Last checked at 7 Apr 2016 14:01
7 April 2016
REACT Energy plc
("REACT" or the "Company")
Clay Cross Biomass Limited planning application
The Company is aware of the publication of a report by the Strategic Director - Economy, Transport and Communities to the Regulatory Planning Committee (the "Committee") of Derbyshire County Council in relation to the construction and operation of an energy recovery facility at Clay Cross in Derbyshire by Clay Cross Biomass Limited, a subsidiary company of REACT (the "Report"). The purpose of the Report is to enable the Committee to determine the planning application at its next meeting on 11 April 2016.
Whilst the Report recommends that, subject to certain conditions, planning permission would be granted, there is no guarantee that the Committee will adopt this recommendation. Further, in the event that the recommendation is adopted by the Committee, there are a number of conditions precedent to the development of Clay Cross, including, inter alia, the raising of the necessary finance by the Company to fund development.
The decision to grant the planning permission or not, subject to the fulfillment of the conditions set out in the Report, is expected to be decided by the Committee at its meeting on 11 April 2016.
Further announcements will be made by the Company in due course.
For further information:
REACT Energy plc Gerry Madden / Brendan Halpin | +353 (0)21 2409 056 |
Strand Hanson Limited - Nomad & Broker James Harris / Richard Tulloch / Ritchie Balmer | +44 (0)20 7409 3494 |
About REACT:
REACT Energy plc is committed to operating clean electricity and heat generation plants in the UK and Ireland. The Company seeks to identify, build, own and operate renewable projects and possesses significant knowledge of energy markets, clean technologies, fuel sources, project development, project finance and project delivery. REACT currently has four operational clean energy plants generating revenue from the sale of electricity and heat. The generation of clean electricity and heat from sustainable sources has the potential to address the key energy challenges of energy security and carbon commitment and provide strong returns on capital employed.
The Company is quoted on AIM and trades as REAC. Further information on the Company can be found at www.reactenergyplc.com.