EQTEC Plc (LON:EQT)

EQTEC Plc (LON:EQT)


Share Price
0.80 p
Change
-0.0067 (-0.83 %)
Market Cap
£16.50 m
Proactive Investors - Run By Investors For Investors

EQTEC Plc RNS Release

Statement re EBIOSS Agreement with Urbaser


RNS Number : 4792T
EQTEC PLC
20 March 2019
 

20 March 2019

 

EQTEC plc

("EQTEC" or the "Company" or the "Group")

 

Statement re EBIOSS Energy SE Collaboration Agreement with Urbaser S.A.U.

 

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, makes the following statement in relation to EBIOSS Energy SE ("EBIOSS").

 

On 7 March 2019, EBIOSS, the Company's largest shareholder, announced that it had signed an exclusive collaboration agreement with Urbaser S.A.U. ("Urbaser") (together with EBIOSS, the "Parties") (the "Agreement") to identify and secure opportunities for the collection, treatment and, where suitable, the conversion of waste into energy.  The EBIOSS announcement stated that the Parties have agreed, subject to Urbaser technical due diligence, to use EQTEC's gasification technology for waste to energy gasification projects in Bulgaria, Greece, Macedonia and potentially Romania.

 

EQTEC confirms that it is not party to the Agreement and that there is no-binding commitment on the Company pursuant to the Agreement for the provision of its technology to the Parties.

 

On 19 March 2019, the Company received a clarificatory letter from EBIOSS in relation to the terms of the Agreement and the Parties' intentions regarding the potential use of EQTEC's technology.  EBIOSS has confirmed that, in respect of waste treatment and disposal projects, the Parties will use EQTEC's gasification technology, subject to successful completion of Urbaser technical due diligence and all parties, including EQTEC, agreeing terms, including the commercial basis of any contract.  EQTEC confirms that it will conduct due diligence on any potential opportunities that are presented to it by the Parties pursuant to the Agreement.

 

Ian Price, CEO of EQTEC plc, commented: "We are pleased to note the Agreement between EBIOSS and Urbaser, and we are encouraged by this statement of intent by the Parties to use our technology and the further validation that this would bring to the Group.

 

Urbaser is a leading integrated waste and resource management company, providing solutions to local authorities, businesses and the general public with strong project experience in the waste to energy space.  We look forward to evaluating each opportunity as and when it arises in order to assess its ability to increase shareholder value."

 

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

 

EQTEC plc

+353 (0) 21 2409 056

Ian Price - Chief Executive Officer

 

Gerry Madden - Finance Director

 

 

 

Strand Hanson - Nomad, Financial Adviser & Broker

+44 (0) 20 7409 3494

James Harris/Richard Tulloch/Jack Botros

 

 

 

IFC Advisory - Financial PR

+44 (0) 20 3934 6630

Tim Metcalfe/Miles Nolan/Zach Cohen

 

 

Notes to Editors

 

About EQTEC

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

 

About Urbaser

Urbaser S.A.U., is based in Spain and has extensive experience in the provision of environmental services both nationally and internationally.  They are the third largest environmental services provider in Europe, providing high profile waste treatment, waste and recycling collection, street cleansing and grounds maintenance services in cities including Barcelona, Madrid, Paris, Porto and London.  Urbaser also operate comparable operations across Asia, North Africa and South America.


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.
 
END
 
 
STRURVORKNAOUAR

EQTEC Plc Timeline

Newswire
January 28 2019

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use