14th Mar 2008 07:01
Nviro Cleantech plc14 March 2008 14 March 2008 Nviro Cleantech plc ("Nviro" or "the Company") First Vertus Technologies contract for US operations; and shareholding changes Nviro Cleantech plc (AIM:NVR), a leader in commercialising clean technologies,is pleased to announce that its subsidiary Vertus Technologies Limited ("Vertus") has signed a contract with Cincinnati Bulk Terminals LLC ("CBT"), for itsfirst US production site to install and operate a 100,000 ton per annum RTP unitat a site in the USA, located on the Ohio River. CBT's roots go back more than100 years. It is a sophisticated coal handling and delivery company thatsupplies one million tons of coal annually to the local industrial boilersector. Vertus and CBT have reached agreement for the establishment of onsiteoperations, including raw coal procurement, coal handling and transportation ofclean coal fuels to clients in the region. Under the 25 year agreement with CBT,Vertus will construct and operate the first RTP facility designed to removepollutants from coal prior to its combustion in a boiler. The Ohio coal marketfor industrial and energy generation utilises in excess of 2 million tons perannum (source: EIA 2006), generating annual sales in excess of US$130m. Inaddition to producing a cleaner coal and reducing hazardous air pollution inOhio and nearby states, the Vertus RTP fuel treatment process utilises lessenergy and requires a smaller installed footprint than traditional postcombustion treatment technologies, thereby offering heat and power generatorsimproved financial performance and greater flexibility in their operations. The two companies anticipate the installation of additional Vertus RTP units inorder to service the rapidly growing market for compliance fuels in theterritory within a few years. Installation of the Vertus production facility iscommencing immediately with the initial unit, enabling the supply of over100,000 tons of high quality air emission compliant coal per annum to theCincinnati area industrial boiler market. (The 100,000 ton unit equates to two50,000 tones per annum standard RPT units.) RTP units produce high-BTU, low-sulphur, low-mercury fuel that complies with airquality regulations in the US, allowing heat and power generators to meetincreasingly stringent air quality regulations in the region economically. Thenew Vertus Ohio River-side site will facilitate compliance with current andanticipated emissions regulations for all large and small industrial coal usersin the region. Under current US environmental policy these customers do notbenefit from the same emission trading programmes that are stipulated by the USClean Air Act for major power generating companies. Permits for the RTPfacility are presently in the application and review phase. Jack Weiss, President of CBT, commented: "We are constantly looking for theopportunity to provide industrial boiler operators with reliable fuel productsand services that they will need for their business today as well as tomorrow,thereby securing our own future. We see Vertus as a like-minded organisationwith which we can cooperate to deliver fuels and services to our clients thatwill meet ever increasing air quality standards in a cost-effective way, therebyhelping a wide range of Ohio businesses to remain competitive and profitable inthe future." Dr Kenneth Hughes, President of Vertus Technologies, says: "This relationshipcreates a significant opportunity for both companies in the production anddistribution of low-emission, high-quality, compliant coal. Clean solid fuel isexpected to be available from this site by the end of 2008. We also believethat the establishment of this first US Vertus RTP facility will accelerate theadoption of both coal and biomass RTP units in Asian markets which willultimately provide the company with a geographically diverse network of clients." Chris Every, Chief Executive of Nviro Cleantech, the parent company of Vertus,added: "We are delighted to have achieved one of our significant milestones for2008 so early in the year through the establishment of our relationship with CBTfor our first US plant. It is our belief that strong sustainable businesses arecreated through a combination of new and unique technologies and strong businessrelationships. In CBT we have found both a partner expert in the coal tradingand handling field and a team of professionals in which we can have a long andmutually beneficial working relationship. We are very excited about the futureof coal in this region." Nviro Cleantech technology update Vertus - In addition to the Cincinnati installation, the Directors are greatlyencouraged by progress with detailed negotiations at other generating facilitiesin North America, and the positive responses of more than 40 power generatingcompanies who requested individual meetings with Vertus at the recent PowerGeneration Summit held in Atlanta, USA in February 2008. In the USA, Vertusrecently added to its team an experienced energy sector Business DevelopmentExecutive and a Site Manager to support business development efforts. Also inOhio, Vertus is installing state-of-the-art fuel testing equipment which will beused to optimise and extend the RTP Process technology to further increaseperformance and reduce costs of the fuels it is creating. In China and India we are also encouraged by our contract negotiations in thepower sector as planning continues on the initial installations for bothbiomass- and coal-fuelled sites. Carbon Burner - The carbon ignition system being developed to burn pure carbonderived from biomass is the subject of outsource research contracts and ispresently undergoing some changes in technology focus, aligning it more closelywith the market demand seen in Asia in particular. (A dispute exists with aformer supplier in this project and a provision for any contingent liability hasbeen made in the 2007 Company's accounts accordingly.) Microrelease - Following the successful verification of the core technology byoutside contractors C-Tech the company is now completing the preliminary designspecifications for the first commercial plant. Laseair - Prototypes are under construction ahead of being placed on test infield trials. Organotect - Prototypes are being tested and operating software is beingtailored to meet design performance specifications. Shareholding Changes Notified The company has been notified that directly and through nominees, HendersonGlobal's holding of Nviro Cleantech plc ordinary shares is 9.95%, and Foreignand Colonial's holdings are 10.90%. - 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 5100 Nominated Adviser www.grantthornton.co.ukFiona Owen Fairfax I.S. PLC Tel: +44 (0) 20 7598 5368 Broker www.fairfaxplc.comEwan Leggat [email protected] Media enquiries: Abchurch Communications Limited www.abchurch-group.comJustin Heath / Franziska Boehnke / Tel: +44 (0) 20 7398 7712 Monique Tsang [email protected] Notes to Editors: 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 is developing a portfolio currently comprising five cleantechnologies. These include: o 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-gases; o MicroRelease, its secondary technology - designed to recycle medium density fibre ("MDF") and particle board into a high-quality reusable woodfibre; o Additional technologies in air quality evaluation, air purification and carbon ignition. Nviro Cleantech focuses on solutions that can be brought 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 Cincinnati Bulk Terminals LLC Cincinnati Bulk Terminals, LLC, (CBT), a privately owned company, is a fullservice tri-modal river terminal dedicated to meeting customer's materialhandling needs with integrity and quality. Their experience and location enablesCBT to solve their customer's problems and save them money. CBT can provide a"just in time" service throughout the Mid-West through its barge, truck and railaccess. Its excellent location provides easy access to three interstates, as well as theCSX, and Indiana and Ohio Rail Road. These connections allow efficienttransportation for a variety of bulk and 'break bulk' products. CBT maintains three barge unloading docks and one barge loading dock on site.Total ground storage capacity is in excess of 200,000 tons, in addition to dryfuel storage. The terminal has the capacity to handle more than 3 million tonsannually. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
HAYT.L