TEG Group (The) PLC
19 March 2007
For immediate release
19 March 2007
TEG GROUP PLC (TEG)
('TEG' or 'the Company')
INSTITUTIONAL PLACING UPDATE
TEG Group Plc, the leading green technology company, which converts organic
wastes into natural organic fertiliser announces that it is investigating
raising additional equity for the future development of its business by way of a
placing of shares with institutional investors. A further announcement will be
made in due course.
Contact:
The TEG Group Plc Tel: 01772 314100
Michael Fishwick, Chief Executive
Adventis Financial PR Tel: 020 7034 4757
Annie Evangeli
Cannacord Adams (Nomad) Tel: 020 7050 6500
Robert Finlay / Chris Bowman
Editor's Notes:
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.
This information is provided by RNS
The company news service from the London Stock Exchange
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