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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
XL Tech. | LSE:XLT | London | Ordinary Share | COM STK USD 0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9561H XL TechGroup, Inc. 19 November 2007 Press Release 19 November 2007 XL TechGroup, Inc. ("XL TechGroup" or "the Company") XL TechGroup company TyraTech launches Sustainable Solutions business XL TechGroup (AIM: XLT), the creator of world-changing companies that solve identified, global unmet market needs, advises that XL TechGroup company, TyraTech Inc. (AIM: TYR) ("TyraTech"), the pioneer of safer, effective and natural pesticide products, today announces the US launch of its "Sustainable Solutions" business with Nature's Natural, a peat replacement and horticulture product that will also provide a mass-market medium for the delivery of TyraTech's natural pesticides. Nature's Natural is created using a proprietary technology that can separate, compost and purify livestock waste on site. The production machinery is being sold by TyraTech directly to large-scale US dairy farmers and is designed to provide safe and sustainable treatment of organic waste and solids whilst generating an agricultural, farm and home garden peat replacement product. The potential value of the US market for the sale of the machinery alone is approximately US$400 million, based on the number and scale of dairy farms across the country. First sales have now been made, providing an early source of revenue for TyraTech. By means of contractual agreements with each producer, TyraTech also retains the rights for up to two thirds of the material generated on farms using this technology for use in its Nature's Natural product lines. Sustainable Solutions provides waste and associated pollution management for dairy farms, as well as an end product that is available as a low-cost, high quality hygienic bedding for cattle. TyraTech is also developing a process that will apply its safer and effective products for repelling insects and parasites to the bedding to improve cattle wellbeing and productivity. Nature's Natural's low salt, pathogen and seed content, along with its high water retention and nutrient content, also mean it is valuable to horticultural markets, such as nurseries in need of a sustainable peat moss substitute for various potting and gardening uses. The annual US market for peat moss is in excess of US$245 million. The nutrient-rich soil alternative can then be used as a medium for TyraTech's natural pesticides that kill or repel insects and nematodes that impair plant growth. Take-up of the machinery by agricultural and horticultural markets will be driven by the cost savings and additional revenue streams that producers and users will be able to generate through its application. By reducing the amount of cattle manure that is spread on the land or retained in collection lagoons, it can provide significant economic and environmental compliance advantages for the farmer, especially by curtailing the pollution of the water table and the bad odours that effect neighbours in the farming community. The Nature's Natural approach lowers the farm's on-site waste content, allowing for larger and more sustainable herds to be managed within strict US government regulations. There are further environmental advantages such as the lowering of greenhouse gas emissions via the processing of cow manure before the composting process releases these gases. As an alternative to peat, it also reduces the commercial extraction pressures currently placed on the world's endangered natural peat bogs. Dr John Scott, CEO of XL TechGroup, said: "The sales of the machinery that produce Nature's Natural will generate an early source of revenue for TyraTech whilst building the foundations for the company to establish a presence in the US diary farming industry. The sustainable soil alternative is an ideal means of delivery for TyraTech's safer, natural, effective pesticides to the multibillion dollar horticultural and agricultural markets. We look forward to further news from TyraTech over the coming months as it continues to deliver on its exciting business plan." - Ends - For further information: XL TechGroup Inc. John Scott / Harold Gubnitsky Tel: +1 321 409 7403 hgubnitsky@xltg.com Chris Munden, Director of Investor Relations Tel: +44 (0) 20 7398 7720 cmunden@xltg.com www.xltechgroup.com Nomura Code Securities Richard Potts, Corporate Finance Tel: +44 (0) 20 7776 1200 www.nomuracode.com XL TechGroup media enquiries: Abchurch Communications Heather Salmond / Gareth Mead Tel: +44 (0) 20 7398 7700 heather.salmond@abchurch-group.com www.abchurch-group.com NOTES TO EDITORS About XL TechGroup XL TechGroup is in the business of significant value creation. Working with major international corporate and technology partners such as AES, Procter & Gamble and leading universities, XL TechGroup first identifies global unmet market needs and then targets and exploits these by the systematic creation of successful, disruptive technology businesses. These new companies are built from scratch, and are then managed, developed and funded by XL TechGroup through to the point of a trade sale or a stock market listing. XL TechGroup's unique and proven methodology selects the best opportunities in order to create one-to-two new companies annually, where each company is expected to achieve a realisable valuation of at least US$400 million within four years from its creation. While an XL TechGroup company might perform a stock market listing at an earlier point in this four year timeframe, XL TechGroup would retain a controlling interest and would continue to assist with the company's development. It is XL TechGroup's aim to deliver significant shareholder distributions at the final exit from each company. XL TechGroup's companies to date are: * PetroAlgae LLC (www.petroalgae.com) * TyraTech Inc. (AIM: TYR, www.tyratech.com) * DxTech LLC (www.dxtech.com) * QuoNova LLC (www.quonova.com) * AgCert International plc (LSE: AGC, www.agcert.com) XL TechGroup has also established GenXL LLC as a joint venture to capture the value of those prospects that do not fully meet XL TechGroup's US$400 million, four year criteria but still demonstrate considerable potential worth. Over and above XL TechGroup's core business model, GenXL is reviewing a significant flow of opportunities from both XL TechGroup and GEN3 in order to generate new companies, standalone product lines and technology licensing opportunities or an appropriate mix of these. For further information, see www.xltechgroup.com. About TyraTech, Inc. TyraTech is pioneering a new class of highly effective, non-toxic, pesticides and anti-parasitic compounds to address global agriculture, horticulture, functional foods, healthcare and veterinary markets. Using a revolutionary chemoreceptor screening process, TyraTech has identified proprietary blends of natural oils that stimulate the reactions and biological behaviour of insects and parasites so that they can be effectively repelled or killed. TyraTech's technology prevents the development of resistance and avoids the environmental concerns and human health risks of chemical solutions whilst still being at least, if not more, effective. The Company's products have been validated through strong partnerships with multinational conglomerates operating within a growing US$23 billion worldwide market that is being increasingly driven by environmental legislation and end-user demand. TyraTech continues to develop new product applications based on safe, natural ingredients with a broad range of partners around the world. For further information, see www.tyratech.com. This information is provided by RNS The company news service from the London Stock Exchange END MSCDGMMMVNDGNZM
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