EQTEC PLC - Upgrade Contract with University of Extremadura
("EQTEC", the "Company" or the "Group")
Upgrade Contract with
The award of the Upgrade Contract follows a successful funding application by the University to the
Pursuant to the Upgrade Contract, EQTEC is responsible for purchasing, installing, commissioning and startup of the Fischer-Tropsch unit, for which it has secured short-term project level financing from
The Fischer-Tropsch process is a catalytic chemical reaction in which compounds in syngas are converted into liquid transportation fuels. Following completion of this upgrade, EQTEC will have the ability to carry out tests with a variety of biomass and waste feedstocks, which will be processed into a clean syngas and then into sustainable biofuels such as biodiesel and other transportation fuels.
"Our continuous work with universities and technology research centres is a testament of our ambition to remain a technology thought leader in our sector and our desire to continue to develop our technology for wider applications. Having access to the testing Facility, where we could use the pure syngas produced from our advanced gasification technology to produce biofuels, should assist in validating to all future stakeholders the quality of our process and the versatility of application of our technology."
Dr. Juan Félix González González, Professor of the
"We have been working with
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.
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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 Advanced Gasification Technology and O&M services. EQTEC Advanced Gasification Technology 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 O&M services to established operating co-generation plants generating recurring revenues over the life of the projects.
The Company is quoted on AIM, bears the Green Economy Mark awarded by the
This information is provided by RNS, the news service of the
Quick facts: EQTEC PLC
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