EQTEC climbed more than 10% as the waste-to-energy specialist announced a new strategic investor, Verde, is coming on board.
Verde is putting in £500,000 for a near 10% stake, but in what seems like a cleaning up of the balance sheet two bondholders are converting £3m into equity while standby facility lenders YA and Riverfort look to be exiting.
Verde currently has holdings in companies within the sectors of new energy and biofuels, including infrastructure, industrial technology and storage, EQTEC said.
The strategy is to acquire equity positions and work closely with the management, in businesses with strong synergies.
Shares in EQTEC rose 0.25p to 2.65p.