HydroDec Group plc Restructuring Participation in Japan (7097B)
April 05 2013 - 9:05AM
UK Regulatory
TIDMHYR
RNS Number : 7097B
HydroDec Group plc
05 April 2013
5 April 2013
Hydrodec Group plc
("Hydrodec" or the "Group")
Restructuring Participation in Japan
Hydrodec Group plc, the cleantech industrial oil re-refining
group (AIM: HYR), announces that it will restructure its
participation in Japan following a strategic review of its activity
and the expiry of its strategic alliance agreement with Kobelco Eco
Solutions.
Hydrodec will resume exclusive control and ownership of the
Hydrodec technology, the Japanese patent and wider IP rights,
including development rights across Japan and the wider East Asian
market.
Hydrodec will continue to develop the strong relationship it has
established with the management team at Kobelco Eco Solutions
through a more flexible engagement model including licensing of the
Hydrodec technology consistent with the Group's strategy as
previously announced. This new approach will reduce cost and allow
Hydrodec more control over the process and pace of market entry
into key territories. It will also widen the choice of potential
partners.
Ian Smale, Chief Executive Officer of Hydrodec, commented: "The
scale of opportunity for our clean technology in the regulated
Japanese market for treatment of polychlorinated biphenyl ("PCB")
contaminated oil and equipment remains material, and we continue to
target Japan as a significant source of potential value and returns
for our shareholders. We are confident that Kobelco Eco Solutions
remains an important contributor to this market and will have a
significant role to play in this new strategic effort."
Hydrodec's cleantech catalytic hydrogenation process is the only
non-destructive technology approved by the Japanese Environment
Ministry for the re-refining and treatment of PCB contaminated
transformer oil. The potential market for treatment of contaminated
and used transformer oil in Japan is assessed as 600 million litres
in place, and up to one billion litres over time including
recycling of transformer oil for equipment decontamination through
oil washing.
For further information please contact:
Hydrodec Group plc 020 7907 9220
Ian Smale, Chief Executive Officer
Chris Ellis, Chief Financial Officer
Mike Preen, Head of Corporate and Legal
Affairs
Numis Securities Limited (Nominated
adviser/joint broker) 020 7260 1000
Nominated Adviser: Hugh Jonathan
Corporate Broker: David Poutney
Cenkos Securities plc (Joint broker) 020 7397 8900
Corporate Finance: Adrian Hargrave
Sales: Christian Hobart
Luther Pendragon (PR adviser to the
Company) 020 7618 9100
Neil Thapar, Alexis Gore, Sarah Davis
Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil
re-refining and chemical process initially targeted at the
multi-billion US$ market for transformer oil used by the world's
electricity industry. Spent oil is currently processed at two
commercial plants with distinct competitive advantage delivered
through very high recoveries (near 100%), producing 'as new' high
quality oils at competitive cost and without environmentally
harmful emissions. The process also completely eliminates PCBs, a
toxic additive banned under international regulations. Expansion of
the capacity and footprint of the business in the United States has
been announced subject to the completion of a partnership agreement
with an industry participant.
Hydrodec's plants are located at Canton, Ohio, US and Young, New
South Wales, Australia and its shares are listed on the AIM Market
of the London Stock Exchange. For further information, please visit
www.hydrodec.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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