TEG.L Regulatory News (TEG)

8 Feb 2006 07:00

TEG Environmental Plc08 February 2006 For Release 7:00 a.m 8 February 2006 TEG ENVIRONMENTAL PLC Collaboration Agreement with Glendale Managed Services Ltd TEG Environmental Plc ("TEG" or "the Company"), the cutting edge greentechnology company, which converts organic wastes into natural organicfertiliser, announces that the Company has finalised a collaboration agreementwith Glendale Managed Services Ltd ("Glendale"), a division of Parkwood HoldingsPLC, a full-quoted Support Services company on the London Stock Exchange. Thecollaboration agreement is for the joint bidding of commercial scale compostingprojects to Local Authorities to both build TEG composting plants andbeneficially use the compost product in Local Authority parks and recreationalareas. Glendale is the leading parks maintenance business in the UK, with over 100Local Authority contracts. It generates significant quantities of compostablewaste and also has a substantial requirement for large quantities of compost andfertiliser. Glendale also owns EcoSci, the green waste composting business inthe South West of England. The collaboration combines Glendale's impressivepresence in the public sector, with TEG's leading technology. The partnershipoffers a unique capability to recycle a Local Authority's organic waste backinto a high quality compost product that can be used on parks and recreationalareas for the benefit of Local Authority residents. With its wealth of Local Authority experience, it is expected that Glendale willlead tenders and TEG will provide the technical element. For each successfultender, Glendale will provide project management expertise from its projectmanagement division. TEG will design and build the plants, provide operationalexpertise and train staff local to the new facilities. Commenting, Mick Fishwick, Chief Executive of TEG Environmental, said: "This collaboration represents another exciting phase in TEG's increasinglyswift development. Glendale is a major player in the Local Authority market andhas an expertise in compost and fertiliser product design, as well as a readymade outlet for local product. This agreement reduces TEG's barriers to entryinto the Local Authority market and significantly increases sales opportunities.We expect the Local Authorities to be excited by the opportunity to recycleproducts locally for beneficial use in their own region. Given the recent highvolume of tenders as Local Authorities address their recycling obligations, weare optimistic of a significant boost to sales." ENDS Contact: TEG Environmental Group PlcMichael Fishwick, Chief Executive 01772 314100 Binns & Co PR LtdPeter Binns/ Tarquin Edwards 020 7786 9600 Editor's Notes: TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product waste. Planteconomics are driven by the gate fees charged, rather than the value of the endproduct (compost). The TEG process is an economic alternative to landfill. The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, is a natural process producing compost as an end product, used as anexcellent soil conditioner that fertilizes, retains moisture, provides structureand reduces the incidence of plant disease. TEG's Silo-Cages are housed in aself-contained building, are not unsightly and are environmentally friendly. Potential customers include local authorities, waste management companies, foodprocessors, farmers and landowners. The Company's expanding market is driven byincreasingly stringent EU and UK legislation regulating the treatment anddisposal of organic waste. This information is provided by RNS The company news service from the London Stock Exchange