26 Jun 2009 14:22
| For release | 26 June 2009 |
The TEG GROUP PLC (TEG)
("TEG" or "the Company")
Disclosure of holdings
The TEG Group PLC, the AIM-listed cutting edge green technology company, which converts organic wastes into natural organic fertiliser, received notification on 25 June 2009 that as of 25 June 2009 Impax Asset Management Limited holds 4,492,000 ordinary shares in the Company representing 8.47% of the Company's issued ordinary share capital.
ENDS
Contact:
The TEG Group Plc Tel: 01772 644980
Tanja Willis, Finance Director
Peckwater PR Tel: 07879 458 364
Tarquin Edwards
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. Plant economics are predominantly driven by the gate fees charged, rather than the value of the end product (compost). The TEG process is an economic alternative to landfill.
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, used as 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.
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 Waste Resource Action Programme estimates that 450 composting plants will be needed by 2020 to satisfy local authority requirements alone, and there is increasing demand from the private sector driven by ABP legislation.
NOFCO 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 to be provided to customers to enhance TEG's overall service offering.