HYR.L Share News (HYR)

(ShareCast News) - Cleantech industrial oil re-refining group Hydrodec said the transformer oil produced from its recently rebuilt Canton re-refinery in Ohio has achieved '500hr' oil status, certifying the oil to be sufficiently high quality to access the larger power transformer market.The company said all six trains at Canton were now in service and confirmed that it has achieved an all-time daily production record from the Canton plant of over 94,000 litres.The Canton plant, which suffered from initial issues after commissioning last July, produced 10.5m litres of processed oil in 2015 in line with previously stated projections.Acting chief executive Chris Ellis said: "Achieving '500hr' oil status and these levels of production at the Canton plant are significant milestones and provide a solid base from which to deliver our 2016 production and sales targets for transformer oil into the US market."This is the first step in management's focus across the group on execution, delivering improved operational performance and efficiencies and driving the company to a profitable 2016."At 0940 GMT, Hydrodec shares were up 46% to 4.00p.