TEG Environmental Plc
07 November 2005
For Release 7:00am 7 November 2005
TEG ENVIRONMENTAL PLC
PLANNING APPROVAL FOR PLANT IN IRELAND
'Opportunity to commercialise existing asset'
TEG Environmental Plc ('TEG' or 'the Company'), the leading green technology
company, which converts organic wastes into natural organic fertilizer, is
pleased to announce that planning approval has been granted by Kildare County
Council for the Company to operate its Silliot Hill plant, County of Kildare,
Ireland, for a further 10 years.
The Kildare plant is owned by TEG and was built in 2002. It was originally used
to process sewage sludge. TEG now plans to process food waste and green waste
materials using the 24 Silo-Cage unit, treating up to 15,000 tonnes of waste per
year.
Said Mick Fishwick, Chief Executive, TEG Environmental:
'The renewal of planning permission for our Kildare plant is another positive
development for the Company. While we respect the decision-making process in
Ireland, we are now very confident that Kildare will once again function as a
waste processing plant, bringing in additional revenues for TEG.'
'This planning approval represents a significant step forward, allowing the
Company to commercialise this existing asset. Ireland represents an attractive
market for the Company, as gate fees are high and there is a strong demand for
composting. TEG is considering its options over the future of the plant and has
been in discussion with a number of parties These discussions can now be brought
to a conclusion.'
He added: 'Mindful of due process and under Irish planning law, the Company
notes that any opponents of a planning decision have the right of appeal. If an
appeal is forthcoming, it may not be determined until April 2006, although it
could be earlier. Nevertheless, TEG believes the planning approval is a major
step forward and the Company is confident of a successful outcome.'
'Alongside several items of important legislation being implemented this year in
the general recycling and organic waste sectors, TEG is particularly pleased to
see momentum growing vis-a-vis this planning approval and the announcement of
the Company's contract wins since last March'.
ENDS
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|Contact: | |
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|TEG Environmental Group Plc |01772 314100 |
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|Michael Fishwick, Chief Executive | |
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| | |
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|Binns & Co PR Ltd |020 7786 9600 |
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|Peter Binns / Tarquin Edwards |07768 392 582 / 07879 458 364 |
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Editor's Notes:
TEG provides an in-vessel composting technology, which is one of the few
approved technologies capable of treating animal by-product waste. Plant
economics are 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 fertilizes, retains moisture, provides structure
and restricts weed growth. TEG's Silo-Cages will be housed in a self-contained
building, are not unsightly and are environmentally friendly.
Potential 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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