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UK plant to contribute 20% to Tex Cycle's profit

Updated: Sep 28, 2019

First published by The Star online (Malaysia) on Thursday 12th September 2019




KUALA LUMPUR: Earnings from scheduled waste recycling company TEX CYCLE TECHNOLOGY (M) BHD’s joint venture in the UK are expected to contribute an estimated 20% to the group’s net profit beginning 2021.

This follows the commencement of operations of the joint venture’s first 2MW renewable electrical energy plant (REEP) plant in Ellesmere Port, Cheshire, by end-2020.

Apart from the 2MW electricity production, the plant will also process 30,000 tonnes of refuse derived fuel (RDF) per annum.

Tex Cycle and the UK’s Culzean Generation Ltd had recently formed a 50:50 joint venture company, Culzean W2E Ltd, to build and manage REEP projects in the UK.

Speaking at a press conference yesterday, Tex Cycle CEO Gary Dass said the group aims to prolong landfill life in the UK by offering its expertise in biomass gasification to generate power from waste.

“The joint venture seeks to also provide eco-friendly energy at a competitive price point without upsetting the ecosystem.

“The electricity and heat produced are used directly by the waste management firm, while the excess energy will be exported to the grid.

“The rationale of working in partnership with UK waste management companies is to secure the supply of adequate feedstock to sustain this business model,” he said. Read more at https://www.thestar.com.my/business/business-news/2019/09/12/uk-plant-to-contribute-20-to-tex-cycles-profit#gkoReSwhj6ySJ9oA.99


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