Waste to energy company Pacific Pyrolysis (PacPyro) says it would like to create energy from discarded nappies but until that day it will concentrate on organic waste.
Pacific Pyrolysis is seeking to raise between $2.2 million to $4 million from an initial public offer (IPO) of shares and then list on the Australian Securities Exchange.
"The proven waste management technology can divert large volumes of waste materials from landfill, will value add to the treatment of organic waste and low-grade biomass and create valuable energy and biochar," PacPyro chief executive John Glen said.
The company is developing and commercialising its slow pyrolysis technology, under which organic waste such as green waste or chicken manure is heated at high temperatures until it decomposes and creates a gas and a "biochar".
The gas can be used to produce electrical or thermal energy.
PacPyro is already operating a demonstration plant at Somersby near Gosford in New South Wales and is looking to develop a pilot plant of commercial scale south east of Melbourne.
It is hoped that the plant will be operating in the first six months of 2013.
The biochar - a black granular form of charcoal that is rich in carbon - can be used as an additive to soil to boost agricultural production and sequester carbon.
Gas and biochar can be created from municipal green waste, wood waste, weeds, sugar cane trash, animal manures, crop residue and other organic materials.
Revenue would be generated by waste management fees, the generation of energy and the sale of biochar.
Mr Glen said PacPyro was seeking partners such as waste management companies, engineering firms and institutional funds to participate in the commercial pilot project and the eventual rollout of commercial-scale waste management plants around Australia.
PacPyro is offering up to 20 million shares at 20 cents each.
The IPO, which opened in December, closes in mid-February.