Eqtec Regulatory News (EQT)

Kedco plc

Directorate Change Update

Kedco plc, ("Kedco" or the "Company") the waste to energy group focusing on the production of clean energy in the UK, Ireland and Eastern Europe, is pleased to provide the market with the following update following the recent changes at board level.

The Board wishes to state that the Company's strategy to build, own and operate biomass power generating plants remains the same. Kedco has a strong piepleine of 18 projects that it remains committed to developing and commercialisng. With the recent fundraisings and continued progress of its two lead projects in Newry and London, the Directors believe that the company is in a strong position to capitalise on the UK government support and expected growth within the biomass sector.

Alf Smiddy, Non Executive Chairman of Kedco, commented:

"On behalf of the Board I would like to thank Donal for his service to Kedco and wish him well in his future ventures. I would also like to say to all our stakeholders that Kedco will continue to implement its existing business strategy in full. This is a time of opportunity for biomass and in our view this sector now has the best risk return profile in the renewable energy space."

Donal Buckley, commented:

"I have enjoyed immensly taking Kedco to this stage in its development and I wish the board and all employees well in the future. Biomass is the most exciting area in the Renewable Energy sector and Kedco is ideally positioned to capitalise on this opportunity. I would like to thank all stakeholders and look forward with excitement to the future. I will continue to be involved as a shareholder and very much look forward to the continuing success of the group, and will use all endeavours to support the strategy we previously developed."

The interim CEO of Kedco will be Mr Gerry Madden who has been group Finance Director since 2007 and has more than two decades of experience in business in the UK and Ireland.

Kedco is currently constructing a 4MW biomass electricity and heat generating plant in Newry, Northern Ireland. The Company secured access to a project finance facility by Ulster Bank Group, a subsidiary of the Royal Bank of Scotland plc, to provide secured debt facilties in respect this plant and is expecting to enter in binding agreements shortly. The Company has also started preparatory work on a 12 MW biomass electricity and heat generating facility in Enfield, North London on which planning permission has been obtained.

The Company is in a joint venture with AgriKomp GmbH, a leading German supplier of biogas plants, with the aim of building and selling anaerobic digestion plants to convert primarily agricultural wastes into clean energy in the United Kingdom and Ireland.

Kedco is a development company and its strategy remains to build, own and operate biomass power generating plants. The current pipeline of identified projects remains very strong and the Company will continue to focus its efforts on sourcing the finance necessary to realisethese opportunities.

Ends

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