The company formerly known as Foy Group has finally secured the lease over a block of land at Hume for either its controversial plastics-to-fuel plant, another manufacturing plant, or both.
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But the ASX-listed company, now known as Integrated Energy Solutions, has refused to confirm or deny the purchase.
The territory government has confirmed it settled with IEG on Thursday last week, "at which point the Crown lease was granted", but has not detailed a specific settlement price.
Documents the company has filed with the market show the original contract price was for $3.1 million, plus $158,233 in expected stamp duty charges, despite neither party yet confirming the figure.
The sale represents a lengthy process, after the company entered the contract for the purchase in August last year, payment of which was extended in June to October 20 this year.
IEG director David McIntosh told The Canberra Times he was unable to comment on the issue, as it may have been market sensitive.
It is unclear why the company has not updated the market on the settlement, a week after it was completed.
Under the market's continuous disclosure rules, information that could be reasonably considered to have a material impact on the share price usually needs to be declared "immediately".
But there are some exceptions and it remains unclear whether or not the acquisition of the Hume land meet the those criteria, and clarification has been sought from the ASX.
The company's recent prospectus, which aims to attract up to a $15 million capital injection from new investors, also shows the acquisition of the land was contingent on the company raising at least $10.7 million.
Despite the settlement, ostensibly to allow a controversial and unproven "plastics-to-fuel" plant, an independent expert panel found that proposal and the company's environmental impact statement did not adequately address the risks the project posed.
A government spokeswoman said given that fact, the planning and land authority was "extremely unlikely to approve a development application that relied on this EIS".
But the company's prospectus also indicates the land could also be used to manufacture factory parts and equipment for export to build a number of other such plants in the United States.
