (ASX:DEL) reported progress in Q3 FY25, marking a pivotal period as the company accelerates its transition toward renewable gas production and sustainable infrastructure.
A major milestone was achieved with the announcement of a landmark agreement with the Australian Gas Infrastructure Group to connect Delorean’s SA1 Salisbury Bioenergy plant to the gas grid, the first of its kind in Australia for mains-grade renewable gas (biomethane).
A supply agreement with Supagas for biogenic food-grade liquid carbon dioxide from SA1 further underscores market demand for Delorean’s renewable outputs.
The company ended the quarter with a $15 million cash balance and $4.4 million in receipts from customers.
Construction at the $59.5 million Yarra Valley Water bioenergy facility progressed well, with major infrastructure completed and equipment delivered for installation.
At the SA1 site, earthworks commenced and long-lead items were ordered, targeting the first gas in FY26.
Delorean also advanced the NSW1 Bioenergy Project in partnership with Brickworks, with development approval now submitted.
The VIC1 and QLD1 projects also progressed, with preliminary works underway and financing strategies being developed.
The company drew an additional $6 million from its Tanarra debt facility during the quarter, bringing the total drawn to $23.85 million.
Focus in Q4 includes further SA1 construction, VIC1 funding, and commissioning of the Yarra Valley Water Project.