HYR.L Regulatory News (HYR)

7 Dec 2007 15:16

Ludgate Environmental Fund Limited07 December 2007 Ludgate Environmental Fund makes a further investment into Hydrodec Group plc. AIM listed Ludgate Environmental Fund invests £500,000 in Hydrodec Ludgate Environmental Fund Limited ("LEF" or the "Fund"), a closed-endedinvestment company listed on the Alternative Investment Market of the LondonStock Exchange ("AIM"), has announced it has made a further investment of£500,000 in Ordinary Shares of Hydrodec Group plc ("Hydrodec" or "the Company").The Fund purchased 2,500,000 shares at a price of 20p per share.This follows anearlier investment of £3m in Hydrodec last month, then through the placing ofunsecured convertible loan notes.. Following this new investment, the Fund willhold 6.86% of the Company's share capital assuming full conversion of all theconvertible loan notes. About Hydrodec Hydrodec is listed on the London Stock Exchange ("AIM") - symbol "HYR". Hydrodec's technology is a patented sustainable oil refining process that takesexisting spent oil as feedstock to produce new specialty oils thus creating avirtuous "green" cycle. The process is closed loop and produces no harmfulemissions. It can indefinitely return "as good as new" oil ("Superfine") toutilities and transformer manufacturers (who supply the utilities) and at thesame time removes their lifetime stewardship liabilities for these harmfulsubstances. Hydrodec's first commercial process re-refines the used transformeroils that insulate and cool utility transformer boxes. It currently has oneoperating plant in Young, New South Wales in Australia, and is now expandinginto the USA with the construction of production plants in Canton, Ohio andLaurel, Mississippi. About Ludgate Environmental Fund: Ludgate Environmental Fund ("Ludgate Environmental" or the "Fund") is a Jerseydomiciled closed-ended investment company, listed on AIM. The Fund was launchedin August 2007, raising £26.7 million at listing. The Environmental/Cleantech sector is characterised by products and serviceswhich optimise the use of natural resources while reducing environmental impactin ways that enhance economic value. Opportunities include: energy efficiencyand alternative energy sources including renewable energy; water treatment andmanagement; waste management and resource recovery; industrial process advances;and emission reduction technologies. Ludgate Environmental has been launched to enable experienced and sophisticatedinvestors to participate in a diverse portfolio of investment holdings inEnvironmental/Cleantech companies. Ludgate Environmental believes that there area number of key drivers of growth, both in terms of business and investmentactivities, within this sector including: • increasing demand for, and decreasing supply of, natural resources; • rising concern over the economic costs of waste accumulation and pollution; • growing awareness of environmental issues amongst the public; and • environmental technology advances in recent years. The Fund's Investment Adviser, Ludgate Investments Limited, has significantexperience and a successful track record of investing in and helping to buildcompanies within this sector. Website: www.ludgateenvironmental.com Ludgate Environmental FundNick Pople / Nigel Meir+44 (0)20 7621 5770 Media Enquiries: David Hopkins,Carbon Internationaldavid.hopkins@carboninternational.com+44 (0)20 74837202 Samantha Hill,Carbon Internationalsamantha.hill@carboninternational.com+44 (0)20 74837205 This information is provided by RNS The company news service from the London Stock Exchange