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EQTEC on course to transition to pure play waste-to-value technology provider

Last updated: 08:13 11 Mar 2024 GMT, First published: 16:00 13 Sep 2023 BST

Snapshot

  • EQTEC revises subscription terms with Verde Corporation
  • EQTEC management express optimism on longer-term future of share price
EQTEC

About the company

EQTEC PLC is a global clean technology company with proven, proprietary and patented technology for sustainable waste-to-value applications.

The company's proprietary and patented Advanced Gasification Technology reliably and sustainably converts the widest range of waste products into syngas, which then can be applied to generate the widest range of energy sources at a commercial scale.

How it is doing

11 Mar 2024

EQTEC PLC (AIM:EQT) has issued an update regarding its Subscription process initially detailed in February 2024.

The company has encountered a temporary setback due to funding delays from Verde Corporation.

Verde has notified EQTEC that the funds designated for the subscription form part of a syndicated investment pool linked to another unrelated transaction in the US, that must complete in tandem with the investment into EQTEC.

Despite the delay, Verde has assured EQTEC that the transaction should close imminently.

13 Feb 2024

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.

13 Feb 2024

EQTEC has raised a £500,000 gross through a direct subscription at 2.35p per share by Verde Corporation.

The subscription shares equate to approximately 11.72% of the company's current issued ordinary share capital and were priced at Friday, 9 February's mid-market closing price.

What management says

09 Oct 2023

EQTEC PLC (AIM:EQT) CEO David Palumbo and COO Jeffrey Vander Linden speak to Thomas Warner from Proactive London about the recent downward trajectory of the clean technology company's share price.

Palumbo starts by acknowledging the challenges, emphasising that the entire board and company employees, many of whom are shareholders, feel the impact personally. He highlights that the downturn isn't unique to EQTEC, with many in their sector facing similar challenges. He explains that the company initiated a strategy in September 2021 to transition from high-risk project development to a focus on technology, innovation, and licensing. However, the equity market's downturn in 2022 forced them to adapt quickly with limited capital.

Vander Linden discusses the company's efforts to stabilise revenues, mentioning a shift towards risk-mitigated projects with reliable partners.

EQTEC management express optimism on longer-term future of share price

EQTEC PLC (AIM:EQT) CEO David Palumbo and COO Jeffrey Vander Linden speak to Thomas Warner from Proactive London about the recent downward trajectory of the clean technology company's share price. Palumbo starts by acknowledging the challenges, emphasising that the entire board and company...

on 9/10/23