Porvair Regulatory News (PRV)

25 Jan 2005 07:00

Porvair PLC25 January 2005 For immediate release 25 January 2005 Porvair plc ("Porvair") Porvair wins major supply agreement Porvair today announces that it has signed a long term supply agreement with SGSolutions LLC ("SG"), one of the leading commercial coal gasification operatorsin the USA. Under the terms of the Agreement, Porvair will supply critical gasfilters to the SG Integrated Gasification Combined Cycle Generation ("IGCC")plant in Indiana. The exclusive agreement is initially expected to generateapproximately $1.5m orders per annum and could eventually be worth as much as atotal of $20m in sales. Porvair will supply specialist filters that are an integral part of the gasproduction process. The filters remove particulate and reduce the wear onequipment operating in very harsh environments. The SG plant is one of the first IGCC installations in the US to operatecommercially. IGCC plants convert coal or petroleum coke into synthetic gas,which is then used to fuel gas fired power stations. The benefits of IGCCtechnology include substantially lower air emissions, water consumption andsolid waste production than traditional coal fired power plants. Theseenvironmental attributes make it an important technology for enabling theeconomic advantages of coal to be captured with minimal environmental impact.This is particularly important in the US, which has 25% of the world's provencoal resources but less than 3% of the world's oil and natural gas resources,and in an era when coal prices have fallen relative to natural gas prices, whichare expected to remain high for several years. Ben Stocks, CEO of Porvair plc said:"We are delighted to have secured this contract with SG Solutions, whosetechnology for coal gasification is one of the few to be commerciallydemonstrated. This supply agreement is a further example of our strategy ofdeveloping technologies for new applications. Porvair is one of the fewspecialist filtration companies to have a proven track record in harshgasification environments." For further information please contact: Porvair plc 0207 466 5000 (today)Ben Stocks, Chief Executive 01553 765 500 (thereafter)Chris Tyler, Group Finance Director Buchanan Communications 0207 466 5000Charles Ryland / Ben Willey Notes to editors Porvair is a group of specialist filtration and advanced materials businesses.Its products are used in a range of niche filtration markets, and are derivedfrom its expertise in the development and manufacture of porous and microporousceramics, metals, plastics and carbons. This information is provided by RNS The company news service from the London Stock Exchange