3rd Dec 2008 07:00
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Press Release |
3 December 2008 |
Nviro Cleantech plc
("Nviro" or "the Company")
Directorate Change
Nviro Cleantech plc (AIM:NVR), a leader in commercialising clean technologies, announces that, at the meeting of the Board of Directors held December 1, James S D Leach proffered his resignation from the role of Chairman. Duncan Sedgwick was appointed as Interim Chairman while the Board considers the appointment of a new Chairman. Mr Leach will remain as a Non-Executive Director. Having recently retired from his roles based in Hong Kong with C L and P (Holdings) and other companies, he has moved his home to Vancouver and feels that the demands as Chairman of Nviro at this crucial time of the Company's development required more attention than he is able to provide.
Mr Sedgwick has been a member of the Non-Executive director team since 2006 and brings many years of experience with the power generation industry including Powergen and the Energy Retail Association, where he was the founding Chief Executive. More recently Mr Sedgwick has moved on to become Chief Executive of Secure Electrans Limited, remaining firmly involved in the power industry with this innovative energy metering and billing company.
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For further information:
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Nviro Cleantech plc |
Tel: +44 (0) 3178 7100 www.nvirocleantech.com |
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Chris Every, Chief Executive Officer |
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Grant Thornton Corporate Finance Nominated Adviser |
Tel: +44 (0) 20 7383 5100 www.grantthornton.co.uk |
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Fiona Owen |
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Fairfax I.S. PLC Broker |
Tel: +44 (0) 20 7598 5368 www.fairfaxplc.com |
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Ewan Leggat |
Media enquiries:
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Abchurch Communications Limited |
www.abchurch-group.com |
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Monique Tsang / George Parker |
Tel: +44 (0) 20 7398 7712 |
Notes to Editors
Nviro Cleantech plc is a leader in commercialising clean technologies which has developed a strong portfolio of innovative patent-protected businesses, the most advanced of which are Vertus Technologies and Microrelease.
Vertus uses a reductive thermal process (RTP) to remove moisture and contaminants (such as mercury and sulphur) and improve the performance of fuels, notably coal and biomass, producing consistent-quality, high-energy, cleaner-burning fuels tailored for the combustion profiles of client boilers. Furthermore, Vertus maximises effective and clean reuse of the process by-products.
Vertus has already established a range of significant commercial partnerships, under a build, own, and operate model, that include:
a contract with Cincinnati Bulk Terminals, primarily serving the US industrial power generation market;
an agreement with Shenyang Coal, an operator of mines and power plants in northeast China;
a Memorandum of Understanding with utility company CLP India to install a combined lignite and biomass plant.
Microrelease, Nviro's second business, recycles medium-density fibre ("MDF") and particle board into a high-quality reusable wood fibre. Nviro has already conducted successful trials on Microrelease with one of Europe's largest MDF producers, and is targeting the furniture, shopfitting and building industries for the commercialisation and purchase of this technology.
Nviro's portfolio also comprises two follow-on technologies, focusing on air quality evaluation and purification.
Nviro was quoted on London's Alternative Investment Market (AIM) in August 2007, and in June 2008 it successfully raised £10 million (before expenses) via a placing, which is being used primarily to commercialise Vertus and Microrelease.
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