Kedco, (AIM:KED) the renewable energy group focusing on the production of clean energy in the UK and Ireland, is pleased to announce that its joint venture company Newry Biomass Limited ("NBL") has received provisional assurance from HM Revenue and Customs that NBL would be authorised to issue shares under the Enterprise Investment Scheme (EIS) following receipt of a properly completed EIS1.
Gerry Madden CEO of Kedco commented:
"The Enterprise Investment Scheme is becoming an increasing part of the UK Coalition Government's 'growth agenda', a key economic policy. This provisional assurance for Kedco's biomass plant is in our view a perfect fit between this growth agenda and the UK Government's stated commitment to supporting renewables in the long term."
Kedco plc's business strategy is to identify, develop, build, own and operate biomass electricity and heat generation plants in the UK and Ireland. These plants will contribute to the need for sustainable energy from renewable sources. Kedco also operates a biomass wood processing facility in Latvia.
The Company possesses significant knowledge of renewable energy markets, advance conversion technologies, biomass and waste fuel sources, project development, project finance and project delivery.
Kedco was admitted to trading on AIM, a market operated by the London Stock Exchange, in October 2008 (AIM:KED).
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