EQTEC PLC (AIM:EQT), a clean energy technology company, has received £2 million as part of a settlement with Logik Developments.
As previously announced, EQTEC will use £500,000 to pay down part of a loan from YA II PN Ltd and Riverfort Global Opportunities.
The loan, set to mature in May 2026, was intended to help reduce short-term liabilities and focus on immediate working capital needs
EQTEC said it will use the remaining funds will be used for general business operations and to support the company’s ongoing strategy.