TEG.L Regulatory News (TEG)

RNS Number : 7571O

TEG Group (The) PLC

02 July 2010

 

 

For release

2 July 2010

 

 

 

The TEG GROUP PLC (TEG)

("TEG" or "the Company")

 

Appointment of Director

 

The TEG Group Plc, the AIM-listed cutting edge green technology company, which develops and operates organic composting and energy plants, is pleased to announce that Ian Anthony Hislop has been appointed to the Board of The TEG Group PLC as a Non-Executive Director with effect from 2nd July 2010.

 

Ian, 62, who is a consultant to Bridges Ventures, has over 20 years of experience of development capital investment in both public and private companies. While working for Causeway Capital, a venture capital firm, he set up and ran two funds totalling £135 million which specialised in taking significant holdings in small quoted companies. Previously he spent 13 years with N.M. Rothschild & Sons in London and Hong Kong. He has sat on the boards of a number of public and private companies in order to assist them with their strategic development.

 

Ian has a beneficial interest of 303,030 shares in The TEG Group Plc.

 

Commenting, Nigel Moore, Chairman of The TEG Group said:

 

"We look forward to Ian joining our board at this exciting period in the Company's next stage of development. Ian has extensive international business expertise and significant experience on the board of a number of substantial companies. We are confident he will contribute to the Company's long term growth plans."

 

Other than the directorships disclosed below, there are no other matters to be disclosed in relation to this appointment under paragraph (g) of Schedule Two of the AIM Rules.

Ian holds, or has held, the following directorships in the last five years:

Current Directorships

 

Morex Investment LLP

Gandi Group Limited

Mortmain Limited

 

Previous Directorships

None

 

 

ENDS

 

Contact:

 

The TEG Group Plc Tel: 01772 644980

Michael Fishwick, Chief Executive

Tanja Willis, Finance Director

 

Peckwater PR Tel: 07879 458 364

Tarquin Edwards

 

Canaccord Genuity (Nomad) Tel : 020 7050 6500

Robert Finlay

Guy Blakeney

 

 

Editor's Notes:

 

 

TEG

 

TEG provides an in-vessel composting technology, which is one of the few approved technologies capable of treating animal by-product (ABP) waste, and is now providing an anaerobic digestion (AD) technology to produce power from food waste. Plant economics are predominantly driven by the gate fees charged, rather than the value of the end product (compost). The AD plants also benefit from power sales and Renewable Obligations Certificates ("ROCS") or Feed-in Tariffs ("FITs"). TEG owns its composting technology and has entered into a licensing agreement with UTS Biogastechnik GmbH ("UTS") for the supply of UTS anaerobic digestion ("AD") technology into the UK waste markets. The Agreement is subsequent to the collaboration agreement between the parties that was announced on 10 March 2009.

Further to the Licensing Agreement with UTS, TEG announced in December 2009 a collaboration agreement with Alkane Energy PLC. The partnership brought together TEG's experience and proven ability in the waste sector with Alkane's knowledge and experience of the energy sector and its ability to secure electricity prices, Renewable Obligation Certificates and Feed in Tariffs. The partnership further enhances the Group's ability to successfully bid for Local Authority and other large AD based contracts. The TEG processes are an economic alternative to landfill.

The TEG Silo Cage System

 

The Silo Cage system, one of the few technologies in Europe capable of treating this waste, is a natural process producing compost as an end product. The compost is an excellent soil conditioner that fertilises, retains moisture, provides structure and reduces the incidence of plant disease. TEG's Silo-Cages are housed in self-contained buildings, are not unsightly and are environmentally friendly.

 

Collaboration with UTS

 

Having supplied equipment to more than 1,500 equipped biogas plants, UTS Biogastechnik GmbH is one of the world's leading biogas companies. The UTS group of companies offers services in the planning, construction, delivery and installation of biogas plants and their key components. The company has its own production facilities and service shops, technical design and development departments as well as mobile mechanical and biological customer service technicians to support the international client base. UTS also develops and sells specialized mixers, pumps and a variety of solid/liquid separating devices related to the biogas and agro/food markets. The company is headquartered near Munich, Germany with subsidiaries in Italy, Hungary, Spain, the Czech Republic and now a rapidly developing company UTS Biogas Limited. to service the United Kingdom & Ireland markets.

 

Anagest, Stormy Down, Bridgend

TEG announced on 12 October 2009 that it will be developing a facility at Stormy Down, near Bridgend in association with Anagest, itself a joint venture between the site owner, a cement manufacturer (Cenin) and a farming concern, to develop a co-located anaerobic digestion ("AD") and in-vessel composting ("IVC") plant.

 

The site at Stormy Down benefits from planning permission for an AD plant and an IVC plant. The site is ideal for AD development with demand for heat and power from the cement manufacturer and outlets for the digestate through the farming partner. It is intended that construction at the facility will commence in 2010 and will ultimately provide up to 70,000 tonnes per annum of organic waste treatment capacity.

 

General

 

Customers include local authorities, waste management companies, food processors, farmers and landowners. The Company's expanding market is driven by increasingly stringent EU and UK legislation regulating the treatment and disposal of organic waste. Statutory targets for the diversion of waste from landfill increase annually through to 2020, increasing TEG's market opportunity year on year. 

 

The Natural Organic Fertiliser Company Limited ("NOFCO"), a subsidiary of TEG, is a marketing company specialising in the development of end markets for compost products, an important aspect of all plant developments and key to local authority development. The company has an expertise in the development of agricultural and horticultural markets and this capability is provided to customers to enhance TEG's overall service offering.

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