TEG.L Regulatory News (TEG)

21 May 2007 07:01

TEG Group (The) PLC21 May 2007 For release 7:00am 21 May 2007 The TEG GROUP PLC (TEG) ("TEG" or "the Company") Completion of £1.7m Banham Compost Plant The TEG Group Plc ("TEG" or "the Company"), the AIM-listed cutting edge greentechnology company, which converts organic wastes into natural organicfertiliser, announces it has completed the construction of the TEG Silo Cageplant for Banham Compost Ltd. Following a period of commissioning, training andfamiliarisation, the plant was handed over on 18 May 2007. The final invoicedcontract value was approximately £1.7m. TEG will continue to work closely with Banham Compost Ltd and will continue toprovide technical support and assistance and will provide its standard warrantyperiod. ENDS Contact: The TEG Group Plc Tel: 01772 314100Michael Fishwick, Chief Executive Adventis Financial PR Tel: 020 7034 4758Tarquin Edwards 07879 458 364 Cannacord Adams (Nomad) Tel : 020 7050 6742Chris Bowman Editor's Notes: TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product (ABP) waste. Planteconomics are predominantly driven by the gate fees charged, rather than thevalue of the end product (compost). The TEG process is an economic alternativeto 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 fertilises, retains moisture, provides structureand reduces the incidence of plant disease. TEG's Silo-Cages are housed inself-contained buildings, are not unsightly and are environmentally friendly. 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. Statutory targets for the diversion of waste fromlandfill increase annually through to 2020, increasing TEG's market opportunityyear on year. The Waste Resource Action Programme estimates that 450 compostingplants will be needed by 2020 to satisfy local authority requirements alone, andthere is increasing demand from the private sector driven by ABP legislation. NOFCO is a marketing company specialising in the development of end markets forcompost products, an important aspect of all plant developments and key to localauthority development. The company has an expertise in the development ofagricultural and horticultural markets and this capability is to be provided tocustomers to enhance TEG's overall service offering. This information is provided by RNS The company news service from the London Stock Exchange