Leaf Resources Acquires Essential Queensland
We are thrilled to announce the acquisition of Essential Queensland Pty Ltd (EQ), an Australian private company, which utilises proprietary extraction technology to produce sustainable and renewable pine chemicals for sale into global markets.
EQ was established in early 2017 to develop and commercialise sustainable extraction and processing technology to produce pine chemicals. Since establishment, EQ has developed a proprietary process to extract rosin and terpenes from pine logs, producing the highest quality, clean gum rosin and terpenes which are used in a multitude of consumer products, including perfumes, cosmetics, food additives, adhesives, disinfectants, synthetic rubbers and printing inks. The global market for pine chemicals was estimated to be approximately US$10 billion in 2018 and growing at a rate of ~1% p.a. above world growth rates [ Pine Chemicals Association].
In 2019, EQ commissioned a pilot plant with 4,000 tonne through-put capability at its Apple Tree Creek site in Isis Central, Queensland. Currently, EQ is constructing an 8,000 tonne per annum commercial scale pine chemical plant on the same site. The new fully funded plant is expected to be commissioned in the final quarter of this calendar year, with full operating capacity expected in June 2021.
In addition, EQ has secured supply of pine logs from an existing sustainable pine plantation to meet production requirements. This supply provides EQ with full control of the logs from harvest to production and includes delivery to EQ’s Apple Tree Creek site at commercial rates.