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EQTEC jumps as largest shareholder agrees to use its gasification technology in joint venture deal

Ian Price, EQTEC’s CEO said: "We are encouraged by this statement of intent by the Parties to use our technology and the further validation that this would bring to the Group”

Waste
“We look forward to evaluating each opportunity as and when it arises in order to assess its ability to increase shareholder value," the CEO added

EQTEC PLC (LON:EQT) revealed that its largest shareholder, EBIOSS Energy SE has signed an exclusive collaboration agreement with Urbaser S.A.U under which they have agreed to use its technology for waste-to-energy gasification projects in Bulgaria, Greece, Macedonia and potentially Romania.

The AIM-listed group confirmed that, while it is not party to the agreement, it will conduct due diligence on any potential opportunities that are presented to it by the parties.

READ: EQTEC jumps as it increases and consolidates loan facility with Altair Group

Ian Price, EQTEC’s CEO said: "We are pleased to note the Agreement between EBIOSS and Urbaser, and we are encouraged by this statement of intent by the Parties to use our technology and the further validation that this would bring to the Group.”

He added: “Urbaser is a leading integrated waste and resource management company, providing solutions to local authorities, businesses and the general public with strong project experience in the waste to energy space. 

“We look forward to evaluating each opportunity as and when it arises in order to assess its ability to increase shareholder value."

In afternoon trading, EQTEC shares were 7.6% higher at 1.14p.

Quick facts: EQTEC PLC

Price: 0.465 GBX

AIM:EQT
Market: AIM
Market Cap: £18.78 m
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