HydroDec Group plc Canton update, Timing of 2015 Final Results (6212R)

TIDMHYR

RNS Number : 6212R

HydroDec Group plc

10 March 2016

Hydrodec Group plc

("Hydrodec" or the "Company")

Canton update

Timing of 2015 Final Results

Hydrodec Group plc (AIM: HYR), the clean-tech industrial oils re-refining group, is pleased to announce that its plant at Canton, Ohio achieved an all-time (including before the incident in December 2013) monthly production record of 2.45 million litres in February. The Canton plant further achieved a record daily shipment of 378,000 litres of SUPERFINE to customers on 29 February.

Chris Ellis, Chief Executive, commented: "I am currently in Canton and congratulate the team here on these levels of production. I would expect we can improve on this further. Operational performance is a key platform for our strategy of growth in the US and these records confirm the improvement in operability and rateability of the plant as we continue to rebuild market share in the US."

2015 Final Results

Further to the disposal of Hydrodec's UK operations, the Company expects to release its audited Final Results for the year ended 31 December 2015 on 12 April 2016.

For further information please contact:

 
                                    020 3300 
 Hydrodec Group plc                  1643 
 Chris Ellis, Chief Executive 
  Officer 
  James Hodges, General 
  Counsel and Company Secretary 
 
 Canaccord Genuity (Nominated 
  Adviser and Broker) 
 
  Guy Marks                          020 7523 
  Henry Fitzgerald-O'Connor          8000 
 
 Vigo Communications (PR            020 7830 
  adviser to Hydrodec)               9700 
 Patrick d'Ancona 
  Chris McMahon

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. MarketsandMarkets forecasts that the global transformer oil market is expected to grow from US$1.98 billion in 2015 to US$2.79 billion by 2020 at a CAGR of 7.14% from 2015 to 2020. 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. Hydrodec's plants are located at Canton, Ohio, US and Bomen, New South Wales, Australia.

Hydrodec's 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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