Stobart Group Limited Stobart Biomass Contract (4013K)
30 Luglio 2013 - 8:00AM
UK Regulatory
TIDMSTOB
RNS Number : 4013K
Stobart Group Limited
30 July 2013
Stobart Group Limited
30 July 2013
STOBART GROUP LIMITED
('Stobart' or 'the Group')
Stobart Biomass Contract
The Board of Stobart is pleased to announce that Stobart Biomass
Products Limited ("Stobart Biomass") has entered into a new,
long-term contract to supply fuel to the Evermore Renewable Energy
Plant, a 15.8 MWe recycled wood fuelled combined heat and power
(CHP) station to be constructed in Derry/Londonderry.
Construction work on the CHP plant will start in the coming
weeks and it is expected to become fully operational by summer
2015. Stobart Biomass will supply the plant with over 115,000
tonnes of recycled wood per annum and is contracted to supply fuel
for 15 years from the commencement date. The Group expects to
generate revenues of approximately GBP75 million over the life of
the contract.
Funding for the GBP80 million Evermore plant has been provided
principally by the UK Waste Resources & Energy Fund (UKWREI), a
fund managed by The Foresight Group and in which the UK Green
Investment Bank plc is a cornerstone investor, Investec Bank plc
and Eksport Kredit Fonden.
A key element in enabling a project such as this to obtain
funding is the provision of a long-term, reliable, sustainable fuel
supply. Stobart Biomass is able to meet these demanding
requirements and the award of this contract adds further to the
Group's reputation among plant developers and financiers as a
respected, reliable supplier of high volumes of fuel to the rapidly
developing biomass power market.
Andrew Tinkler, Chief Executive Officer, said "Stobart Biomass
is seeing increased demand for its range of products across the UK
and is pleased to support Evermore with this key development in
Derry/Londonderry. Stobart Biomass has an extensive pipeline of
opportunities. We look forward to helping plant developers and
funders to bring those opportunities to fruition and growing our
Biomass business."
ENDS
About Stobart Biomass
Launched in early 2010, Stobart Biomass is a leading processor,
supplier and transporter of biomass fuels, forming a supply
partnership with customers that plays a valuable role in meeting
the UK's biomass targets. Biomass is the valuable fuel that is
powering the rapidly-emerging minimum carbon heat and power
generation sector.
Stobart Biomass employs around 300 personnel and is now at the
forefront of the fast-developing UK market. In addition to the wood
and life-expired timber traditionally used for biomass, the Company
has been quick to identify and develop the potential of Refuse
Derived Fuels, exporting large volumes to energy plants across
northern Europe and Scandinavia.
Today Stobart Biomass is processing material at a national
network of strategically located sites close to both the feed
stocks and the end users, minimising unnecessary transport and
cutting carbon emissions. These sites also offer valuable
stockpiling capacity, providing ample material to meet peak winter
demands.
Transportation is an important factor in the supply of all forms
of solid fuel. Around 40% of the cost of biomass fuels is
attributable to logistics and cost-effective, environmentally
responsible delivery to market is essential. Drawing on the
industry-leading logistics capability of Eddie Stobart and its
dedicated environmental transport fleet, Stobart Biomass is capable
of matching the smallest up to the largest fuel contracts with
unrivalled logistics capability and benchmark standards of
efficiency.
About Stobart Group
With over 5,900 employees operating from more than 50 sites
across the UK and Europe, Stobart is a UK front-runner in the
multimodal logistics, warehousing, civil engineering, rail
infrastructure and biomass fuel sectors. At the core of the Group
is the Transport and Distribution division, incorporating Eddie
Stobart - the iconic name behind a huge road haulage fleet
totalling some 2,400 vehicles, over 3,000 trailers and over seven
million square feet of warehousing. Stobart Estates, Stobart
Infrastructure and Civils, Stobart Air and Stobart Biomass
divisions complete the Group's business structure.
www.stobartgroup.co.uk
Enquiries:
Stobart Group +44 1925 605 400
Andrew Tinkler, Chief Executive
Officer
Ben Whawell, Chief Financial Officer
i-nfluence Associates +44 20 7287 9610
Stuart Dyble/James Andrew
Lansons Communications +44 7979 692287
Tony Langham
tonyl@lansons.com +44 20 7294 3617
Anna Schirmer +44 20 7294 3605
This information is provided by RNS
The company news service from the London Stock Exchange
END
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