California carbon market launches, permits priced below expectations

By Rory Carroll

SAN FRANCISCO | Mon Nov 19, 2012 4:56pm EST

SAN FRANCISCO (Reuters) - California's largest greenhouse gas emitting businesses paid $10.09 per metric tonne (1.1 ton) for the right to release carbon, raising almost $300 million for the cash-strapped state and its energy companies in its first-ever carbon permit auction,

The permit price was below market expectations despite strong demand from utility companies, manufacturers and oil refineries participating in the auction, market sources said.

Ahead of the California Air Resources Board announcement on Monday, traders, brokers and analysts had predicted a clearing price in the range of $11.75 to $12.50 a tonne.

"The clearing price was below expectations but total participation was higher than most expected from vintage 2013," said Jeff King, managing director of environmental markets at Scotiabank.

All of the 23.1 million permits offered at the auction to cover 2013 emissions were bought, raising $233 million. The money will be given to the state's utility companies, which must use it to protect ratepayers.

The California carbon auction is a key component of the state's cap-and-trade program, the first of its kind in the country. State officials hope it will serve as a model for other states and the federal government.

The program is part of a broader effort to reduce Californian emissions to 1990 levels by 2020 -- about a 15 percent reduction, compared to business-as-usual forecasts.

The permit sale was held on November 14 and announced Monday. It is a crucial step ahead of the cap-and-trade program's official start on January 1, 2013.

"By putting a price on carbon, we can break our unhealthy dependence on fossil fuels and move at full speed toward a clean energy future," Mary Nichols, chairwoman of the board, said in a statement.

"That means new jobs, cleaner water and air -- and a working model for other states, and the nation, to use as we gear up to fight climate change and make our economy more competitive and resilient."

LAWSUIT LOOMS

Compliance entities -- companies directly affected by the state's carbon caps -- bought around 97 percent of the allowances. Financial institutions bought the remaining 3 percent, the board said.

The state also auctioned 39.5 million permits that cover 2015 emissions but only sold about 5.6 million allowances.

Demand for those permits was weaker than expected, and those allowances cleared at $10.00/t, the lowest price allowed under the program's rules.

The $55 million raised by the sale of those allowances will be deposited into the state's newly minted Air Pollution Control Fund.

The money from the permit auction must be used to fund clean energy projects and energy efficiency programs, although details on how exactly the money should be spent needs to be hammered out by the state legislature.

Nichols said she wasn't surprised that not all of the 2015 allowances were sold given the large number of permits offered.

On the eve of last week's auction, the state's largest business group, the California Chamber of Commerce, filed a lawsuit challenging the state's right to sell allowances and keep the profits.

Although the state is giving 90 percent of the program's allowances away for free to covered businesses at the outset of the program, the group said all of the permits should be handed out freely, which would negate the need for the state's quarterly permit auctions.

Nichols told reporters on a conference call the lawsuit had "no impact" on the auction.

During its first two-year phase, the cap-and-trade program will cover 350 businesses representing 600 facilities, including power plants, cement-making facilities and oil refineries.

Banks and other financial institutions are also allowed to participate in the auction, although there are limits to the number of permits any one entity can hold.

Trade of CCA futures contracts, which have been traded on the IntercontinentalExchange since August 2011, were quiet in the run-up to the auction results.

Prior to the announcement, CCAs for 2013 emissions were bid at $10.25 with an asking price of $14, a wider than usual spread, with no trades seen, one trader said.

Ahead of the auction results announcement, traders and brokers said they expected the secondary market price for allowances to quickly align with the auction clearing price.

(Reporting By Rory Carroll; Editing by Bob Burgdorfer and David Gregorio)

 

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Bloomberg News

California Carbon Allowances Sold Out at $10.09 in Auction

By Lynn Doan on November 19, 2012

Bottom of Form

Carbon allowances for the start of California’s program to curb greenhouse-gas emissions, the largest U.S. system of the kind, sold out last week at $10.09 a metric ton, lower than the range analysts forecast.

The state Air Resources Board sold all 23.1 million carbon permits offered at a Nov. 14 auction for the first compliance period of the program starting Jan. 1, the agency’s website showed today. The permits, each of which allows the release of one metric ton of carbon, were estimated to clear between $12 and $15 a ton in the first auction, according to Bloomberg New Energy Finance.

Carbon futures fell to $12.15 a ton after the California Chamber of Commerce filed a lawsuit challenging the state’s authority to sell permits. The program covers 85 percent of emissions in an economy valued at $1.74 trillion last year. The state is giving away about 90 percent of permits at the onset and selling the rest in what will be the second-biggest carbon market, after the European Union program.

The auction clearing price “echoes the sentiments expressed by some market participants regarding the uncertainties and the sheer volume of allowances being auctioned in this round,” Samantha Unger Katz, managing director of BGC Environmental Brokerage Services in New York, said by e-mail.

Second Phase

Futures contracts based on carbon permits for 2013 were trading at $11.60 a metric ton on the Atlanta-basedIntercontinentalExchange Inc. (ICE) at 4:26 p.m. New York time, down from $12.05 on Nov. 16, Lenny Hochschild, head of global carbon trading for broker Evolution Markets in White Plains, New York, said. No trades were done this morning before the release of the auction results, he said.

The state sold 5.58 million out of the 39.5 million allowances it put up for auction to be used in the second phase of the program, beginning in 2015. The advance permits cleared at $10 each, the lowest price allowed by the program, known as the “floor” price.

Bloomberg New Energy Finance predicted that some of the advance allowances would go unsold as fuel distributors waited to begin stockpiling credits.

Capping Carbon

Companies bid for more than three times the number of allowances up for sale to be used in the first compliance period, the state air board said.

“That’s around 70 million allowances bid, so that’s pretty healthy,” Anthony D’Agostino, director of emissions markets at RBC Capital Markets, said by telephone. “On the flip side, there were probably a lot of people who said, ‘Let’s stick some bids in at $10,’ so you have to weigh that a little. If there was no price floor, I think it would have been less.”

The California Chamber of Commerce filed a lawsuit Nov. 13 against the auction, calling it “an unconstitutional fee.” The group argued in the suit that the air board lacks authority to sell carbon allowances, saying it’s paramount to an invalid tax costing taxpayers $70 billion.

California plans to cap carbon emissions beginning next year from power generators, oil refineries and other industrial plants. The limit will decline each year to achieve a 15 percent reduction in emissions by 2020. Companies must surrender carbon permits to cover their emissions over three phases of the program. Those that discharge less than their cap can sell their spare allowances.

Auction Results

Mary Nichols, chairman of the air resources board, said the agency was “delighted” by the results of the Nov. 14 auction.

“We’re just pleased that the allowances sold out and that they sold out at a good price,” Nichols said. “That’s a sign that we’ve got a vibrant and successful market here.”

More than 70 companies qualified to bid in Nov. 14 auction, with BP Plc (BP/), Chevron Corp. (CVX), Exxon Mobil Corp. (XOM), Royal Dutch Shell Plc (RDSA), Tesoro Corp. (TSO) and Valero Energy Corp. (VLO) among the refiners who registered to participate. The qualified power utilities included Pacific Gas & Electric Co., Los Angeles Department of Water & Power, San Diego Gas & Electric Co. and Southern California Edison.

Morgan Stanley (MS), Noble Corp. (NE), Royal Bank of Canada and Vitol Inc. also qualified to bid.

The auction was conducted electronically and overseen by a half-dozen agency staff members in a room without windows. The agency took five days to review the auction for manipulation before certifying results.

To contact the reporter on this story: Lynn Doan in San Francisco at ldoan6@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

Click here for direct link to this article: http://www.businessweek.com/news/2012-11-19/california-carbon-allowances-sold-for-10-dot-09-in-first-auction

R-22: Contractors’ Perspectives On The Confusion

By Margo Vanover Porter

Don't miss the online extras at the bottom of this article.

Although the price of R-22 has doubled — some say tripled — in the past year, air conditioning contractors appear to be taking it in stride. “I’m not surprised at the price increase, and I think you’ll see it go up considerably more in the next couple of years,” says Bill Anderson, president, LBA Air Conditioning Heating and Plumbing, Mission, KS. “We saw this with R-12. You’ll see it with R-22. We knew prices were going to go up dramatically as there was less production. We’ve been installing R-410A equipment for quite a few years. It wasn’t a big shock. We’ve known for 20 years this was coming down the road.”
In fact, Anderson likes the new price tag. “To me, I feel like it’s been a benefit,” he says. “It stops the customers who have a leak and are just adding R-22 to their systems. Once you have them properly charged, the units start to leak the next day. Although I’m probably on the other side of the fence from other contractors, I believe the price increase will encourage more customers to do the right thing.”
Brian Holt, president, Mast Heating & Cooling, Zeeland, MI, concurs. “If the ozone layer were being damaged by CFC refrigerants and R-22 is the next in the crosshairs, let’s make it impractical for people to want to use that, so we no longer have to depend on their conscious to protect the environment,” he says. “We can count on their wallet doing the right thing.”

Selling a Service Item

In Holt’s opinion, the ongoing saga with R-22 began years ago. “When the law mandated an alternative refrigerant be put in place, the EPA created a loophole saying that a dry R-22 condensing unit would be a suitable thing to sell to people as a service item,” he says. “That was a detriment to our industry. It shouldn’t have happened, but it did. Not being able to produce R-22 equipment didn’t effectively eliminate the use of the refrigerant. So now elevating the cost will do that. Now there’s something tangible to take to the consumer and say, ‘You shouldn’t use it,’ as if it wasn’t a valid enough reason before to protect the environment.”
He points out that until the cost skyrocketed, the average customer with a failed outdoor unit, if given the choice, would opt to put in an R-22 unit. “What better deterrent to using that refrigerant than to elevate the price until it is no longer a practical alternative,” he says.
Like other contractors, Holt anticipated the price increase and purchased several skids of R-22 in advance. “We treat the sale of R-22 like we would the sale of any product. It carries a markup that covers our overhead and allows us a profit that we can sustain ourselves on. The stuff tripled in cost so the retail value tripled in cost. It’s a pass-through. It’s also a deterrent.”
He adds that he tries to be more flexible on the price for commercial accounts with systems that hold 200 to 300 pounds of refrigerant. “We’ve had to sit down and negotiate our markup on R-22 to be fair and equitable to them,” he says. “It’s like anything else. If you use a larger quantity, usually it comes at a narrower margin. commercially, it’s much harder to make the switch. We have a lot of large split systems at universities that we service. When we go to change the condensing unit, we have to flush the entire system and put in new expansion valves and retrofit it to a current refrigerant. The systems that aren’t being retrofitted, they just have to pay a premium for refrigerant to keep them running.”

Lose the Loophole

When the government mandated the phase out of R-22, Kevin Walsh admits he wasn’t a fan. “I thought it was completely unnecessary,” says the president of Schaafsma Heating & Cooling Co. in Grand Rapids, MI. But now he thinks its past time for the industry to move on.
“I wish that the loophole regarding the shipment of dry-charged units had not ever been found,” he says. “While I didn’t think it was necessary for us to switch to R-410A, once it became evident that they were going to phase out R-22, we told our customers in 2008 and 2009 that as of January 1, 2010, you’re not going to be able to buy any more R-22 air conditioners. We ended up with egg on our face when at the end of 2010, the EPA says, ‘No, the unit is just a part.’ Then the manufacturers started making them again. That loophole made us look like we were lying to customers.”
Walsh feels fortunate that his company didn’t have any customer backlash from the episode, but he knows contractors that did. Now, he can’t help but wonder about the priorities of those contractors who continue to consistently install dry-charged condensing units.
“I think it’s really a shame that in 2011 almost 30 percent of all shipments were dry-charged units. It doesn’t speak well for our industry. Those contractors that are putting in dry-charged units on a regular basis are not doing their customers any favors. In all honesty, if the government was really serious about energy efficiency and phasing out R-22 they would close this loophole.”
“Now don’t get me wrong,” he continues. “We still probably put in one or two R-22 units a year.” He explains that there are occasions when R-22 units are appropriate. But 30 percent is ridiculous.”

Steps to Take

Jerry Denton, CEO, DHC Comfort, Inc., White House, TN, reports that refrigerant that cost consumers about $35 a pound during the summer of 2011 now retails for about $60 a pound when purchased from his midsized company. “I hear of companies that are charging $90 to $100 per pound of refrigerant. I’ve also heard of companies charging $40 to $50 a pound. Those are usually smaller, one-man operations that don’t realize they can’t replace that refrigerant for what they are selling it for.”
Regardless of the reason, Denton supports the reduction in R-22 allocations. “I totally believe in the phasing out of R-22,” he says. “Although we do hear complaints from customers that it’s just a ploy to make people buy new refrigerant. I believe it’s for real, that there is global warming, and that everybody needs to do their part.”
To adjust to the new market realities of R-22, contractors suggest four steps:
1. Keep tabs on your product inventory.
“We’ve locked our refrigerant up,” Denton says. “We buy it by the skid, which is 40 cylinders, and unload it into a locked room. Only I and one other person have a key. We have four service techs that use the most refrigerant. They have to fi ll out a daily form, documenting the refrigerant they’ve used. We will not give them another jug of refrigerant unless they can document where the entire refrigerant has gone.”
2. Recapture the refrigerant. In years past, Denton gave to his local supplier any refrigerant recovered during a day’s process of repairs. Not anymore. “We’ve found there’s a lot of value to that,” he says. “We now have our own recycling tank where we’re reclaiming that refrigerant and selling it. We sold a tank in June for $1,500. That money helped to pay expenses. It does take time, but it’s time well spent.”
3. Keep customers informed. Every other month, Denton sends out a newsletter to almost 5,000 customers. When we first realized what was happening with refrigerant, we definitely got that in the newsletter. A lot of people called from that. We wanted to warn our customers about the price increase and entice them to replace their unit and upgrade to the R-410A refrigerant.”
4. Improve efficiency. “Look at this as an opportunity to upgrade your customers’ situation by converting them to a new system with R-410A or making the leak repair and stopping the problem and help their efficiency,” Anderson says. “Don’t fight the problem by trying to get some sort of sort of working drop-in refrigerant that’s a few dollars cheaper a pound. Maintain the right practices, and do what’s best for the customer.”

A-GAS INTERNATIONAL EXPANDS ITS PRESENCE IN AMERICA

LEADING REFRIGERANTS SUPPLIER A-GAS INTERNATIONAL COMPLETES STRATEGIC ACQUISITION OF KEY INDEPENDENT US REFRIGERANTS SUPPLIER AND DISTRIBUTOR, COOLGAS

Bristol-based A-Gas International (or“the Group”), one of the world’s largest independent suppliers of refrigerants, associated environmental services, and speciality gases and chemicals, has completed the acquisition of Houston, Texas based Coolgas Inc. (“Coolgas”), a leading independent supplier and distributor of refrigerants to the US market. The terms of the transaction were not disclosed.

The transaction represents the fifth strategic acquisition completed by A-Gas so far in 2012, and forms part of the Group’s acquisitive growth strategy which is being executed both in the UK and internationally. The enlarged group will have a turnover of c. £130m and 237 employees.

Founded in 1994 by Jesse Combs, Coolgas has grown over the past 18 years to become one of the leading independent distributors of refrigerants in the US. Coolgas’ “refrigerants made simple” philosophy reflects the focus on customer service that has enabled it to grow first to a regional and then to a national player. Coolgas has recently commissioned a new refrigerant storage and packaging facility in Houston and has distribution centres in California, Utah, Arizona, Indiana, Michigan, Maryland and Georgia ensuring that Coolgas is close to its customers wherever they are located.

In recent years Coolgas has also become an EPA registered reclaimer of refrigerants and a project developer for the generation of carbon offsets on the California Climate Action Reserve exchange. These capabilities enable Coolgas to manage the lifecycle of Ozone Depleting Substances (ODS) and substances with high Global Warming Potential (GWP) to safeguard the environment.

The acquisition builds on A-Gas’acquisition of Ohio based refrigerant reclaimer and halocarbon management specialist RemTec International in July 2012. Coolgas provides a strong strategic fit, bringing a strong brand and complementary footprint that will accelerate refrigerants sales growth. Further the reclaim and carbon credits businesses extend A-Gas’ existing operations in the US Environmental Services market which is already well established in the UK and Europe.

The acquisition of Coolgas follows on from the successful acquisitions not only of RemTec International in July 2012 but also of Australian based Technochem in March 2012 and SA Rural in May 2012, and UK based A-Zone Technologies in April 2012.

Commenting on the acquisition:

John Rutley, Executive Chairman and founder of A-Gas International said:
Jesse Combs and his management team have built a great business in the US refrigerant sector and we are delighted to add it to our rapidly expanding presence in this important market. The fit with our recently acquired business, RemTec, is perfect and allows us to offer a full range of products and services to our customers in the world’s largest refrigerant market.

Jon Masters, Regional Managing Director of A-Gas International said:

The acquisition of Coolgas will significantly strengthen our position as the leading independent global supplier of refrigerants at a time when regulatory changes are providing increasing opportunities for reclamation and recycling of used refrigerants using our market leading technology developed in the UK. We look forward to supporting the Coolgas management team and workforce in continuing to provide outstanding service to its customers.

Jesse Combs, CEO of Coolgas said:

I feel honoured that A-Gas saw Coolgas as a strategic fit and entry point into the US refrigerants’ distribution business. Our team of professionals have a customer service mind-set that I believe sets Coolgas apart from the rest of the industry. I have the upmost confidence that the A-Gas team will support and grow upon our "refrigerants made simple" philosophy for many years to come.

About A-Gas International

A-Gas is an international group of companies with headquarters in Bristol, UK. A-Gas is a market leader in the supply of refrigerants within its core territories in the U.K., South Africa, and Australia, and has state of the art storage, blending, packaging and reclamation facilities in Bristol, Cape Town, and Melbourne. The company also has marketing and distribution centres in Singapore, Thailand, China and Mexico. In the US, A-Gas has a Performance Chemicals business located in Doylestown, Pennsylvania; RemTec International, a refrigerant reclaimer and halocarbon management specialist located in Bowling Green, Ohio; and now Coolgas, headquartered in Houston, Texas. For more information, visit www.agas.com

About Coolgas

Coolgas Inc. was started in 1994 as a distributor of refrigerant gases. Through a continual focus on customer service embodied by its “refrigerants made simple” philosophy it has gained customers across the United States and grown to become one of the leading independent distributors of refrigerants. Coolgas supplies a full product range from essential use CFCs through to the most recent HFC blends. Coolgas also supplies in a wide variety of formats from the smallest auto aftermarket disposable cans through to bulk tankers for industrial customers. Coolgas is an EPA approved refrigerant reclaimer. The Coolgas, Inc. headquarters are located 40 miles north of Houston, Texas. For more information visit www.coolgas.com

Global Expansion Continues With US Deal

The Bristol Post
Michael Ribbeck
August 8 2012

A-Gas buys disposal specialist

A company based in Portishead which specializes in supplying gases used in refrigeration has just completed its fourth takeover this year.

A-Gas has gone on its acquisition spree as part of a strategy to expand into international markets.

The firm is already one of the world's largest suppliers of refrigerated gases, environmental services and specialty gases and chemicals.

The company, which also has offices in Bristol, has bough United States based RemTec International in its latest deal. The firm specializes in disposing of harmful gases.

The value of the deal was not made public but it took place with support from private equity specialist LDC, which invested in the firm in April 2011.

RemTec was set up in 1986 and provides products and services inolved in managing Ozone Depleting Substances (ODS) and substances high in Global Warming Potential (GWP) across the world. 

As part of the expansion plan A-Gas has now got a presence in the Middle East, China, Australia and India as well as Latin America.

RemTec has contracts with organizations all over the world to remove, recycle and remarket halocarbons.

The acquisition of RemTec follows on from similar acquisitions of Australian-based Technochem in March and SA Rural in May, and UK based A-Zone Technologies in April.

John Rutley, chairman of A-Gas International, said, "The acquisition of RemTec is another great example of our ambition to grow the business on a global scale."

"RemTec brings a market leadership position in Halons and a strong platform for growth in refrigerants; we believe that there is real scope to build further upon RemTec's success to date in North America, whilst also driving value across the enlarged group."

Ian Podmore of LDC added: "2012 has been an exceptionally busy year to date for A-Gas. RemTec is the fourth strategic acquisition completed by the business this year and not only strengthens their existing position in the global refrigerant market but also gives the business real scale within the USA."

"The transaction brings many strategic benefits to A-Gas and is part of an agreed strategy to rapidly expand and build the business both through organic investment and bolt-on acquisitions. We will continue to work closely with the team to drive their amitious growth plans."

Yann Souillard, managing director of LDC South Region, added: "LDC's South team has worked in close conjunction with the management team to support their ambitious 'buy and build' growth strategy. As part of our investment commitment, LDC works closely with our investment portfolio to provide expertise and follow-on funding when the right target companies become available."

West Gas Firm Expands With Buying Spree

Western Daily Press
9 August 2012

A company based in Portishead which specializes in supplying gases used in refrigeration has just completed its fourth takeover this year.

A-Gas has gone on its acquisition spree as part of a strategy to expand into international markets.

The firm is already one of the world's largest suppliers of refrigerated gases, environmental services and specialty gases and chemicals.

The company, which also has offices in Bristol, has bough United States based RemTec International in its latest deal. The firm specializes in disposing of harmful gases.

The value of the deal was not made public but it took place with support from private equity specialist LDC, which invested in the firm in April 2011.

RemTec was set up in 1986 and provides products and services inolved in managing Ozone Depleting Substances (ODS) and substances high in Global Warming Potential (GWP) across the world. 

As part of the expansion plan A-Gas has now got a presence in the Middle East, China, Australia and India as well as Latin America.

RemTec has contracts with organizations all over the world to remove, recycle and remarket halocarbons.

The acquisition of RemTec follows on from similar acquisitions of Australian-based Technochem in March and SA Rural in May, and UK based A-Zone Technologies in April.

John Rutley, chairman of A-Gas International, said, "The acquisition of RemTec is another great example of our ambition to grow the business on a global scale."

August 06, 2012 10:00 AM Eastern Daylight Time

Leading Refrigerants Supplier A-Gas International Completes Strategic Acquisition of USA Halocarbons and Recycling Specialist RemTec International

BOWLING GREEN, Ohio--(BUSINESS WIRE)--Bristol-based A-Gas International (or “the Group”), one of the world’s largest independent suppliers of refrigerants, associated environmental services, and speciality gases and chemicals, has completed the acquisition of U.S. based RemTec International (“RemTec”), a specialist in the controlled halocarbon management and sustainability industry. The terms of the transaction were not disclosed.

The transaction represents the fourth strategic acquisition completed by A-Gas so far in 2012, and forms part of the Group’s acquisitive growth strategy which is being executed both in the U.K. and internationally.
Founded in 1986, RemTec has provided products and services involved in managing Ozone Depleting Substances (ODS) and substances high in Global Warming Potential (GWP) on a worldwide basis. The Company’s patented and proprietary equipment is used to recover and reclaim Halons and their replacement agents used in the fire protection industry, and also CFCs, HCFCs, and HFCs used in refrigerant and HVAC applications. Through expanding its geographic footprint to international locations such as Middle East, China, Australia and India, and integrating key technologies and equipment, RemTec possesses one of the most comprehensive and technically advanced international operations in the controlled halocarbons industry, enabling it to extract maximum value from ODS and GWP substances while safeguarding the environment.

RemTec’s capabilities represent a complete “end-to-end” solution for clients’ controlled halocarbon needs, including identification of unknown substances that may damage the environment, on-site removal and packaging and handling in accordance with all regulations, cylinder refurbishing and recertification, fractional distillation, and establishing halocarbon banks and strategic reserves. RemTec also offers safe and reliable halocarbon destruction options for all ODS and GWP material, and is one of the largest generators of carbon offset credits issued by the California Climate Action Reserve. RemTec contracts with organizations all over the world to remove, recycle, and remarket controlled halocarbons, including the US and multiple other federal governments and numerous Fortune 500 companies serving the aviation, fire suppression, refrigeration, propellant, and environmental services end markets.

RemTec also recycles used refrigerants, where its specialised equipment and expertise allows it to provide a full reclaim and product stewardship package to refrigerant users in this environmentally sensitive sector.
The acquisition provides a strong strategic fit with A-Gas’ existing operations in the Environmental Services market which is already well established in the U.K. and Europe, and provides the business with a solid foothold within the all-important North American market.

The acquisition of RemTec follows on from the successful acquisitions of Australian based Technochem in March 2012 and SA Rural in May 2012, and U.K. based A-Zone Technologies in April 2012.
Commenting on the acquisition:

John Rutley, Executive Chairman of A-Gas International said:
“The acquisition of RemTec is another great example of our ambition to grow the business on a global scale. RemTec brings a market leadership position in Halons and a strong platform for growth in refrigerants; we believe that there is real scope to build further upon RemTec’s success to date in North America, whilst also driving value across the enlarged group.”


About A-Gas International
A-Gas is an international group of companies with headquarters in the U.K. A-Gas is a market leader in the supply of refrigerants within its core territories in the U.K., South Africa, and Australia, and has state of the art storage, blending, packaging and reclamation facilities in Bristol, Cape Town, and Melbourne. The company is rapidly growing its market share in Asia and the Americas with sales offices in Singapore, Thailand, China and USA. For more information, visit www.agas.com
About RemTec International
For more information, visit www.remtec.net