17 April 2014

Virotec teams up with TerraPlus

13/11/2001

Aim-listed green technology firm Virotec has signed an important Memorandum of Understanding with Iberian-based engineering consultant TerraPlus, writes James Crux.

Formerly listed as 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.

Recent estimates suggest that the market for the technology could be worth 100 billion. In today's announcement, the Virotec board said that engineering consultant TerraPlus had 'already identified potential opportunities in the Portuguese and Spanish mining industries' to use Virotec's Bauxsol technology. TerraPlus full name TerraPlus Engenharia Do Ambiente E Fiscalizacao LDA has a strong presence in the civil engineering, mineral extraction, water management and sanitation services fields. Under the terms of the MOU, TerraPlus will be Virotec's exclusive licensed agent in Portugal and a non-exclusive licensed agent in Spain, with Virotec supplying the actual Bauxsol technology as well as technical support, on a project-by-project basis.

Today's news appears to be a significant strategic development for the company. At a recent meeting with journalists, executive chairman Brian Sheeran said that 'our aim is not only to protect the environment, but to do it in an economically appealing way that will save mining companies money. We came to Aim to internationalise the technology and be first to market'. In line with this strategy, Virotec recently opened up an Italian subsidiary, Virotec Italia, operating from Rome. The Italian office is working to secure permits and licences for the transportation and application of its Bauxsol technology across the European Union, while other offices will be opened across Europe.

The chemicals-listed company floated on Aim in July following a placing of 27.5 million new shares at 14p, which raised 3.36 million net. The shares were unchanged at 15.75p on today's news, valuing the business at 21.65 million.

The Share Centre:

Cheaper fund investing has arrived at The Share Centre.
We don't believe it's fair to charge you extra just for holding funds.
So we don't. Find out more.
Capital at risk.

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

Cash Shells 2013

This annual guide provides a comprehensive overview of cash shells on the Main Market, AIM and PLUS landscape. The guide is available to order in PDF format for £350 (+VAT). 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

RPC is an environmental consultancy

RPS gets clear 10/04/2014

Environmental specialist RPS Group (LSE:RPC) has purchased Clear Environmental Consultants in a deal worth £8.3 million.

Tags: Clean energy

Motive moving on tablet 10/04/2014

Television technology specialist Motive Television (AIM:MTV) has signed a deal to  stream Freeview on tablet computers.

Tags: Technology

Quindell wins Zurich Canada contract 08/04/2014

Insurance services outsourcing specialist Quindell (AIM:QPP) has won a contract with Zurich Canada.

Tags: Canada, Contract wins

Falkland pushing ahead 08/04/2014

Business group Falkland Islands Holdings (AIM:FIH) reported on a strong second half.

Tags: Falklands, Support services

ITM wins £2.8m refuelling deal 03/04/2014

Clean fuel specialist ITM Power (AIM:ITM) has won a deal to supply three refuelling stations in London.

Tags: Clean energy, Contract wins

NetDimensions grabs Uster deal 03/04/2014

Software seller NetDimensions (AIM:NETD) has won a contract with Switzerland-based textile specialist Uster Technologies.

More News