Environmental Services – Octief Pty Ltd
On 15 September the Board of HRL Holdings Limited, formally Hot Rock Limited (ASX: HRL), were pleased to advise that the shareholders of both OCTIEF Pty Ltd and HRL Holdings Limited voted in favour of merging the two companies. The Board of HRL Holdings Limited is also pleased to welcome Mr Darren Anderson and Mr Kevin Maloney to the Board, both of whom have an outstanding track record in growing shareholder wealth. Their combined experience will offer a very valuable contribution to the HRL Board.
The transaction saw HRL acquire a profitable business with significant growth potential, supplementing its existing exposure to the clean energy industry through the exploration and development of its geothermal projects in Victoria. The listing of OCTIEF on the Australian Securities Exchange will allow OCTIEF further expand its business through an enhanced public profile and greater access to capital markets.
Acquiring OCTIEF provides HRL with a new opportunity which is based on market strength and revenue potential, while taking into consideration the current regulatory regime heavily dictating and restricting the HRL’s further development in the special area of geothermal energy.
OCTIEF currently operates substantially in the energy industry, with numerous projects involving the provisions of services to engineering and environmental sectors. Within these sectors, OCTIEF services include environmental studies, dust, noise and vibration sampling and monitoring, sampling water and soils for toxic materials such as asbestos, metals and other contaminates and analysis and their effect on the environment, as well as activities for safe removal or containment that have to be managed.
OCTIEF offers a number a specialised environmental services, which includes but is not limited to environmental compliance monitoring, contaminated land, ecological assessment and environmental auditing and project management, all of which contribute to geothermal exploration, development and operations.
OCTIEF also work fundamentally within sustainability, which includes providing an understanding, measurement and baseline of the footprint of an organisation including direct and indirect emissions, energy, water and waste.
For more information please visit www.octief.com.au