LondonWaste Contract Award
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For release |
07:00 |
Date: 9th March 2011 |
The TEG GROUP PLC (TEG/L)
("TEG" or "the Company")
LondonWaste Contract Award
The TEG Group PLC, the AIM listed cutting edge green technology company, which develops and operates organic composting and energy plants, is pleased to confirm it has been awarded a waste supply contract by LondonWaste Limited ("LWL"). LWL is the operating company responsible for waste management for the North London Waste Authority and the contract is to process waste that is additional to the waste composted by LWL at its EcoPark in Edmonton.
The contract, for processing mixed food and green waste ("Mixed Waste"), will be for an initial 3-year term, commencing in April 2011, and has an option to extend to April 2017. The annual volume of the Mixed Waste is expected to be 12,000-15,000 tonnes per annum with a maximum obligation on TEG of 20,000 tonnes per annum.
As announced on 13 December 2010, TEG is developing a new anaerobic digestion ("AD") and in-vessel composing ("IVC") plant in Dagenham, East London, which is expected to be in operation in 2012. The Mixed Waste will be processed at the Dagenham plant from 2012 and in the meantime will be processed at TEG's IVC plant at Carleton Rode.
Commenting for TEG, Chief Executive Michal Fishwick said "we are delighted to have secured our first contracted waste in London and look forward to the development of our AD and IVC facility in Dagenham. It is very pleasing to have the support of LondonWaste Limited and this support will very much assist the development of the Dagenham plant."
ENDS
Contact:
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The TEG Group Plc |
Tel: 01772 644980 |
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Michael Fishwick, Chief Executive |
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Peckwater PR |
Tel: 07879 458 364 |
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Tarquin Edwards |
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Ambrian Partners Limited (Nomad) |
Tel : 020 7634 4705 |
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Andrew Craig / Ben Wright
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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.
TEG Biogas (Perth) Limited
TEG Biogas (Perth) Limited ("TEG Biogas") is a joint venture company established by TEG with Albion LLP. TEG Biogas is constructing a 16,000 tonnes per annum AD plant at TEG's Glenfarg site to produce 0.7MW of electrical power and 0.2MW of heat that is to be used by Binn Eco Park. The facility is due to be completed in March 2011 and commissioned in April 2011.
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.
This information is provided by RNS