HydroDec Group plc Directorate Change (8818Z)
September 23 2015 - 2:01AM
UK Regulatory
TIDMHYR
RNS Number : 8818Z
HydroDec Group plc
23 September 2015
23 September 2015
Hydrodec Group plc
("Hydrodec" or the "Company")
Appointment of Caroline Brown to the Board as Non-Executive
Director
Hydrodec Group plc (AIM: HYR), the cleantech industrial oil
re-refining group, is pleased to announce that Caroline Brown has
been appointed to the Board as a Non-Executive Director and as
Chair of the Audit Committee of the Board with effect from
today.
Dr. Brown is currently the Chief Operating Officer and Chief
Financial Officer of The Penspen Group Limited, the global
engineering and consulting group. She is also an experienced
Non-Executive Director, currently chairing the Audit Committees of
Intelligent Energy Holdings plc and Mirland Development Corporation
plc and has previously chaired the Audit Committees of WSP Group
plc and Bridge Energy ASA. She has managed early stage companies
and divisions of FTSE 100 companies in the energy and technology
sectors and has worked as a corporate finance advisor to
governments and energy companies with banks including Merrill
Lynch, UBS and HSBC. Dr. Brown holds a First Class degree and PhD
in Chemistry from the University of Cambridge, an MBA in Finance
from the Cass Business School, is a fellow of the Chartered
Institute of Management Accountants and is a Chartered
Director.
Lord Moynihan, Chairman of Hydrodec, commented: "I am delighted
to welcome Caroline to the Board and as Chair of the Audit
Committee. She brings a wealth of financial and governance
experience to the Board and will greatly strengthen its ability to
support the development of the Hydrodec business."
For further information please contact:
020 3300
Hydrodec Group plc 1643
Ian Smale, Chief Executive
Chris Ellis, Chief Financial
Officer
James Hodges, General
Counsel and Company Secretary
Peel Hunt LLP (Nominated 020 7418
Adviser and Broker) 8900
Justin Jones
Mike Bell
Vigo Communications (PR 020 7016
adviser to Hydrodec) 9570
Patrick d'Ancona
Chris McMahon
The following information on Caroline Brown is provided pursuant
to AIM Rule 17:
Full name and age: Caroline Anne Brown (53)
Current directorships:
Intelligent Energy Holdings plc
Mirland Development Corporation plc
The Penspen Group Limited
Penspen Limited
The Gray's Inn Mansion Limited
Previous directorships (past 5 years):
KBC Advanced Technologies plc
KBC Advanced Technologies Sdn Bhd
KBC Advanced Technologies SL
KBC Process Technology Limited
Bridge Energy ASA
Interest in shares: None
There is no further information on Caroline Brown required to be
disclosed under Schedule Two, paragraph (g)(iii)-(viii) of the AIM
Rules for Companies.
Notes to Editors:
Hydrodec's technology is a proven, highly efficient, oil
re-refining and chemical process initially targeted at the
multi-billion US$ market for transformer oil used by the world's
electricity industry. Spent oil is currently processed at two
commercial plants with distinct competitive advantage delivered
through very high recoveries (near 100%), producing 'as new' high
quality oils at competitive cost and without environmentally
harmful emissions. The process also completely eliminates PCBs, a
toxic additive banned under international regulations. Hydrodec's
plants are located at Canton, Ohio, US and Young, New South Wales,
Australia. In 2013, Hydrodec acquired the business and assets of
OSS Group, the UK's largest collector, consolidator and processor
of used lubricant oil and seller of processed fuel oil, with a
national network of oil storage and transfer stations. Used oil is
converted into processed fuel oil at OSS's plant at Stourport and
principally sold on to the UK quarry and power industry. In April
2015, Hydrodec further acquired the business and assets of Eco Oil,
a leading UK waste oil collector and supplier of recycled
industrial fuel oil into the power and road stone industries. It is
also one of four significant providers of waste management services
to the marine industry in the UK, specifically oily-water slops or
marine pollutant (MARPOL). In line with our stated intention to
develop a base oil re-refinery in the UK, we have an exclusive
licence agreement with California-based Chemical Engineering
Partners (CEP) to develop the CEP wiped-film evaporation and
hydrogenation technology in the UK as well as the basic engineering
for a 75 million litre per annum capacity base oil re-refinery.
Hydrodec's shares are listed on the AIM Market of the London
Stock Exchange. For further information, please visit
www.hydrodec.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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