Hydrodec achieves new production record and aims for more

Hydrodec Group said its plant at Canton, Ohio, which re-refines waste transformer oil into a reusable product via its low emission process, has hit a monthly production record of 2.45m litres in February.

FTSE AIM All-Share

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15:45 15/11/24

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HydroDec Group

3.35p

16:44 01/04/21

3.08%

0.10p

Oil & Gas Producers

8,043.72

15:45 15/11/24

1.32%

105.17

The AIM-listed company said the Canton plant also achieved a record daily shipment of 378,000 litres of its 'Superfine' product to customers on 29 February.

"I would expect we can improve on this further," said chief executive Chris Ellis. "Operational performance is a key platform for our strategy of growth in the US and these records confirm the improvement in operability and rateability of the plant as we continue to rebuild market share in the US."

Shares in the company were up 4% at 3.51p just before 1400 GMT on Thursday.