Australia-based Greenpower Energy, a coal seam explorer, is planning to raise a minimum of A$6 million and a maximum of A$10 million through an initial public offering, due to take place in mid-October, APP News has reported.

<p>Stating the environmental benefits of harnessing coal seam gas, Greenpower director, Rod McCullough, said: In the Hunter Valley…the power suppliers there are very keen to buy [coal seam gas] because of the greenhouse benefits they get out of it, as reported by APP News.<br /><br />Greenpower&#0039;s director, Gerard King, added that coal seam gas was being considered seriously as a viable power source in Australia.<br /><br />Mr King said: We are finding that it is being taken more and more seriously by a very large number of people. There is an [energy] shortfall and that shortfall is being increasingly met by coal-bed methane production, as cited by APP News.<br /><br />Mr King added: Demand is here, supply is not that great, so coal-bed methane is meeting a gap in the supply to meet that demand.<br /><br />APP News reported that Greenpower Energy is hoping to list its shares on the Australian stock exchange in October.</p>