Victorian based renewable energy company MBD Energy has announced plans to launch its initial public offering next year, bringing forward its plans in the face of growing public support for carbon capture technology.

 

"We were looking at listing in 2013, but we've been able to pull that forward to 2012...and the interest in (our project) is very positive," MBD Energy chief executive and co-founder Andrew Lawson said.

 

The group is looking to raise anywhere between $60 and $100 million, with two large investors recording their interest as cornerstone investors.

 

MBD has already struck agreements with three coal-fired power stations to use its algae-producing carbon capture and recycling technology, which involves piping the gasses into algae farms. The process results in conversion of gasses into edible seaweed products and oils.