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HYR - Hydrodec News Story

3.9p 0.2  4.0%

Last Trade - 12:00pm

Market Cap £1.06m
Enterprise Value £11.5m
Revenue £11.9m
Position in Universe 1787th / 1816

HydroDec Group plc - Change of Registered Office

Mon 30th September, 2019 11:09am
RNS Number : 1491O
HydroDec Group plc
30 September 2019
 

30 September 2019

 

Hydrodec Group plc

("Hydrodec", the "Company" or the "Group")

 

Change of registered address

 

The Company announces that its registered address has been changed to International House, 24 Holborn Viaduct, London EC1A 2BN with immediate effect.

 

For further information, please contact:

 

Hydrodec Group plc

hydrodec@vigocomms.com

Colin Moynihan, Executive Chairman

 

 

 

Arden Partners plc (Nominated Adviser and Broker)

0207 614 5900

Ciaran Walsh

 

 

 

Vigo Communications (PR adviser to Hydrodec)

020 7390 0240

Patrick d'Ancona

 

Chris McMahon

 

Charlie Neish

 

 

 

Notes to Editors:

 

Hydrodec's technology is a proven, highly efficient, oil re-refining and chemical process principally 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. Used transformer oil is processed 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.

 

In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and creating an incremental revenue stream. The Group is now generating carbon offsets through the re-refining of used transformer oil, which would otherwise ordinarily be incinerated or disposed of in an unsustainable manner. This is a highly distinctive feature for the Group, confirming (as far as the Board is aware) Hydrodec as the only oil re-refining business in the world to receive carbon credits for its output. This is a significant endorsement of the Group's proprietary technology and standing as a leader in its field.

 

Hydrodec's operating plant is located at Canton, Ohio, US.

 

Hydrodec's shares are listed on the AIM Market of the London Stock Exchange. For further information, please visit www.hydrodec.com.

 


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