11th Jun 2007 08:55
ReEnergy Group PLC11 June 2007 ReEnergy Group plc ("ReEnergy" or the "Group") Memorandum of understanding with AMEC ReEnergy, the waste management, sustainable energy and water treatment company,is pleased to announce that it has entered into a Memorandum of Understanding("MOU") with AMEC plc ("AMEC") to collaborate on waste management projects basedon the Fibrecycle process owned by Estech Europe Limited ("Estech"), the Group's51 per cent. owned subsidiary. On 14 March 2007 ReEnergy announced that a review of the Group's activities hadidentified the importance of strategic alliances in developing the Group'sactivities, and that it was to seek partnerships with companies with theappropriate complementary skills and resources to take the businesses forward. Based upon the relationship forged with AMEC in developing the engineering,procurement and construction contract for the Hereford and Worcester project,AMEC and ReEnergy have entered into a memorandum of understanding to worktogether to bid for and develop projects based upon the Estech Fibrecycleprocess. As previously announced, contract negotiations between Estech and the councilsof Hereford and Worcester for the provision of two Fibrecycle plants were haltedin December 2006. However the Group continued to develop the detailed plantdesign with AMEC as the standard generic Fibrecycle plant. As part of the collaboration with AMEC, the Group intends to pursue a newdialogue with Hereford and Worcester and have submitted an alternative proposalbased on Estech's market leading autoclave technology that the directors ofReEnergy believe overcomes the Councils' earlier concerns. Roger Hewitt, Executive Chairman of ReEnergy said; 'This is a very important development for ReEnergy, AMEC and the wastemanagement market. We are able to offer a strong and competitive technology andcontracting approach that will enable us together to submit proposals for thewide range of PFI schemes that are now beginning to emerge in the wastemanagement sector. ReEnergy is already vigorously pursuing the development ofmerchant plant facilities using the Estech autoclave technology. The requirementfor such plants to contribute to the Government's Waste Strategy diversiontargets offers serious development potential for the group.' Enquiries: Roger Hewitt (020) 7432 0340Executive Chairman ReEnergy Group plc Anthony Cardew (020) 7930 0777Cardew Group This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L