- Oops!Something went wrong.Please try again later.
CMG Cleantech S.A.
Corporate News Release
CMG CLEANTECH GROWS ITS ENVIRONMENTAL AND SUSTAINABILITY BUSINESS WITH THE ACQUISITION OF RECYCLING TECHNOLOGY COMPANY, OCEAN POLYMERS
London, 1 June 2022, CMG Cleantech S.A. (“CMG”), a clean energy and technology corporation, today announced it has agreed to the terms of acquisition of Ocean Polymers, a British recycling technology company as the latest step of its acquisition drive. The completion of this acquisition is subject to ongoing Due Diligence and approval by the shareholders. Upon receiving approval, Ocean Polymers will become part of the CMG Group of Companies.
CMG is adding to its portfolio today and driving further diversification in its environmental and sustainability business with the acquisition of Ocean Polymers. Ocean Polymers was launched in 2017 and has devised a unique system to address the critical plastic problem that is damaging the world's oceans and their delicate ecosystems.
Their game-changing technology aims to transform the way general waste is handled on a global scale. While most waste to energy involves the burning or burying of waste, Ocean Polymers’ technology fully recycles the waste, effectively turning general waste back into oil, hydrogen and other usable products for industry.
The total consideration for the acquisition of Ocean Polymers will be approximately 100 million Euros to be paid by the issuance of unlisted notes for a total value of 100 million Euros. This purchase consideration will be fully settled in unlisted notes.
About Ocean Polymers
Drawing on the expertise and experience of internationally renowned academics on the topics of plastic pollution, climate change and the devastating impact on the planet, Ocean Polymers consists of a technology team of world leaders in the field of Plasma Enhanced Melter® Technology (PEM®) who aim to provide a sustainable solution to the removal and processing of ocean waste. Ocean Polymers works towards giving individuals, companies and governments the technology needed to turn waste into a valuable resource, enable sustainable communities and preserve the planet.
About CMG Cleantech S.A.
Listed on the Euronext Paris Exchange, CMG Cleantech S.A. (CMG) is driven by a strong, secure ESG strategy – to develop the clean hydrogen and solar technology at its disposal and help countries, organisations and individuals alleviate their environmental impacts and meet ambitious 2050 carbon neutrality goals
Contacts for IR and Media Enquiries:
Nicholas Ferguson, email@example.com
CMG Cleantech S.A.
6 place de la Madeleine
Inside information / Other releases
EQS News ID:
End of Announcement
EQS News Service