TEG.L Regulatory News (TEG)

12 Jul 2005 12:07

TEG Environmental Plc12 July 2005 For release 12 July 2005 TEG Environmental Plc Sale of Silo-Cage to Banham Compost Ltd TEG Environmental Plc ("TEG" or "The Company"), the leading edge greentechnology company which converts organic wastes into natural organicfertilizer, announces that Banham Compost Ltd, a subsidiary of Banham PoultryLtd, has placed an order to purchase 56 of TEG's Silo-Cages, for £2 million. Banham Poultry Ltd, a privately-owned poultry processor, is based inAttleborough, Norfolk. It intends to process 35,000 tonnes of organic waste perannum which the TEG Silo-Cage in-vessel composting system will convert into anatural organic fertiliser. Commenting on the contract gain, Mick Fishwick, Chief Executive of TEGEnvironmental Plc said: "I am delighted that TEG has been selected by Banham asthe sole technology provider following an exhaustive review of competingtechnologies. The order is subject to planning permissions but the site is idealgiven it has existing planning permission for other waste operations." ENDS For further information please contact: TEG Environmental PlcMick Fishwick, Chief Executive 01772 422220 Binns & Co PR LtdPeter Binns Hannah Sloane 020 7786 9600 Editor's Notes: TEG provides an in-vessel composter, which is one of the few approvedtechnologies capable of treating animal bio-degradable waste. It has only onecompetitor in the UK offering a similar system. Plant economics are driven bythe gate fees charged, rather than the value of the end product (compost). The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, produces compost as an end product of a natural process used as anexcellent soil conditioner that fertilizes, retains moisture, provides structureand restricts weed growth. TEG's Silo-Cages will be housed in a self-containedbarn, are not unsightly and are environmentally friendly, unlike landfill orincineration. Using organic waste as part of the composting process can produce a higher valueproduct, more economically than traditional landfill methods, which areincreasingly subject to Government legislation, due to additional nutrients andfound in green waste. There are three alternatives for treating biodegradable waste: anaerobicdigestion, incineration and in-vessel composting. Anaerobic digestion is onlysuitable for liquid waste, incineration is expensive and unpopular locally andcomposting is a method of controlling and speeding up a natural decompositionprocess. Potential customers include contractors, local authorities, waste managementcompanies, food processors, farmers and landowners. The Company's expandingmarket is driven by increasingly stringent EU and UK legislation regulating thetreatment and disposal of organic waste. This information is provided by RNS The company news service from the London Stock Exchange