TEG wins new green waste contract

LANCASHIRE-based TEG, which builds and operates facilities which generate energy from organic waste, has won a new contract with an existing customer.

The AIM-listed Preston company has been awarded a new contract by Perth and Kinross Council for the treatment of food and green waste at its In Vessel Composting (IVC) and Anaerobic Digestion (AD) plants at Glenfarg in Perthshire.

The contract will begin this month and is for a two-year term with a potential option to extend for a further two years. The volume of waste is expected to be 20-25,000 tonnes per year and the overall revenues will be in the region of £1.8m to £2m over the initial period of the contract.

TEG chief executive Mick Fishwick said: “We have been working with Perth & Kinross Council for many years and we are delighted to have been awarded this new contract which will enable us to further strengthen our relationship with the council.  

“It is exciting that the contract includes food waste as a new waste stream and that waste will be converted into renewable power and fertiliser in our AD facility.

“The performance of the group’s operational business has continued to be very good to date in 2013 and this contract will further underpin the sustainable revenues and profits that side of the business bring to the group.”