LBB.L Regulatory News (LBB)

15 Feb 2007 07:01

Greenhouse Fund Limited (The)15 February 2007 For immediate release 15 February 2007 The Greenhouse Fund Ltd. ("Greenhouse" or "the Company") Commercial pilot plant for Molectra commences production The Directors of The Greenhouse Fund Ltd. (AIM: GHF) are delighted to announcethe commencement of continuous daily operations of the Molectra Australia PtyLtd ('Molectra') pilot plant, which recycles tyres to produce high-grade crumbrubber, oil and carbon. The pilot of this patented process that has beenestablished in Queensland, Australia, has been delivered within the Greenhouse'sprojected timescale and on budget. The primary objectives of the pilot trial are to establish the scalability andthe continuous commercial viability of the technology. During this period anindependent engineering report will be completed on the full-scale economics ofthe process. The derivative products from the process are; •High grade crumb rubber; for high volume use in road surfacing and other applications or in high value rebonded rubber products •Oil; which may be further fractionated into valuable end products including limolene for fragrances and high value fuels •Carbon; used for industrial applications such as activated carbon and carbon black. The Directors anticipate the Queensland facility will become a centre ofexcellence for this technology and a reference site to showcase the Molectraprocess to the global rubber and recycling industries. Greenhouse invested £750,000 for a 32% holding in Molectra on 27 March 2006 tofinance the development of the pilot plant. Molectra retains ownership of all ofits Intellectual Property, and further investment in the company from Greenhouseis dependent on the company meeting certain milestones. Greenhouse Chairman Nigel Wray commented, "Molectra was Greenhouse's maiden investment and I am delighted that productionhas started on time and on budget. The Molectra process has the potential tobecome a leading global recycling technology and this is a key first steptowards realising this ambition. I look forward to announcing further corporatedevelopments in the near future." For further information please contact: Paul Gazzard,Greenhouse Advisor Ltd.Tel: 0207 355 7660Email: pg@greenhousefund.co.uk Charles Ryland/Ben WilleyBuchanan Communications0207 466 5000Email: charlesr@buchanan.uk.comEmail: benw@buchanan.uk.com This information is provided by RNS The company news service from the London Stock Exchange