Creation Capital to acquire Greenlane Biogas holding company for £11m.

Pressure Technologies, the specialist engineering group agreed to sell its wholly-owned subsidiary, PT Biogas Holdings Limited, which is the holding company for the Group's Alternative Energy Division which trades under the name Greenlane Biogas, to Creation Capital Corp a capital pool company listed on the TSX Venture Exchange for a total consideration of £11.1m. Commenting on the Sale, Chris Walters, Chief Executive of Pressure Technologies, said: "As a result of this strategic review and following the appraisal of outright sale and merger options, we have commenced a process to spin out Greenlane and list it on the TSX Venture Exchange, which will be accomplished by selling it to Creation Capital. We will remain a supportive minority shareholder and anticipate retaining our holding for the medium term."