EQTEC PLC (AIM:EQT) has been awarded a front-end engineering design (FEED) contract for its waste-to-energy technology marketing centre in France by new owner and partner Idex Services.
Under the FEED contract, work is expected to start immediately and be completed by December 2023 with EQTEC to receive around €440,000.
The FEED will provide Idex with all technical information essential to the achievement of a final investment decision (FID) toward retrofit and construction at the France Market Development Centre (MDC).
EQTEC sold 95% of the MDC to Idex in July for payments of €3 million plus a further €15 million for services and equipment during construction once there is a decision to go ahead.
David Palumbo, EQTEC chief executive, said: "We are pleased to be working with Idex on this second project together, which is of particular importance to us as our France MDC.
“We appreciate the impetus Idex has shown through its agreement of an ambitious schedule toward completion of design and progression toward construction start by early 2024.
“This third MDC for EQTEC and second project in partnership with Idex together indicate growing demand.”