LBB.L Regulatory News (LBB)

10 Mar 2008 07:00

Greenhouse Fund Limited (The)10 March 2008 The Greenhouse Fund Limited ("Greenhouse" or "the Fund") First Molectra Australia Contract Awarded The Directors of Greenhouse (AIM:GHF) are pleased to announce that its tyrerecycling subsidiary Molectra Australia Pty Ltd ("Molectra"), has been awardedits first large-scale contract to supply anti-cast products made from itsrecycled rebonded crumb rubber to the equine market. This contract should ensureMolectra achieves a minimum of breakeven by the end of Q3 2008. The contract will be supplied out of Molectra's Loganholm, Brisbane productionfacility and marks a key turning point for the technology as it moves from theresearch and development phase to a commercially viable process. Molectra was established in 2000 and has developed a sustainable process thatre-cycles and recovers materials including crumb rubber, oil and carbon fromused vehicle tyres. The technology has been developed over the last 10 years andhas won many international awards and prizes during this time, including the2007 DaimlerChrysler Australian Environmental Research Award. Roger Maddock, Non-executive Director commented, "I am delighted that followingthe hard work that has gone into developing and commercialising Molectra, thisfirst significant contract validates the technology. It is testament to theefficiency of the process that one contract can take an R&D facility intoprofitability." For further information please contact: Paul GazzardGreenhouse Advisor Ltd.Tel: 020 7355 7660Email: pg@greenhousefund.co.uk Stephen Mischler / Tim GrahamMatrix Corporate Capital LLP020 7925 3300 Graham HerringThreadneedle CommunicationsTel: 020 7936 9605Email: graham.herring@threadneedlepr.co.uk NOTES TO EDITORS About Greenhouse Greenhouse is an AIM quoted Jersey domiciled closed-ended investment companyestablished to invest principally in sustainable environmental technologies tocreate a portfolio of investment holdings in the environmental sector. This information is provided by RNS The company news service from the London Stock Exchange