EQTEC on course to be one-stop-shop for waste-to-energy projects
- EQTEC sets up joint venture in Greece for waste-to-energy projects
- EQTEC continue to deliver on three year strategy, announcing Kibo Energy deal for Billingham plant
Quick facts: EQTEC PLC
Price: 1.18 GBX
Market Cap: £101.05 m
About the company
Sustainable proprietary solutions for two of the world’s greatest challenges: managing rising levels of waste and meeting the growing demand for clean energy.
EQTEC is a clean technology company with proven, proprietary and patented technology for sustainable waste-to-value applications. EQTEC designs and supplies advanced gasification plans and has a higher efficiency product offering that it is modular and scalable from 1MW to 30MW. Commercial plants have been built and are operated using EQTEC’s technology. A key advantage is the versatility of the technology to process over 50 different types of feedstock, including municipal waste, agricultural waste, biomass and plastics. The company's solutions produce a uniquely pure high-quality synthesis gas (syngas), that is capable of being used for the widest applications in the generation of clean energy, hydrogen and biofuels.
How it is doing
The partners have signed a deal to acquire a 1MWe waste-to-energy gasification project in Livadia, mainland Greece, and to secure exclusivity for a second 1MWe project nearby.
"We have long identified Greece and the Aegean region as one with a strong pipeline potential for EQTEC to bring advanced gasification capabilities to more local farming communities,” said EQTEC chief executive David Palumbo.
“With one project currently being constructed and a second in development in Greece already, today we are further delivering on that promise. Both plants are further examples of how we can source and sustainably transform local agriculture waste into a decentralised source of energy supply to local communities."
What management says
EQTEC PLC (AIM:EQT) (AIM:EQT) David Palumbo, chief executive talks to Proactive London's Katie Pilbeam about their deal for Kibo Energy to become a strategic investor in the proposed Billingham waste gasification and power plant in Teesside, UK.
Kibo will acquire a 54.54% equity stake in the Haverton Hill project special purpose vehicle (SPV), with EQTEC to retain 45.46% equity in the SPV and continue to lead the development of the project.
Palumbo believes this partnership with Kibo could evolve and expand into other projects and markets.
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