6th Jan 2009 07:00
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Press Release |
6th January 2009 |
Nviro Cleantech plc
("Nviro" or "the Company")
Directorate Change
New CFO and Engineering Director to drive commercialisation as revenue proves imminent
Nviro Cleantech announces today management changes reflecting the needs of the company as it approaches revenue generation in 2009 .
Peter Rugg, who has fulfilled the role of Chief Financial Officer since the early days of the Company will be stepping down from the Board with immediate affect to pursue personal business interests whilst remaining available to the Company for specific consulting assignments. The Board wishes to expresses its gratitude to Peter for his dedication and service in the formative years of the Company.
The Company is pleased to announce two appointments - Christopher Tawney as UK based Chief Financial Officer, and Bernard Gray as Group Director of Engineering, as of today's date.
Chris Tawney brings to the Company broad financial experience, having qualified with Pricewaterhouse, and subsequently worked for a wide range of UK and international companies, particularly in the minerals and energy sectors. His "green energy" experience, with bio diesel specialists D1 Oils plc, is particularly relevant to Nviro as is his recent involvement in the AIM market. Mr Tawney will bring this wealth of skills and contacts to bear on Nviro and its businesses, evolving it from a development company to one with significant international operational activities over the coming year.
Bernard Gray has been successfully leading the engineering effort for Nviro's Microrelease business as Project Director for the last three years. Combining his previous experience managing development engineering for multinational automotive supplier TRW Automotive (NYSE:TRW) with more recent major projects, including the building of a materials technology business, Eften Europa (a significant supplier to the automotive industry) from 'greenfield' status . Mr Gray will continue to provide Nviro with exceptional technical insight. He will be focussing primarily on refining the engineering platform and growing an international team for the energy business as it rolls out global projects based upon the Cincinnati site which is now in its final stages of construction.
"This step-change in our senior team comes at a turning point in the commercialisation of the Company," said Chief Executive Chris Every. "We are planning and strengthening management with these non-Board appointments to drive future growth of the business, based upon the successful fuel treatment site at Cincinnati in the USA which will become revenue-generating during 2009. I look forward to working with Chris and Bernard in their new roles as we further develop the infrastructure for Nviro's future as a profitable, multi-site operating business serving energy and resource hungry markets across the globe. At the same time, on behalf of the Company, I would like to wish Peter Rugg well and to thank him for a huge contribution to the initial development phase of Nviro Cleantech, from start-up to take-off."
- ENDS -
For further information:
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Nviro Cleantech plc |
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Chris Every, Chief Executive Officer |
Tel: +44 (0) 20 3178 7100 |
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www.nvirocleantech.com |
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Grant Thornton UK LLP - Nominated Adviser |
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Fiona Owen |
Tel: +44 (0) 20 7383 5100 |
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www.grantthornton.co.uk |
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Fairfax I.S. PLC Broker |
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Ewan Leggat |
Tel: +44 (0) 20 7598 5368 |
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www.fairfaxplc.com |
Media Enquiries:
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Abchurch Communications Ltd |
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George Parker / Monique Tsang |
Tel: +44 (0) 20 7398 7719 |
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george.parker@abchurch-group.com |
www.abchurch-group.com |
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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