HYR.L Regulatory News (HYR)

5 Apr 2005 10:32

HydroDec Group plc05 April 2005 FOR IMMEDIATE RELEASE5 April 2005 HydroDec Group plc Appointment of Chief Executive Officer The Board of HydroDec Group plc ("HydroDec" or "the Company") (AIM: HYR) todayannounces the appointment of Christopher John Nash as its chief executiveofficer. Nash, aged 46, has wide international experience in building technology basedcompanies in the telecom and utility sectors, working in Asia, Europe and theAmericas. Most recently he was a member of the Executive Board and Senior VicePresident of Strategy and Corporate Development at Global Crossing Ltd andpreviously Head of Corporate Finance at Cable and Wireless plc. He originally trained as a Civil Engineer at Imperial College (LondonUniversity) and went on to complete an MBA at Manchester Business School beforejoining SG Warburg and Co. Ltd. John Gunn, non-executive chairman of HydroDec said: "We are delighted to havehired someone of Christopher's experience and expertise to take this business tothe next stage of its development. We are about to embark on a new productionfacility in Australia and are also exploring ways to expand the business on aglobal basis. Christopher's experience will be most useful in this regard." HydroDec confirms that no other details are required to be disclosed underparagraph f of Schedule 2 of the AIM Rules with respect to Christopher Nash. For further information please contact: John Gunn, Chairman Nick FoxHydroDec Group plc M: Communications LimitedTel: 020 7236 6236 Tel: 020 7153 1530 Notes to Editors: HydroDec was established to commercialise the HydroDec Technology, which is anoil re-refining process designed to remove harmful contaminants, such as PCBs.The HydroDec Technology is based on intellectual property comprising a protectedpatent in Australia and certain other jurisdictions developed by theCommonwealth Scientific and Industrial Research Organisation of Australia.HydroDec has entered into an exclusive global license with CSIRO for themarketing and distribution of the HydroDec Technology. It recently announced that it has committed the sum of £1 million (one millionpounds) to the construction of a new, larger HydroDec plant capable ofprocessing up to 20,000 litres (per day) of speciality oils and/or chlorinatedorganic wastes as was envisaged in the Company's AIM admission document dated 25November 2004. The Company is in the process of finalising the design specifications andanticipates that plant construction will commence in Australia, and the overallconstruction period will be approximately nine months. When fully operational,the new plant will produce a near seven-fold increase in HydroDec's processingcapacity. Since June 2004, a 3,000 litre (per day) HydroDec plant has been operating inAustralia principally re-refining PCB contaminated transformer oils forAustralian power utilities. The technology has also been used to treat a varietyof other chlorinated organic wastes, commonly referred to as "PersistentOrganics Pollutant" ("POPs"). This information is provided by RNS The company news service from the London Stock Exchange