7th Nov 2005 07:01
TEG Environmental Plc07 November 2005 For Release 7:00am 7 November 2005 TEG ENVIRONMENTAL PLC PLANNING APPROVAL FOR PLANT IN IRELAND "Opportunity to commercialise existing asset" TEG Environmental Plc ("TEG" or "the Company"), the leading green technologycompany, which converts organic wastes into natural organic fertilizer, ispleased to announce that planning approval has been granted by Kildare CountyCouncil for the Company to operate its Silliot Hill plant, County of Kildare,Ireland, for a further 10 years. The Kildare plant is owned by TEG and was built in 2002. It was originally usedto process sewage sludge. TEG now plans to process food waste and green wastematerials using the 24 Silo-Cage unit, treating up to 15,000 tonnes of waste peryear. Said Mick Fishwick, Chief Executive, TEG Environmental:"The renewal of planning permission for our Kildare plant is another positivedevelopment for the Company. While we respect the decision-making process inIreland, we are now very confident that Kildare will once again function as awaste processing plant, bringing in additional revenues for TEG." "This planning approval represents a significant step forward, allowing theCompany to commercialise this existing asset. Ireland represents an attractivemarket for the Company, as gate fees are high and there is a strong demand forcomposting. TEG is considering its options over the future of the plant and hasbeen in discussion with a number of parties These discussions can now be broughtto a conclusion." He added: "Mindful of due process and under Irish planning law, the Companynotes that any opponents of a planning decision have the right of appeal. If anappeal is forthcoming, it may not be determined until April 2006, although itcould be earlier. Nevertheless, TEG believes the planning approval is a majorstep forward and the Company is confident of a successful outcome." "Alongside several items of important legislation being implemented this year inthe general recycling and organic waste sectors, TEG is particularly pleased tosee momentum growing vis-a-vis this planning approval and the announcement ofthe Company's contract wins since last March". ENDS +------------------------------------+------------------------------------+|Contact: | |+------------------------------------+------------------------------------+|TEG Environmental Group Plc |01772 314100 |+------------------------------------+------------------------------------+|Michael Fishwick, Chief Executive | |+------------------------------------+------------------------------------+| | |+------------------------------------+------------------------------------+|Binns & Co PR Ltd |020 7786 9600 |+------------------------------------+------------------------------------+|Peter Binns / Tarquin Edwards |07768 392 582 / 07879 458 364 |+------------------------------------+------------------------------------+| | |+------------------------------------+------------------------------------+ Editor's Notes: TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product waste. Planteconomics are driven by the gate fees charged, rather than the value of the endproduct (compost). The TEG process is an economic alternative to landfill. The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, is a natural process producing compost as an end product, used as anexcellent soil conditioner that fertilizes, retains moisture, provides structureand restricts weed growth. TEG's Silo-Cages will be housed in a self-containedbuilding, are not unsightly and are environmentally friendly. Potential customers include local authorities, waste management companies, foodprocessors, farmers and landowners. The Company's expanding market is driven byincreasingly stringent EU and UK legislation regulating the treatment anddisposal of organic waste. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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