29 June 2016

Sheeran shines on Romanian trials

James Crux

Brian Sheeran, chairman of green technology company Virotec, delivered some good news to investors today with exciting news of trials in Romania of its Bauxsol waste water cleaning technology.

Sheeran and Dr David McConchie, a fellow director and the group's chief scientific consultant, had just visited Baia Mare in Romania, joining other Virotec staff who were treating 3 million litres of Acid Mine Drainage (AMD) with the group's Bauxsol technology. 'We've had large enquiry levels from Europe', said Sheeran, 'and were invited to Baia Mare by Romanian mining company Remin to do trials'.

Formerly a mining venture Down Under, Virotec (VTI) has worldwide marketing and distribution rights to 'Bauxsol', a 'green' technology that neutralises acid and removes heavy metals from environmentally contaminated water. Although the actual results have not been released yet, McConchie hinted at positive news. 'The initial trials gave fantastic results', he added. 'Our aim at Virotec is not only to protect the environment but to do it in an economically appealing way that will save mining companies money'.

All of this should have impressed observers from the United Nations Environment Programme, the European Union in Brussels and the London Stock Exchange who attended the Romanian trials. Significantly, the pair also boasted that the United States EPA is also currently trialling the technology. 'Trials in the US should be completed by December and we're hopeful of gaining EPA approval for the product for America', said Sheeran.

Virotec, already quoted on the Australian Stock Exchange, listed on Aim in July following a placing of 27.5 million new shares at 14p raising £3.36 million net. 'We came to Aim to internationalise the technology and be first to market', explained Sheeran. W H Ireland was broker to the float.

Today the shares were unchanged at 12.25p.

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