12th Oct 2007 07:00
Nviro Cleantech plc12 October 2007 Nviro Cleantech plc ("Nviro Cleantech" or "the Group") Agreement with CLP India Nviro Cleantech plc (AIM:NVR), a leader in commercialising 'clean' technologies,is pleased to announce that its subsidiary, Vertus Technology Limited ("Vertus")has signed a Memorandum of Understanding with CLP Power India Private Limited ("CLP India") to develop its Vertus RTP technology for applications in bothbiomass and lignite coal treatment. CLP India is one of the largest foreign investors in India's power sector and ispart of the CLP Group, which operates a vertically integrated electricity supplybusiness in Hong Kong and is a leading private sector power company in AsiaPacific, including Mainland China, Australia, Taiwan and Thailand. The CLP Groupis listed on the Hong Kong Stock Exchange and in 2006 has a marketcapitalisation of almost US$20 billion. Under the agreement the two companies will conduct trials to test and assess thefeasibility of developing a pilot production plant in India capable ofpre-treating a range of fuels for cleaner power generation. If phase one issuccessful, Vertus will develop a Vertus RTP plant for use by CLP India. Thiswould be the first established commercial demonstration site for Vertustechnology in India, providing CLP India with suitable performance data forpossible further development of the Vertus technology in their territory. Workon the agreed test programme will commence immediately, with a series of fuelsbeing analysed at the Vertus laboratory in Hungary. Chris Every, CEO of Nviro Cleantech and Chairman of Vertus, said; "We aredelighted to form a working partnership with such a well established andexperienced power generator as CLP India for our first foray into India, and welook forward to establishing a mutually profitable business developmentpipeline. Following our recently announced JV in China, Nviro now has a presencein two of the world's largest coal-fired power generating countries where itstechnologies can not only help reduce emissions from traditional fossil fuels,but also emerging biomass energy projects". Rajiv Mishra, MD of CLP India, said; "CLP continues to seek to apply viable newclean technologies to meet the demand for power generation. "We are confident that in Vertus RTP Technology we have identified an excitingopportunity to meet this objective in a market where demand for electricity isgrowing strongly." The Company will provide further updates as this initiative progresses andadditional information becomes available. Nviro Cleantech plc will be announcing its Final Results on 23 November 2007. - Ends - For further information:Nviro Cleantech plc Tel: +44 (0) 20 7451 2473 www.nvirocleantech.comChris Every, Chief Executive Officer [email protected] Grant Thornton Corporate Finance - Tel: +44 (0) 20 7383 5100Nominated Adviser www.grantthornton.co.ukFiona Owen [email protected] MacDonald [email protected] Fairfax I.S. PLC Tel: +44 (0) 20 7598 5369Broker www.fairfaxplc.comEwan Leggat [email protected] CLP Holdings LimitedCarl Kitchen Tel: +852 2678 8245 Media Enquiries: Abchurch www.abchurch-group.comJustin Heath Tel: +44 (0) 20 7398 7781 [email protected] Bonham Tel: +44 (0) 20 7398 7715 [email protected] Notes to Editors: About Nviro Cleantech plc & Vertus: Nviro Cleantech plc is a leader in commercialising "clean" technologies, such asrenewable energy, waste recycling, emissions control and air quality monitoring,that benefit the global environment. The Company operates by acquiring a strong,balanced portfolio of near-to-market technologies that address large demandneeds in a breadth of markets, and which are viable and cost effective. The Company operates through its wholly owned subsidiaries: Nviro CleantechLimited; Microrelease Limited; Laseair Limited; Stillclear EnvironmentalLimited; Nviro Cleantech Limited (Cayman Islands); Vertus Technologies Limited(Cayman Islands); Vertus Technologies US LLC. (Nevada); and Organotect, Inc. Inaddition, Nviro Cleantech Inc, a US subsidiary, provides certain managementservices to the Company. Together, the Company's subsidiaries are developing a portfolio currentlycomprising five clean technologies. These include: • Vertus RTP, the Company's lead technology - the reductive thermal process (RTP) is designed to substantially cleanse low quality coal and biomass to produce high-grade fuel with properties similar to anthracite while maximising effective and clean use of the off-gasses; • MicroRelease, its secondary technology - designed to recycle medium density fibre ("MDF") and particle board into a high quality reusable wood fibre; • Three follow-on technologies, Carbon Co-burner, Organotect ' lab-on-a-chip', and Laseair. Nviro Cleantech focuses on solutions that can be bought to market quickly, andwith maximised financial potential, using proven technologies and managementteams. It systematically targets environmental innovations that do not requireradical shifts in consumer behaviour nor large capital investments to adopt. About CLP India: CLP India is one of the largest foreign investors in the Indian power sector andis responsible for developing CLP's presence in that market. It is responsiblefor the GPEC gas-fired power plant in Gujarat. CLP acquired a majority stake inGPEC in 2002 and fully acquired GPEC in mid-2003. The GPEC power plant is one ofthe largest independent power projects (IPPs) to have been set up in India. CLPIndia is also developing a 100.8MW wind farm project in Gujarat and, through itsRoaring 40s joint venture, a further wind farm is being developed at Khandke inMaharashtra. CLP is listed on the Hong Kong Stock Exchange and is one of the largestinvestor-owned power businesses in Asia. Through CLP Power Hong Kong, itoperates a vertically integrated electricity supply business in Hong Kong, andprovides a highly reliable supply of electricity and excellent customer servicesto over 5.5 million people in its supply area. The CLP Group is the largest external investor in the Chinese mainlandelectricity industry, and a leading international private sector power companyin the Asia-Pacific region with an integrated energy business in Australia andinterests in OneEnergy, a 50-50 joint venture with Mitsubishi Corporation, whichowns generating assets in Southeast Asia. In line with the CLP Group's commitment to develop 5% of generating capacityfrom renewable energy sources by 2010, CLP is investing in renewable energyprojects outside Hong Kong, focusing on wind, small hydro and biomass, with anemphasis on India, China and Australia. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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