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Kedko raises £750k

February, 2011

Ireland-based waste-to-energy plants developer Kedco has raised £750,000 to finance its working capital needs.

The cash was raised through a placing at 5p a share. The company’s broker has taken part of its annual retainer in the form of 200,000 shares allotted at 5p each.

AIM-quoted Kedco says that it grew its revenues from €4.1m to €5.4m in the six months to December 2010. The loss fell from €1.5m to €1.4m.

Nearly all of the revenues, and the bulk of the improvement, came from a biomass wood processing plant in Vudlande in Latvia, which benefited from its full capacity coming on stream and improved efficiency.

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