3 August 2007
The London Stock Exchange is delighted to welcome Nviro Cleantech plc to AIM.
Nviro Cleantech plc (AIM:NVR) aims to commercialise “clean” technologies. Nviro Cleantech was established in 2005 with the objective of collecting together a number of environmental clean technology projects that benefit the environment whilst anticipating ever-increasing legislative, financial and ethical demands for sustainable business behaviour. The company invests both the finance required and the management and administrative resources to commercialise these technologies, which have been sourced from small private developers and universities in the UK and Europe. Following a thorough process of selection and review of prospective projects Nviro Cleantech currently has a portfolio of five technologies including clean fuels from coal and biomass, wood fibre reclamation, air purification and laser ignition technologies.
The company has successfully raised £7.5 million which will give it a market capitalisation of £27.6 million on admission. The placing price is 63p.
Chris Every, Chief Executive Officer of Nviro Cleantech, said: “We are pleased that the flotation has been completed successfully and are delighted with the support from our new shareholders. The Placing will enable us to develop our business strategy and to further finance our portfolio of clean technologies, in particular our Vertus RTP technology.
“We are confident that Nviro’s technology portfolio and flexible business model gives us the necessary agility to exploit the shifting and fast growing global market for clean technologies, which has been conservatively estimated to reach US$800 billion by 2015.”
Grant Thornton Corporate Finance is acting as Nominated Adviser to Nviro Cleantech plc and Fairfax I.S. PLC is acting as Lead Financial Adviser and Broker.