Re Contract

RNS Number : 2862N

TEG Group (The) PLC

09 June 2010

 



 

For release

07:00

Date: 9 June 2010

The TEG GROUP PLC (TEG/L)

("TEG" or "the Company")

TEG Concludes Further Contract for

Green Waste with Perth & Kinross Council

The TEG Group Plc, the AIM-listed cutting edge green technology company, which develops and operates organic composting and energy plants, is pleased to announce that its subsidiary TEG Environmental Limited has concluded a further contract with Perth & Kinross Council ("the Council") to process garden waste ("Green Waste"). 

The contract is for a 3-year term and will cover all Green Waste collected by the Council.  The anticipated revenue from the contract ranges from approximately £50,000 to £100,000 per annum, depending upon the rate of waste arising.

Commenting for TEG, Chief Executive Mick Fishwick said:

"We are delighted to have been awarded the Green Waste contract by Perth & Kinross Council.  This contract is in addition to the mixed waste contract announced on 12 January 2010 and means TEG is able to provide a comprehensive service to the Council covering the full range of organic waste arising in the county."

ENDS

Contact:

The TEG Group Plc                                          Tel: [phone]

Michael Fishwick, Chief Executive

Peckwater PR                                                  Tel: [phone]

Tarquin Edwards                                               

Canaccord Genuity (Nomad)                            Tel : [phone]

Robert Finlay

Guy Blakeney

Editor's Notes:

TEG

TEG provides an in-vessel composting technology, which is one of the few approved technologies capable of treating animal by-product (ABP) waste, and is now providing an anaerobic digestion (AD) technology to produce power from food waste.  Plant economics are predominantly driven by the gate fees charged, rather than the value of the end product (compost).  The AD plants also benefit from power sales and Renewable Obligations Certificates ("ROCS") or Feed-in Tariffs ("FITs").  TEG owns its composting technology and has an agreement with UTS Biogastechnik GmbH ("UTS") for the provision of AD technology into the UK waste markets.  The TEG processes are an economic alternative to landfill.

The TEG Silo Cage System

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.  The compost is 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.

Collaboration with UTS

Having supplied equipment to more than 1,500 equipped biogas plants, UTS Biogastechnik GmbH is one of the world's leading biogas companies.  The UTS group of companies offers services in the planning, construction, delivery and installation of biogas plants and their key components.  The company has its own production facilities and service shops, technical design and development departments as well as mobile mechanical and biological customer service technicians to support the international client base.  UTS also develops and sells specialized mixers, pumps and a variety of solid/liquid separating devices related to the biogas and agro/food markets. The company is headquartered near Munich, Germany with subsidiaries in Italy, Hungary, Spain, the Czech Republic and now a rapidly developing company UTS Biogas Limited. to service the United Kingdom & Ireland markets.

General

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 Natural Organic Fertiliser Company Limited ("NOFCO"), a subsidiary of TEG, 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 provided to customers to enhance TEG's overall service offering.

 

END

 

 

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