News: Sterecycle publish prospectus in preparation for share issue
Clean technology company, Sterecycle, which has a pioneering waste processing plant in Rotherham, has published a detailed investment prospectus as they prepare to launch on the Canadian stock exchange.
A deal is being put in place between Sterecycle and Spara Acquisition One Corporation, a fledgling company trading on Canada's TSX Venture exchange. A takeover would enable Sterecycle to trade on the Canadian exchange and raise funds through the sale of shares.
The company uses a patented steam processing method called autoclaving to "pressure cook" household and commercial black-bag waste. The Rotherham plant is the world's first commercial scale autoclave waste treatment facility and recovers waste in the form of recyclables and a biomass rich soil like substance called "Sterefibre" which has a number of uses.
The Templeborough site has been operational since August 2008 and employs 50 local people. It is as a blueprint for a future roll out of waste processing sites around the country.
The plant is currently being expanded and upon completion, which is expected in in August, the annual capacity will be increased to approximately 170,000 tonnes of unsorted black-bag waste from local households and businesses.
The aim is for between 80 - 90% of typical household waste to be recycled and recovered.
Funding is required for further growth in the UK and abroad and Sterecycle expect that North America, Eastern Europe and China will be growth markets in the medium to long term, as municipalities look to procure more waste treatment facilities and divert waste away from landfill.
In addition, the new company is well positioned to develop an international technology transfer licensing or a joint venture program, and is also examining the use of Sterefibre in CHP (Combined Heat and Power) plants.
The Rotherham plant already has planning permission to develop a CHP plant adjacent to its waste treatment facility. This could generate all the energy required to operate the plant in addition to exporting surplus energy to the grid.
Sterecycle has already raised about $85m (£56m) in equity from a number of private investors. They are backed by blue chip investors including Fidelity International, Impax Asset Management and Aston Hill Financial and recently secured £5.1m of investment to expand waste processing capacity in Rotherham.
It is currently proposed that Spara Acquisition One would issue a total of 25,142,857 shares. This values Sterecycle at 88 million Canadian dollars, around £56m.
Sterecycle website
Images: Sterecycle
A deal is being put in place between Sterecycle and Spara Acquisition One Corporation, a fledgling company trading on Canada's TSX Venture exchange. A takeover would enable Sterecycle to trade on the Canadian exchange and raise funds through the sale of shares.
The company uses a patented steam processing method called autoclaving to "pressure cook" household and commercial black-bag waste. The Rotherham plant is the world's first commercial scale autoclave waste treatment facility and recovers waste in the form of recyclables and a biomass rich soil like substance called "Sterefibre" which has a number of uses.
The Templeborough site has been operational since August 2008 and employs 50 local people. It is as a blueprint for a future roll out of waste processing sites around the country.
The plant is currently being expanded and upon completion, which is expected in in August, the annual capacity will be increased to approximately 170,000 tonnes of unsorted black-bag waste from local households and businesses.
The aim is for between 80 - 90% of typical household waste to be recycled and recovered.
In addition, the new company is well positioned to develop an international technology transfer licensing or a joint venture program, and is also examining the use of Sterefibre in CHP (Combined Heat and Power) plants.
The Rotherham plant already has planning permission to develop a CHP plant adjacent to its waste treatment facility. This could generate all the energy required to operate the plant in addition to exporting surplus energy to the grid.
Sterecycle has already raised about $85m (£56m) in equity from a number of private investors. They are backed by blue chip investors including Fidelity International, Impax Asset Management and Aston Hill Financial and recently secured £5.1m of investment to expand waste processing capacity in Rotherham.
It is currently proposed that Spara Acquisition One would issue a total of 25,142,857 shares. This values Sterecycle at 88 million Canadian dollars, around £56m.
Sterecycle website
Images: Sterecycle
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