HydroDec appoints Caroline Brown to its Board as Non-Executive Director

– UK, London – Hydrodec Group plc (AIM: HYR), the cleantech industrial oil re-refining group, is pleased to announce that Caroline Brown has been appointed to the Board as a Non-Executive Director and as Chair of the Audit Committee of the Board with effect from today.

Dr. Brown is currently the Chief Operating Officer and Chief Financial Officer of The Penspen Group Limited, the global engineering and consulting group. She is also an experienced Non-Executive Director, currently chairing the Audit Committees of Intelligent Energy Holdings plc and Mirland Development Corporation plc and has previously chaired the Audit Committees of WSP Group plc and Bridge Energy ASA. She has managed early stage companies and divisions of FTSE 100 companies in the energy and technology sectors and has worked as a corporate finance advisor to governments and energy companies with banks including Merrill Lynch, UBS and HSBC. Dr. Brown holds a First Class degree and PhD in Chemistry from the University of Cambridge, an MBA in Finance from the Cass Business School, is a fellow of the Chartered Institute of Management Accountants and is a Chartered Director.

Lord Moynihan, Chairman of Hydrodec, commented: “I am delighted to welcome Caroline to the Board and as Chair of the Audit Committee. She brings a wealth of financial and governance experience to the Board and will greatly strengthen its ability to support the development of the Hydrodec business.”

Hydrodec’s technology is a proven, highly efficient, oil re-refining and chemical process initially targeted at the multi-billion US$ market for transformer oil used by the world’s electricity industry. Spent oil is currently processed at two commercial plants with distinct competitive advantage delivered through very high recoveries (near 100%), producing ‘as new’ high quality oils at competitive cost and without environmentally harmful emissions. The process also completely eliminates PCBs, a toxic additive banned under international regulations. Hydrodec’s plants are located at Canton, Ohio, US and Young, New South Wales, Australia. In 2013, Hydrodec acquired the business and assets of OSS Group, the UK’s largest collector, consolidator and processor of used lubricant oil and seller of processed fuel oil, with a national network of oil storage and transfer stations. Used oil is converted into processed fuel oil at OSS’s plant at Stourport and principally sold on to the UK quarry and power industry. In April 2015, Hydrodec further acquired the business and assets of Eco Oil, a leading UK waste oil collector and supplier of recycled industrial fuel oil into the power and road stone industries. It is also one of four significant providers of waste management services to the marine industry in the UK, specifically oily-water slops or marine pollutant (MARPOL). In line with our stated intention to develop a base oil re-refinery in the UK, we have an exclusive licence agreement with California-based Chemical Engineering Partners (CEP) to develop the CEP wiped-film evaporation and hydrogenation technology in the UK as well as the basic engineering for a 75 million litre per annum capacity base oil re-refinery.

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.

here, the original post =>