David Simmons – Business News Australia – 11 July 2018
His Midas touch has launched Vocus Group into a listed company and transformed Airtasker from a startup to a national phenomenon, but how does James Spenceley decide on what to invest in?
Spenceley’s latest investment is a $1 million injection into Integrated Green Energy Solutions (ASX: IGE) as they ramp up production of their eco-friendly fuel.
IGE has developed a world first, patented technology turning unwanted plastic waste into fully refined, road ready fuel.
The company is set to launch its first plant in Amsterdam from November this year, using unwanted plastics from the UK and Europe to create its patented fuel technology. IGE also has sites approved in China, the UK and the USA.
Spenceley, chairman of Airtasker and a two time EY Entrepreneur of the Year award winner, decided to invest in the company straight after taking his BMW to the test site on the Central Coast and successfully driving all the way back to his home in Mosman, Sydney.
Business News Australia spoke to Spenceley about the investment in IGE, his advice to young entrepreneurs, and to find out what it takes to get investment from him. Read more