HydroDec Group plc 2016 Annual Report and Accounts and Notice of AGM (9860G)

TIDMHYR

RNS Number : 9860G

HydroDec Group plc

02 June 2017

2 June 2017

Hydrodec Group plc

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

Report and accounts

Notice of AGM

Hydrodec Group plc (AIM: HYR), the cleantech industrial oil re-refining group, has today issued and posted to those shareholders who have requested (or been deemed to have requested) hard copy documents its Annual Report and Accounts for the year ended 31 December 2016, including a notice convening the Annual General Meeting ("AGM"). This document will shortly be available for viewing on the Company's website (www.hydrodec.com).

The AGM is to be held at the offices of Canaccord Genuity at 88 Wood Street, London EC2V 7QR at 9.30am on Tuesday 27 June 2017.

Registered shareholders and/or duly authorised corporate representatives or proxies intending to attend the AGM are advised to bring evidence of their shareholding or authorisation with them.

For further information, please contact:

 
 Hydrodec Group plc                  01372 824750 
 Chris Ellis, Chief Executive 
 Canaccord Genuity (Nominated 
  Adviser and Broker)                020 7523 8000 
 Henry Fitzgerald-O'Connor 
  Richard Andrews 
 Vigo Communications (PR adviser 
  to Hydrodec)                       020 7830 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.

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 Company's proprietary technology and standing as a leader in its field.

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

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June 02, 2017 04:32 ET (08:32 GMT)