It is estimated that Fly Ash Balloons are present to an extent of about 1 % in flyash from thermal plants. Because of low density and hollow nature they float in the lagoons where fly ash is discharged. The float is collected, further isolation is carried by froth flotation and dried. Final extraction is carried out in a pneumatic conveying system connected to a tribo electric separator. In the tribo separator the fly ash is divided into three fractions. Here the cenospheres are separated from carbon and iron. The product is then graded for different end uses.