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EQTEC making headway with its recently refined strategy

The company is establishing a close group of strategic partners to work with, which spans operators and developers, through to contractors and capital providers.

EQTEC PLC -

EQTEC PLC (LON:EQT) highlighted significant progress with its recently refined strategy under its new chief executive, David Palumbo, over the last four months.

The technology solutions provider for waste gasification to energy projects has continued its focus on three key verticals, namely the recovery of clean energy from biomass; the elimination of waste streams in the agri-food and industrial sectors; and elimination of municipal solid waste and refuse-derived fuel waste streams.

READ EQTEC primed to become one-stop-shop for waste-to-energy projects

In addition to the announcements made over the last few months, the company has been advancing discussions concerning a number of business development initiatives.

The company said it is exploring the potential entry into the market in Greece, via a strategic partnership for engineering, procurement and construction work, operations and maintenance activities and business development opportunities. EQTEC is also talking about an exclusive arrangement with a developer in Greece that has an existing pipeline in the agricultural waste sector.

The company is also discussing project partnerships with potential investors in the USA while closer to home EQTEC is eyeing collaborations with developers in the UK and Ireland in relation to refuse-derived fuel, anaerobic digestion and waste gasification projects.

Lastly, EQTEC highlighted it is talking with a large owner and operator of biomass energy, district heating and energy from waste infrastructure, to develop a portfolio of projects together.

"Since being appointed as CEO in September 2019 I am very pleased with the progress that EQTEC has made,” said David Palumbo.

“As we move forward in 2020, we will focus on executing our strategy with special emphasis in seeking strategic partnerships to develop a portfolio approach inside our core markets. We are already in advanced discussions with a number of potential partners that could bring not only projects but also local capabilities.

“I believe EQTEC is now well-positioned to execute on its clearly defined strategy and I look forward to providing further updates as our projects progress and we enter into new ones," he added.

Quick facts: EQTEC PLC

Price: 0.475 GBX

AIM:EQT
Market: AIM
Market Cap: £32.63 m
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