Shares in EQTEC PLC (AIM:EQT) rose 10% in early trading following the announcement of a successful feasibility study for a waste-to-renewable natural gas (RNG) facility at the former Gardanne power station in France.
The green-tech group, in collaboration with French consultants S3D Ingénierie, concluded that the facility would be optimal for sustainable RNG production, processing around 80,000 tonnes of industrial waste wood per year.
The project has garnered strong support from the French government, which has encouraged EQTEC to apply for special feed-in tariffs and grants.
The company expects to commence initial engineering work in the coming weeks, with fees estimated at €250,000. Further design work could potentially generate at least €750,000 in fees.
At 8.21 am, the stock was changing hands for 0.063p, up 0.0055p.