logo-loader
Energy
viewEQTEC PLC

EQTEC updates on collaborative growth strategy

"We feel very positive about the current position of EQTEC and its ability to execute its strategy.”

green energy
The waste-to-power group is advancing a number of opportunities

EQTEC Plc (LON:EQT) has provided an update on its business strategy, which seeks to make partnerships for the development of waste gasification applications in targeted industry verticals.

It is targeting power generation systems fed by municipal waste, waste olive oil, and biomass.

Though a collaborative approach the company believes it will mitigate technology and project execution risks. The aim is to become a ‘one-stop-shop’ for  technology, engineering design, EPC, O&M and project funding to developers and owners of waste to energy ventures.

READ: EQTEC shares soar on Durham waste-to-energy agreement

"We feel very positive about the current position of EQTEC and its ability to execute its strategy,” said Ian Price, EQTEC chief executive.

“The board believes that working with a select group of strategic partners, with track record and success in their markets, will enable us to create and coordinate the ecosystem required to develop successful projects with proven counterparties. 

“We continue to expand our pipeline and through this approach, to have a much greater influence on all aspects of such projects from design to operations.”

Municipal waste

In the municipal waste and refuse business EQTEQ is partnered with China Energy Engineering Corporation and COBRA Instalaciones Y Servicios.

At the Billingham project the company and COBRA are partnered with Scott Bros Enterprises for a proposed 25 megawatt power plant.

Once operational, Billingham will process some 200,000 metric tonnes of refuse derived fuel - made from municipal waste – per year. The project is expected to be worth between £150mln and £180mln.

EQTEC and COBRA are continuing efforts to deliver other similar opportunities in the UK.

Oil pomace waste

The company is in talks with a ‘major Spanish business group’ over a possible opportunity that will aim to elimination of olive pomace waste in the Mediterranean area.

EQTEC has history in this area, having deployed its technology in 2011 and generating operational data over some 90,000 hours.

Via a new partnership, the company believes it will be able to rapidly expand its presence in the market.

Biomass

The company’s proprietary gasification technology was selected by Phoenix Energy for two biomass power plants in California.

Designs for the first plant has already been completed, and, it is presently in talks with Phoenix over a potential deeper collaboration.

Quick facts: EQTEC PLC

Price: 0.14 GBX

AIM:EQT
Market: AIM
Market Cap: £4.47 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of EQTEC PLC named herein, including the promotion by the Company of EQTEC PLC in any Content on the Site, the Company receives from said issuer...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

EQTEC signs framework agreement with California-based Phoenix Biomass Energy

EQTEC Plc's (LON:EQT) Ian Price adds some detail to the agreement announced today with California-based firm Phoenix Biomass Energy to develop biomass gasification power plants in the US. The companies have already identified five projects in the US. EQTEC will provide its proprietary...

on 22/5/19

2 min read