25 May 2012

TEG and Alikane in Welsh waste deal

31/08/2011 Robert Tyerman

Greentech player TEG Group (TEG) and cleantech concern Alkane Energy (ALK) have won a long-term food waste contract with three Welsh councils.

The two AIM companies have set up a joint venture NEAT Biogas, which will set up and operate a new 20,000 tonnes-a-year anaerobic digestion plant to process food waste supplied by Denbighshire, Conwy and Flintshire under a contract worth an estimated £2 million a year, which will last for an initial 15 years, with an option to extend for another five years.

TEG will have 70 per cent and Alkane 30 per cent of NEAT, which hopes this contract with the three Welsh councils' consortium, the 'North East Wales Hub', will be the precursor of others around the United Kingdom. If so, it should do no harm to Alkane's shares at 19.8p or TEG's at a depressed 10.25p.

Tags: AIM market, Anaerobic digestion, Food waste, NEAT Biogas, Welsh contract

Sector: Alternative Energy

Companies: TEG

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