Hydrodec : 2016 Annual Report and Accounts and Notice of AGM

Released : 02 Jun 2017 09:32

RNS Number : 9860G HydroDec Group plc 02 June 2017

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

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 no ce convening the Annual General Mee ng ("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 representa ves or proxies intending to a end the AGM are advised to bring evidence of their shareholding or authorisa on with them.

Hydrodec's technology is a proven, highly efficient, oil re‐refining and chemical process ini ally targeted at the mul ‐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 dis nct compe ve advantage delivered through very high recoveries (near 100%), producing 'as new' high quality oils at compe ve cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic addi ve banned under interna onal regula ons.

In 2016 Hydrodec received carbon credit approval from the American Carbon Registry ("ACR"), enabling its product to be sold with a carbon offset and crea ng an incremental revenue stream. The Group is now genera ng 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 dis nc ve 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 informa on, please visit www.hydrodec.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

NOAZMGGVRZRGNZG