Information  X 
Enter a valid email address

XL TechGroup, Inc. (XLT)


Thursday 03 November, 2005

XL TechGroup, Inc.

AgCert operational update

XL TechGroup, Inc.
03 November 2005

Press Release                                                   3 November 2005

                               XL TechGroup Inc.

                               ('XL TechGroup')

      XL TechGroup company AgCert International makes operational progress

XL TechGroup (AIM: XLT) company, AgCert International plc ('AgCert'), has today
issued an update on its operational performance following its trading update
announcement dated 13 September 2005.

AgCert is pleased to announce progress has been made with its operations,
particularly with regard to two of the performance measures which had previously
fallen behind expectations, namely the number of digester completions and the
time taken to complete the modification of animal waste management systems.

From 10 September 2005 to 31 October 2005, an additional 57 farms have been
completed, bringing the total completed number of farms to 131.  AgCert is now
on track to exceed its internal operational target of 170 completed farms by 31
December 2005.  In addition, the recent completion time for digester
construction has been averaging less than 12 weeks, compared with 16 to 20 weeks
for the farms completed up to 10 September 2005.

As of today, AgCert has 23 Project Design Documents ('PDDs') in the Clean
Development Mechanism (CDM) regulatory process.  AgCert anticipates nearly
doubling its number of PDD submissions over the next 90 days and its management
remains focused on seeking to improve other operational metrics.  Although the
directors of AgCert are encouraged by this progress, they are not yet in a
position to revise their previous guidance on the timeframe for achieving
AgCert's inventory and sales targets for 2005 and 2006, and expect to provide a
full update by year end.

Bill Haskell, interim CEO of AgCert said:  'I am extremely pleased with the
progress made during the last several weeks.  We have increased our farm
completion rate and shortened the average completion time.  We are continuing in
our search for a new CEO and we will advise further when it is appropriate to do

Dr John Scott, CEO of XL TechGroup, said:  'Our previously stated belief that
the operational problems experienced at AgCert are of a short-term nature is
being substantiated by the operational progress being made, where the steps
being implemented are already producing tangible results.  As I have stated on
many occasions, we are committed shareholders in AgCert.'

                                    - Ends -

For further information:
XL TechGroup Inc.
John Scott / Harold Gubnitsky                       Tel: +1 321 409 7403
[email protected]                       

XL TechGroup media enquiries:
Abchurch Communications
Heather Salmond / Samantha Robbins                  Tel: +44 (0) 20 7398 7700
[email protected]        


About XL TechGroup

XL TechGroup identifies unmet market needs in the Biotech, Ecotech and Medtech
sectors and then systematically creates and develops successful disruptive
technology businesses to exploit these needs.  The Company has developed a
unique proven method to rapidly bring companies from inception to liquidity,
matching unexploited IP from a group of corporate and technology partners to the
identified unmet market need.  XL TechGroup employs its own predictive algorithm
to ensure the market will rapidly adopt the identified solution and then moves
to scale the company specifically created to exploit the opportunity.

Before forming XL TechGroup, the management team created substantial value for
shareholders over a twelve year period, successfully exiting six technology
businesses at an average market valuation of approximately US$500 million.

The listing of the first company created under the XL TechGroup banner, AgCert
International, continues to validate the systematic approach to value creation.

•         AgCert International was created by XL TechGroup in May 2002 and is a
global leader in the production and sale of agriculturally derived greenhouse
gas emission reductions, with business in Europe, Asia, North America and South
America.  AgCert was listed on the London Stock Exchange in June 2005 and XL
TechGroup maintains a 27.2% interest in AgCert.

The second and third companies in the new generation of XL TechGroup businesses

•         TyraTech LLC, which was created by XL TechGroup in July 2004, is
developing a new class of highly effective, non-toxic pesticides using cloned
insect chemoreceptors, based on approved, safe, natural oils.  Its development
is progressing rapidly particularly in consumer products and related human
healthcare applications.  TyraTech, which is 66.7% owned by XL TechGroup, is
continuing discussions with companies in North America, Asia and Europe as well
as numerous governments and national public health programs regarding the
licensing and distribution rights for its patented formulations in relation to
natural pesticide, insect transmitted diseases and healthcare products.

•         DxTech LLC was created by XL TechGroup in July 2005, and is developing
a unique micro-fluidic platform that replaces essentially all biological tests
currently performed at reference laboratories with a fully-automated,
point-of-care device.  This technology has applications in significantly
lowering costs and increasing efficiency for major pharmaceutical companies in
their clinical trials, the provision of diagnostics in developing countries and
delivering a new revenue stream for doctors in the USA.  DxTech is currently
100% owned by XL TechGroup.

XL TechGroup has a number of other opportunities already at an advanced stage in
its business creation pipeline, and expects to create one-to-two new companies
annually that can each achieve a liquidity event worth at least US$400 million
within four years from inception.

For further information, see

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                   

a d v e r t i s e m e n t