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EQTEC on course to be one-stop-shop for waste-to-energy projects

Snapshot

  • Focuses on waste-to-energy projects
  • Commercial developments include equipment sale and services deal for Greece's first waste gasification proejct
  • Demand for technology and services “remains strong”
EQTEC

Quick facts: EQTEC PLC

Price: 1.53 GBX

AIM:EQT
Market: AIM
Market Cap: £108.54 m
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Our mission is to help the world reduce waste and generate green energy. Our greatest contribution to that mission is producing the world's purest syngas for the widest variety of applications

David Palumbo, chief executiive

 

What the company does

EQTEC PLC (LON:EQT) has developed the EQTEC Gasifier Technology, or EGT, which turns household waste into electrical and thermal energy.

The business model is simple: source waste-to-energy projects and sell the developers an EGT along with an ongoing contract for operation and maintenance of the project.

The company has been targeting power generation systems fed by municipal waste, waste olive oil and biomass. The aim ultimately is to become a ‘one-stop-shop’ for the technology, design, the build and the operation and management of these projects.

How it is doing

EQTEC PLC’s (LON:EQT) cleantech proposition continues to go from strength to strength, and it is driving higher levels of awareness among investors and awareness among potential customers.

In January, the company received local council approval for a 25MWe waste-to-gas plant at Billingham, Teeside.

The resolution from Stockton-on-Tees Borough Council is for a revised scheme that EQTEC said both improves the economics of the project and reduces the size of the footprint of the plant.

EQTEC signed an option to acquire the land at the Haverton Hill site in December.

Earlier in the month, along with German engineering, procurement and construction (EPC) partner ewerGy, it signed a memorandum of understanding (MoU) with Greek construction group Nobilis Pro Energy which provides for the collaborative development of the firm’s pipeline of opportunities in the country.

The energy-from-waste technology firm said the MoU will allow the firms to work together to deliver advanced gasification projects in the Nobilis pipeline, starting with a 0.9 megawatt electric (MWe) gasification plant in the town of Almyros. 

Inflexion points

  • Spending the £10mln in funding raised recently
  • More deals for the company's technology across the world
  • Increased demand for technology as waste-to-energy market expands

Interview

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