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RNS Number : 8644O

Environmental Recycling Tech. PLC

12 February 2016

Environmental Recycling Technologies plc

New North American licence agreement

Environmental Recycling Technologies plc (AIM: ENRT, "ERT", "the Company"), the patent rights holder to the Powder Impression Moulding ("PIM") process, which is capable of converting mixed waste plastics into commercially viable products, is pleased to announce that it has granted an exclusive licence to James Plastics LLC (James Plastics), an affiliated company of the James Marine Group ("James Marine").

The licence to James Plastics allows for the manufacture and sale of rigid industrial matting and load bearing substrates for the industrial sector; and for products for the railroad industry; within the territory of the USA. Under the terms of the licence, James Plastics will pay to ERT an annual royalty, paid half yearly, based on product sold.

James Plastics has already invested in product R&D and has an order book for production, which is expected to commence imminently, with the first royalties paid to ERT in this half of the current calendar year.

James Plastics is an affiliated company of the James Marine Group, the parent company of Brownwater Plastics, an existing licensee of ERT which produces barge covers for the marine industry using the PIM process.

Commenting on the announcements, Michael Rowan, Chairman of ERT, said: "This is a welcome step in the development of our relationship with James Plastics' parent company, James Marine, which has been a PIM licensee since August 2012. It has been actively developing new applications for our proven PIM technology, which can convert mixed waste plastics into commercial product and we are delighted that new PIM products will very soon be coming to market."

For further information:

 
 Environmental Recycling 
  Technologies plc          01993 779 468 
 Michael Rowan, Chairman 
 W H Ireland                01179 453 470 
 John Wakefield 
 
 Kreab                      02070 741 800 
 Robert Speed

Notes:

Environmental Recycling Technologies plc (ERT) is a leading developer of innovative technologies specifically focusing on plastic waste recycling. The company holds the worldwide intellectual property rights to the Powder Impression Moulding (PIM) Process.

The ERT PIM process allows businesses to improve their environmental footprint by adding new value to mixed plastic waste streams by conversion into products, which in turn can be recycled at the end of their life.

For more information about Environmental Recycling Technologies plc please visit www.ertplc.com

This information is provided by RNS

The company news service from the London Stock Exchange

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February 12, 2016 02:00 ET (07:00 GMT)

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