24th Apr 2014 12:58
LONDON (Alliance News) - The TEG Group PLC Thursday said its biogas plant in Dagenham, east London, which received financial backing from the UK Green Investment Bank (GIB) is now in operation.
The plant, the first project GIB invested in via its Foresight-managed fund, is London's first commercial-scale anaerobic digestion and composting facility. It has been constructed, and is being operated and managed, by AIM-listed TEG Group.
The Foresight UK Sustainable Investment Fund raised GBP22.5 million in December 2007 to invest in environmental projects in the UK in the recycling and renewable energy sectors.
The TEG Group, which develops and operates organic composting and energy plants is now providing on-going operating and maintenance services to the plant under a 15 year contract.
The stock was trading at 4.43 pence Thursday, down 0.07 pence or 1.6%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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