EQTEC PLC (AIM:EQT) said its newly-announced collaboration agreement with Tresca Energía SA, a Spanish engineering and project management group, will kick off with a renewable natural gas (RNG) project in Castilla y León.
Currently in its feasibility phase, the operation, once built, aims to transform approximately 50,000 tonnes of biomass per year into RNG.
Notably, the project has attracted interest from a major Spanish bank for funding, alongside offtake terms from a prominent gas grid operator.
Under this agreement, EQTEC and Tresca will jointly develop and qualify pipeline opportunities, combining EQTEC's advanced technology and engineering prowess with Tresca's expertise in renewable energy project development.
The focus of these projects will be on RNG or methanol generation from synthesis gas (syngas), produced through EQTEC's patented and proprietary technology.
Tresca, with two decades of managing infrastructure projects across over 30 countries, brings a wealth of knowledge in sectors such as energy, hydrogen technology and chemistry.
EQTEC views this partnership with Tresca as a strategic move to strengthen its market presence in Spain and other regions where there is a rising demand for professional development and project management in the renewable energy sector, particularly in syngas-based solutions.
This collaboration aligns with the increasing global focus on sustainable and renewable energy solutions. It represents a significant step in EQTEC's strategy to expand its global footprint in the renewable energy sector, leveraging Tresca's extensive experience and geographical reach.
"We have already noted that our go-to-market focus will increasingly shift from geography per se, toward strong, capable partners able to mobilise funding and apply professional disciplines for stable, steady progress with projects integrating EQTEC technology," said chief executive David Palumbo.
"We see Tresca as another such partner, with its long track record of successful and steady growth across a number of sectors in a number of geographies."