7 May 2015 07:05
7 May 2015
Hydrodec Group plc
("Hydrodec", the "Company" or the "Group")
2014 Annual Report and Accounts and Notice of Annual General Meeting
Following the release on 23 March 2015 of the Company's preliminary results for the year ended 31 December 2014, the Company announces that it has today published its Annual Report and Accounts for the year ended 31 December 2014 together with the notice convening the Company's Annual General Meeting. These documents are publicly available for viewing on the Company's website at www.hydrodec.com.
The Company's Annual General Meeting will be held at 10.00am on Tuesday 9 June 2015 at the offices of Norton Rose Fulbright LLP, 3 More London Riverside, London SE1 2AQ.
For further information please contact:
Hydrodec Group plc |
| 020 3300 1643 |
James Hodges, General Counsel and Company Secretary
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Peel Hunt LLP (Nominated Adviser and Broker) |
| 020 7418 8900 |
Justin Jones Mike Bell
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Vigo Communications (PR adviser to Hydrodec) |
| 020 7016 9570 |
Patrick d'Ancona Chris McMahon |
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Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world's electricity industry. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations. Hydrodec's plants are located at Canton, Ohio, US and Young, New South Wales, Australia. In 2013, Hydrodec acquired the business and assets of OSS Group, the UK's largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations. Used oil is converted into processed fuel oil at OSS's plant at Stourport and principally sold on to the UK quarry and power industry. In April 2015, Hydrodec further acquired the business and assets of Eco Oil, a leading UK waste oil collector and supplier of recycled industrial fuel oil into the power and road stone industries. It is also one of four significant providers of waste management services to the marine industry in the UK, specifically oily-water slops or marine pollutant (MARPOL). In line with our stated intention to develop a base oil re-refinery in the UK, we have an exclusive licence agreement with California-based Chemical Engineering Partners (CEP) to develop the CEP wiped-film evaporation and hydrogenation technology in the UK as well as the basic engineering for a 75 million litre per annum capacity base oil re-refinery.
Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.