In the News

Interim results

June 09, 2008. London, UK

Nviro Cleantech plc (AIM:NVR), a leader in commercialising clean technologies, is pleased to announce its Interim Results for the six months ended 31 March 2008.

Highlights

• Loss before tax of £1.36 million (2007: £1.52 million)
• Cash and investment position of £4 million, reflecting prudent use of funds
• First commercial revenues expected towards the end of 2008
• Significant milestones met in the USA, India and China with Vertus RTP technology:

- Agreement for first US coal treatment site signed with Cincinnati Bulk Terminals
(March 08) and now under construction (May 08)
- Agreement signed by Chinese JV with Shenyang Coal Trade Group (May 08)
- Development programme initiated for a lignite / biomass plant in India (October 07)

• Completing preliminary design specifications for first commercial Microrelease plant
for medium-density fibreboard (MDF) recycling
• Laseair and Organotect programmes on schedule with prototypes undergoing testing

Chris Every, CEO of Nviro Cleantech Plc, said: ”Our management team has been focused on achieving significant results during the period, with the first Vertus RTP treatment site now under construction in the USA. Sales momentum for Vertus is also accelerating across Asia, with an agreement from a major Chinese coal producer, via our joint venture, for fuel evaluation and testing prior to construction and operation of an initial two Vertus units, and also the start of a development programme in India. Furthermore, we are pleased to emerge from this successful first half with our broader portfolio of technologies on track and underpinned by a net cash position of £4 million – signalling conservative and cost-effective deployment of the funds raised in the IPO last year.”

A full set of these Interim results can be downloaded in a PDF format

For further information:

Nviro Cleantech plc
Chris Every, Chief Executive Officer
Tel: +44 (0) 20 7451 2473
cevery@nvirocleantech.com

Grant Thornton Corporate Finance - Nominated Adviser
Fiona Owen
Tel: +44 (0) 20 7383 5100

Fairfax I.S. PLC - Broker
Ewan Leggat - eleggat@fairfaxis.com
Tel: +44 (0) 20 7598 5368

Media enquiries:

Abchurch Communications Limited
Justin Heath/Monique Tsang - monique.tsang@abchurch-group.com
Tel: +44 (0) 20 7398 7712

 

 

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