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EQTEC PLC - Loan Facility drawdown

RNS Number : 9227A
EQTEC PLC
03 June 2019
 

3 June 2019

 

EQTEC plc

("EQTEC" or the "Company")

 

Loan Facility drawdown

 

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, today announces a £0.2 million drawdown under the £3.5 million loan facility with Altair Group Investment Limited ("the Loan Facility").  Further details on the Loan Facility were announced on 22 January 2019.  A balance of £0.679 million remains available to be drawn down under the Loan Facility.

 

This drawdown will allow the Company to focus its resources on achieving contract execution and these funds will be used for working capital purposes in line with this objective.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

Enquiries

 

EQTEC plc

+353 (0)21 2409 056

Ian Price - Chief Executive Officer

Gerry Madden - Finance Director


 

Strand Hanson - Nomad, Financial Adviser & Broker

 

+44 (0) 207 409 3494

James Harris/Richard Tulloch/Jack Botros

 


IFC Advisory - Financial PR & IR

+44 (0) 203 934 6630

Tim Metcalfe / Miles Nolan / Zach Cohen


 

Notes to Editors

 

About EQTEC plc

 

EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects 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. Furthermore, EQTEC will provide O&M services to the operating projects 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 London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: EQTEC PLC

Price: 0.465

Market: AIM
Market Cap: £18.78 m
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