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22 February 2006
Not for release, publication or
distribution in the United States
Tersus Energy plc – Board Changes
Tersus Energy (“Tersus Energy”
or “the Company“), the AiM-listed renewable
energy business, announces a change to its Board of
Directors.
Anthony Moore and Kenneth Denos have
resigned from the Board. They will receive compensation
in accordance with the contractual entitlement provided
by their service contracts.
Tony Moore said:
“Ken and I are proud to have been associated with
the Company’s success to date and are confident
of continuing success as Tersus Energy realises its
full potential.”
John Devaney, Chairman, commented:
“I would like to express my gratitude to Tony
and Ken for their superb contributions to Tersus Energy's
development. I am pleased that each of them will be
continuing their support for the Company by using their
compensation amount to buy Tersus Energy shares in the
market, which will be completed as soon as practicable
subject to market conditions and regulatory restrictions.
Today’s Board changes reflect the Company’s
successful evolution since its listing in February last
year to become an investor and operator through its
renewable energy businesses.”
Enquiries:
Tersus Energy plc
Steven Levine, Chief Executive Officer
David Wilson, Finance Director
Tel: 020 7408 5420
M Communications
Patrick d'Ancona
Nick Fox
Tel: 020 7153 1540
Notes to Editors
About Tersus Energy plc
Tersus Energy floated on AIM in February
2005. Prior to its IPO, Tersus was a majority owned
subsidiary of Moore Clayton & Co Inc (‘MCC
I’). Following the IPO, MCC I was a substantial
minority shareholder and accordingly MCC I nominated
three members of the Tersus Board.
Following Tersus’ fundraising
in December 2005, MCC I’s shareholding reduced
to approximately 26%. Tersus has moved progressively
from being an advisory business to being an investor
and operator in three key areas of activity: Asian Renewables,
Biofuels, and Energy Controls (described in more detail
below).
- Tersus
Asian Renewables. Formed to exploit the demand
for renewable energy in Asia, Tersus Asian Renewables
is focusing on wind, biomass and clean coal, principally
in China and India. It intends to acquire interests
in businesses well placed to benefit from growth in
asian renewable generation and to develop, manage
and invest into the project streams of chosen Joint
Venture partners.
- Tersus BioEnergy.
Formed to exploit the accelerating demand for alternative
fuel based supplies of energy, Tersus BioEnergy is
focusing on biofuels (bioethanol and biodiesel) and
electricity produced from forest, agricultural, municipal
and industrial waste. It intends to develop, manage
and invest into a stream of projects with chosen Joint
Venture partners, growing in scale over time. Its
first strategic relationship is with Dynamotive Energy
Systems Corporation. DynaMotive's technology economically
converts biomass into a renewable, environmentally
friendly fuel. DynaMotive has successfully demonstrated
conversion of these residues into fuel known as BioOil.
- Tersus Energy Controls.
Formed to exploit the opportunity presented by the
increasing focus on energy efficiency and management
of electricity consumption, Tersus Energy is focusing
on mobile applications (eg. electric vehicles, Automatic
Guided Vehicles, fork lifts, fuel cells, hybrids)
and stationary applications (eg. building controls,
energy management information). Its first investment
was to acquire 100% of the business of Navitas Technologies
a canadian supplier to the north American electric
vehicles controls market.
Tersus Energy intends to build three
independently sustainable businesses on these three
platforms which it considers to be among the most attractive
available in the renewable and alternative energy sector.
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