"In response to shareholder enquiries, Redbank Energy Limited (ASX: AEJ) (REL) wishes to provide the following market update.

[5] In 2018, Redbank Power Station was purchased by Hunter Energy Limited, which planned to convert the existing plant from coal to biomass.

This was done as the first step of a broad strategy the company presented at the time that would eventually lead to a renewable energy complex at the site of the station.

This method uses wood processing debris that is otherwise unusable, such as branches and bark that are byproducts produced during sawmill production of commercial timber.

Biomass is considered a renewable energy source in Australia, and is accepted as a valid method of reducing carbon emissions within the country.

[13] According to Carbon Monitoring for Action, in 2007 Redbank emitted more climate change and global warming causing greenhouse gases per unit of electricity generated than any other power station in Australia.

[14] CARMA estimates this power station emits 1.06 million tonnes of greenhouse gases each year as a result of burning coal.