Clean energy infrastructure group EQTEC PLC (AIM:EQT) has confirmed that it has completed handover protocols and transfer of plant operations at its Italy Market Development Centre to subsidiary EQTEC Italia MDC.
The handover follows Eqtec’s March announcement that the Italia MDC was operational, having commenced export of electricity to the national power grid this March and having produced biochar and commenced gasification in January.
The Italia MDC is the first of EQTEC's MDCs to be operational.
Additionally, Italia MDC is pursuing refinance of the plant asset by an Italian bank, which is expected to complete this summer.
David Palumbo, chief executive of EQTEC, commented: "We are pleased to see the operating company now fully in charge of our first MDC.
“We have already made good use of the MDC for a range of site visits including with prospective clients and investors and foresee many further visits well into the future. It is very rewarding to see EQTEC technology at the heart of a successful plant operation, supporting the local community.
“As we move on to operate successive MDCs and other plants, we anticipate seeing EQTEC at the heart of baseload energy solutions for Agricultural, Municipal, Industrial and Utility clients across Europe and around the world."