EQTEC PLC (AIM:EQT) has signed a collaboration framework deal with a company in Ireland to develop waste-to-biofuel projects, with four potential projects identified already.
The AIM-listed company and Domi Ost Ltd, an Irish development and project management company, together aim to design and develop projects in Ireland that deploy EQTEC synthesis gas technology for conversion of forestry, agricultural, industrial, municipal or other waste into renewable natural gas, hydrogen, ethanol or methanol.
Of the four possible projects identified, on one of them the pair have already engaged with a prospective client.
EQTEC said it will update the market as projects under review are qualified and managed through the pipeline.
Domi Ost’s role will be to “incubate and shape demand” in Ireland and potentially other markets, manage stakeholders and drive project implementation, as well as sourcing and contract key parties for investment and delivery of projects.
EQTEC, which under the agreement is envisioned to make “no investment of either capital or unpaid resources” into any mutual projects targeted, will focus on engineering and core technology integration and licensing.
The pair also picture working with other third parties for syngas-to-molecule applications, as well as for the construction of new energy plants.
Domi Ost’s director Kieran Gaughan is said to bring experience shaping and managing petrochemical and renewable energy projects in Ireland and overseas.
“Ireland is really just getting started with advanced energy applications such as those made possible by syngas-based solutions. We at Domi Ost have always been passionate about bringing advanced biofuel production to Ireland, as well as to other European markets and the UK, so a collaboration with EQTEC is a natural choice for us in making that possible,” Gaughan said in a statement.
“Although syngas-based applications are not a one-size-fits-all solution for Ireland or anywhere else, they offer true potential for baseload energy and therefore for replacing fossil fuels. Given our commitment and the Irish government's commitment to decarbonisation of the national grid, the syngas approach makes a lot of sense," he added.