The plastics-to-fuel plant proponents formerly known as the Foy Group has an extra month to pay the ACT government the millions of dollars it owes on a block of land in Hume.
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Integrated Green Energy Solutions now has until October 20 to settle its debt after the initial settlement date for the land came and went.
A statement from director David McIntosh said the arrangement came from "amicable and constructive" discussions and would give the company enough time to raise an extra $15 million through extra shares.
But a Suburban Land Agency spokesman could shed no light on why the company had been given another chance to make good, as it was a "commercial matter".
"Suburban Land Agency and Integrated Green Energy Solutions Limited have agreed a commercial arrangement to facilitate contract completion," the spokesman said.
"Failure to complete on October 20 allows the Suburban Land Agency to terminate the contract, retain the deposit, require interest payments from the date that completion was originally required, and re-sell the block."
Foy bought the block last year to house a plastic-to-fuel factory but their proposal was effectively killed off in May, after a health panel found there were too many risks associated with the unproven technology.
The company had paid a 5 per cent deposit of $155,425, with $2,953,075 owed at settlement.
The balance was supposed to be paid in June but on September 7, three months after the original settlement date, the company advised the Australian Stock Exchange the government had given them until 2.30pm that day to pay up. They missed that deadline too.
