News blog

Environmental Recycling Technologies

• BY: Andrew Hore |
• POSTED: 28/11/2012 |

Environmental Recycling Technologies (ERT) has completed the renegotiation of its EcoSheet licence agreement with 2K Manufacturing Ltd and it has said that it will pay money owed to ERT. 

Ecosheet is a plywood substitute and 2K has the exclusive licence for the manufacture and sale of flat board products within the United Kingdom, Channel Islands, Isle of Man and Republic of Ireland.

2K will pay an annual royalty based on sales. It will also pay ERT £1.71m over a five year period to satisfy the arrears from the previous deal. The full success of this deal may depend on 2K successfully raising £10m to increase its capacity.

ERT owns the rights to the Powder Impression Moulding (PIM) process which can be used to produce plastic products from recycled plastic. The waste can be mixed and does not need to be sorted.

At 1.88p a share, ERT is valued at £10m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf