Notice of Results

RNS Number : 2425S

TEG Group (The) PLC

08 September 2010

 



 

For release

07:00

Date: 8 September 2010

The TEG GROUP PLC (TEG/L)

("TEG" or "the Company")

Notice of Results

 for the half year ended 30 June 2010

The TEG Group Plc, the AIM-listed cutting edge green technology company, which develops and operates organic composting and energy plants, will be announcing its interim results for the half year ended 30 June 2010 on Monday, 20 September 2010.

There will be an analyst briefing on the day at 09.00 at the offices of Ambrian Partners:

Old Change House, 128 Queen Victoria Street, London, EC4V 4BJ  Tel: [phone]

If you would like to attend, please contact Tarquin Edwards on 020 7808 7340 or by email on [e-mail] to confirm numbers.

ENDS

Contact:
The TEG Group Plc	Tel: [phone]
Mick Fishwick, Chief Executive	www.theteggroup.plc.uk
Tanja Willis, Finance Director
Ambrian Partners Limited (Nomad)	Tel : [phone]
Andrew Craig / Ben Wright
Peckwater PR	Tel: [phone]
Tarquin Edwards	[e-mail]

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.

Anagest, Stormy Down, Bridgend

TEG announced on 12 October 2009 that it will be developing a facility at Stormy Down, near Bridgend in association with Anagest, itself a joint venture between the site owner, a cement manufacturer (Cenin) and a farming concern, to develop a co-located anaerobic digestion ("AD") and in-vessel composting ("IVC") plant.

The site at Stormy Down benefits from planning permission for an AD plant and an IVC plant. The site is ideal for AD development with demand for heat and power from the cement manufacturer and outlets for the digestate through the farming partner.  It is intended that construction at the facility will commence in 2010 and will ultimately provide up to 70,000 tonnes per annum of organic waste treatment capacity.

TEG Biogas (Perth) Limited

TEG announced on 26 July 2010 that it will be establishing its first anaerobic digestion ("AD") plant to operate alongside the Group's well established in vessel composting plant at Glenfarg, Perthshire.  The Company has formed a 50:50 joint venture ("JV"), TEG Biogas (Perth) Limited ("TEG Biogas") with Albion Ventures LLP ("Albion"), the London based venture capital investor.  TEG Biogas is to construct and operate a 16,000 tonnes per annum food waste AD plant and TEG will operate the plant on behalf of TEG Biogas under a management agreement.  TEG will manage sales and will supply waste to the AD facility from its surplus currently under management.

TEG Biogas has been awarded a grant for approximately 20% of the plant and equipment capital funding (£700,000) by Zero Waste Scotland, the Scottish Government funded organisation that provides support to the waste and recycling sector.  The grant will help fund the purchase of the AD plant and equipment.  The TEG Biogas facility is expected to generate approximately 0.7 MW of electricity and 0.25 MW of heat. 

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

 

 

NORBRGDCSGGBGGL