Porvair PLC
25 January 2005
For immediate release 25 January 2005
Porvair plc ('Porvair')
Porvair wins major supply agreement
Porvair today announces that it has signed a long term supply agreement with SG
Solutions LLC ('SG'), one of the leading commercial coal gasification operators
in the USA. Under the terms of the Agreement, Porvair will supply critical gas
filters to the SG Integrated Gasification Combined Cycle Generation ('IGCC')
plant in Indiana. The exclusive agreement is initially expected to generate
approximately $1.5m orders per annum and could eventually be worth as much as a
total of $20m in sales.
Porvair will supply specialist filters that are an integral part of the gas
production process. The filters remove particulate and reduce the wear on
equipment operating in very harsh environments.
The SG plant is one of the first IGCC installations in the US to operate
commercially. IGCC plants convert coal or petroleum coke into synthetic gas,
which is then used to fuel gas fired power stations. The benefits of IGCC
technology include substantially lower air emissions, water consumption and
solid waste production than traditional coal fired power plants. These
environmental attributes make it an important technology for enabling the
economic advantages of coal to be captured with minimal environmental impact.
This is particularly important in the US, which has 25% of the world's proven
coal resources but less than 3% of the world's oil and natural gas resources,
and in an era when coal prices have fallen relative to natural gas prices, which
are expected to remain high for several years.
Ben Stocks, CEO of Porvair plc said:
'We are delighted to have secured this contract with SG Solutions, whose
technology for coal gasification is one of the few to be commercially
demonstrated. This supply agreement is a further example of our strategy of
developing technologies for new applications. Porvair is one of the few
specialist filtration companies to have a proven track record in harsh
gasification environments.'
For further information please contact:
Porvair plc 0207 466 5000 (today)
Ben Stocks, Chief Executive 01553 765 500 (thereafter)
Chris Tyler, Group Finance Director
Buchanan Communications 0207 466 5000
Charles Ryland / Ben Willey
Notes to editors
Porvair is a group of specialist filtration and advanced materials businesses.
Its products are used in a range of niche filtration markets, and are derived
from its expertise in the development and manufacture of porous and microporous
ceramics, metals, plastics and carbons.
This information is provided by RNS
The company news service from the London Stock Exchange
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