15 September 2014

Sheeran shines on Romanian trials

25/09/2001 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.

Growth Company Investor: free trial

Since 2008, our share tips outperformed the benchmark by 281%. Take a free trial and get access to our recommendations today. Start free trial now.

Directors' Pay on AIM 2014

The most comprehensive review of AIM directors' pay available, and this year includes a record sample of 1,044 AIM-quoted companies. The full report is available to order for £365 + VAT. Click here for more info

Latest small-cap and growth company news

Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.

Popular News

Latest News

Nairobi is one of the world's most densely populated cities

Avanti wins Kenyan deal 12/09/2014

Broadband-by-satellite operator Avanti Communications (AIM:AVN) has won a deal to provide its services in Kenya.

Tags: Business in Africa, Contract wins

Mariana pushing hard at Condor de Oro 12/09/2014

Latin American gold play Mariana Resources (AIM:MARL) has reported results from its drilling programme in Peru. 

Tags: Gold, Mining

Karelian finishes sampling programme 04/09/2014

Finnish miner Karelian Diamonds (AIM:KDR) has completed the sampling programme of three target regions.

Tags: Diamonds, Mining

Urban & Civic wins Cambridge plan 04/09/2014

Property developer Urban & Civic (LSE:UANC) has won a deal with the MoD to redevelop former RAF barracks.

Tags: Property

Amur updates reserves 29/08/2014

Russian copper play Amur Minerals (AIM:AMC) has upgraded the mining reserves of its Kun-Manie site by 25 per cent. 

Tags: Mining

 Beowulf still roaring 29/08/2014

Swedish iron ore play Beowulf Mining (AIM:BEM) has reported its interim results.

Tags: Mining

More News