EQTEC PLC - North Fork Project Financial Close
("EQTEC", the "Company" or the "Group")
North Fork Project Financial Close and
Accordingly, the Equipment Sale and Services Contract between the Company and NFCP, originally announced on
Under the Contract, the Group will invoice to NFCP a total of
On commissioning, which is expected before the end of Q1 2021, the Project is estimated by NFCP to have a valuation of approximately
EQTEC co-operated closely with its partner in
"We are delighted that together with Phoenix Energy we have now achieved financial close with North Fork. Despite facing challenges outside our control in the financial closing process, both teams worked relentlessly and creatively to achieve financial close by the year end as was required. We see the funding of our first project in the US as an important milestone to attract funding for the rest of the
"Reaching financial close on our
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
| || |
+353 (0)21 2409 056
Strand Hanson - Nomad & Financial Adviser
+44 (0) 20 7409 3494
| || |
+44 (0)1483 413 500
IFC Advisory - Financial PR & IR
+44 (0) 20 3934 6630
| || |
Notes to Editors
EQTEC is the technological solution partner for converting waste to clean energy.
EQTEC mission is to provides sustainable technological solutions to address two of the world's greatest challenges: managing rising levels of waste and meeting the growing demand for clean energy.
EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects which will convert waste into clean energy, to which it will ultimately sell its EQTEC Gasifier Technology ("EGT") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.
EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects.
EQTEC also seeks to provide Operation & Maintenance services to established operating co-generation plants generating recurring revenues over the life of the projects.
The Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com.
This information is provided by RNS, the news service of the
Quick facts: EQTEC PLC
Market Cap: £7.27 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE