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G&S Technologies increases stake in Hydrodec's US operation for $1.7m

Mon, 17th Oct 2016 10:58

(ShareCast News) - Transformer recovery company G&S Technologies Group bought a further stake in Hydrodec's US operation, which provides waste oil and workshop waste services, for $1.7m.G&S is to pay $1.37m of feedstock in raw material and $330,000 in cash for an additional 12.45% stake in Hydrodec of North America leaving Hydrodec with a 62.5% interest in the business.Chief executive Chris Ellis said: "With G&S we continue to focus on creating the best quality transformer oil in the US market and positioning ourselves to take advantage of significant forecast growth in demand in the United States. We will now evaluate the most appropriate timing and location for the expansion programme."According to a 2013 agreement, US-based G&S will be able to buy a final $1.7m interest in Hydrodec of North America to bring its overall interest to 49.9%, when two operating trains are established; this would increase capacity to 15 litres which would be financed equally between the owners.AIM-listed Hydrodec's oil re-refining and chemical process technology for the transformer oil market is used by the electricity industry and the global transformer oil market is expected to grow to $2.79bn by 2020 at a compound annual growth rate of 7.14%.The spent oil process at its two commercial plants eliminates polychlorinated biphenyl, a toxic additive banned under international regulations.Shares in Hydrodec were up 5.38% to 2.45p at 1110 BST.
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8 Sep 2016 14:54

Hydrodec becomes first re-refining oil producer to receive carbon credits

(ShareCast News) - Hydrodec, a specialist re-refiner of industrial oils, has received approval from the American Carbon Registry (ACR) to receive carbon credits for its oil. Typically, carbon credits permits assigned to a firm allow it to produce a certain amount of emissions which can then be trade

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18 Aug 2016 16:44

Hydrodec Group clinches transformative five-year contract with Essential Energy

(ShareCast News) - Hydrodec's Australian unit clinched a five-year exclusive contract to supply a major utility group Down Under with new inhibted transformer and switchgear oil. The start date for the contract with Essential Energy was September 2016. Under the terms agreed Hydrodex would collect

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20 Jul 2016 15:28

Hydrodec make a comeback in first half

(ShareCast News) - Hydrodec Group, a company which re-refines waste oil have announced record sales numbers for the first half of 2016, following on from their reported loss last year. The main drivers have been the firm's refocusing on core transformer oil re-refining technology by optimising the p

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20 Jul 2016 08:36

Hydrodec First-Half Revenue To Grow Strongly On "Significant" Progress

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24 Jun 2016 16:14

DIRECTOR DEALINGS: Hydrodec Non-Executive Buys First Shares

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10 Jun 2016 14:11

Directors dealings: NAIT boosts stake in EKF Diagnostics to 14.1%

(ShareCast News) - Harwood Capital, acting as investment manager on behalf of North Atlantic Smaller Companies Investment Trust PLC, picked up another large batch of shares in EKF Diagnostics. Christoper Mills, who was named to the post of non-executive chairman at the global point-of-care medical d

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10 Jun 2016 12:05

DIRECTOR DEALINGS: HydroDec Group CEO Buys Shares

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9 Jun 2016 17:10

DIRECTOR DEALINGS: Hydrodec Directors Add To Holdings

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7 Jun 2016 09:07

HydroDec Reports "Significant Progress" On Second Stage Of Plan

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6 Jun 2016 15:03

UK Shareholder Meetings Calendar - Next 7 Days

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12 Apr 2016 12:00

Low oil prices see HydroDec swing to a loss

(ShareCast News) - Clean-tech industrial oil re-refiner HydroDec swung to a loss in the 2015 calendar year, reporting tough trading in a low oil price environment on Tuesday. The AIM-traded company reported total income as decreasing to $43.8m, from $54.7m in 2014. HydroDec's total sales volumes in

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12 Apr 2016 09:47

HydroDec Loss Balloons Amid Low Oil Price and Canton Refinery Issues

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10 Mar 2016 13:47

Hydrodec achieves new production record and aims for more

(ShareCast News) - Hydrodec Group said its plant at Canton, Ohio, which re-refines waste transformer oil into a reusable product via its low emission process, has hit a monthly production record of 2.45m litres in February. The AIM-listed company said the Canton plant also achieved a record daily sh

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10 Mar 2016 10:31

Hydrodec Says Canton Refinery Hit Production Record In February

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7 Mar 2016 10:40

WINNERS & LOSERS SUMMARY: Break Up Speculation Lifts Old Mutual

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