leadf
logo-loader
viewEQTEC PLC

EQTEC brings in partners to accelerate roll-out of its technology

Wood, an industry-leading consultant, will help to accelerate the extension of EQTEC's advanced gasification technology to waste-to-energy projects across the globe

EQTEC PLC -

EQTEC PLC (LON:EQT) has revealed that its gasification technology is to be independently reviewed by engineering and consultancy company Wood Group UK.

The main focus will be on the AIM-listed waste-to-energy specialist’s 6MW (megawatt) power plant in Movialsa, Spain, and its application to a wide range of mixed waste fuels.

In conjunction with this, Wood will also be completing a market review, assessing the potential for the effective market penetration of EQTEC's waste gasification technology solutions considering waste type, availability, regional policies and regulations and capital cost comparisons.

These two reviews are expected to be completed by the end of the year.

Meanwhile, EQTEC said it has signed non-binding heads of terms with Wood and small & medium companies backer Deltasource (Middle East Branch) on a collaboration to help ensure the effective deployment of EQTEC technology into the global energy-to-waste sector.

Wood will bring “a long-standing waste-to-energy capability” and expertise to the party while the team at Deltasource is well-versed in the elements that affect the commercial, funding and execution ability of green energy project developments; Deltasource is also expected to provide an efficient channel for Middle East project opportunities and local partnerships through one of its local associated companies.

“Through partnerships like these, EQTEC would be efficiently leveraging one of the largest and most respected global engineering players to improve significantly the knowledge and exposure of EQTEC's technology to international businesses and accelerate the global growth of its short and longer term pipeline of opportunities,” said David Palumbo, the chief executive officer of EQTEC in a statement.

Carl Sykes, the energy transition director for Deltasource (Middle East Branch), said the award of the review gig to Wood “is the first step in an intended collaboration process that is expected to move significantly the dial with respect to the conversion of potential projects to profitable energy-to-waste assets in an environmentally friendly way.”

“As specialist investors in and advisors to the natural resource and energy sectors, we are highly sensitive to the various factors that underpin an investable project, a robust plan, a predicable execution and safe, low carbon, sustainable and profitable asset operation. We will also bring intimate knowledge of the Middle East landscape and local energy market dynamics," Sykes added.

Quick facts: EQTEC PLC

Price: 0.545 GBX

AIM:EQT
Market: AIM
Market Cap: £37.43 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

Market Report: FTSE jumps on AstraZeneca COVID-19 vaccine trial and easing...

FTSE 100 rallied in early trading on AstraZeneca’s COVID-19 vaccine trial and the easing of lockdown restrictions from December. London’s blue-chip index rose 20 to 6,371. AstraZeneca PLC (LON:AZN) announced that the coronavirus (COVID-19) vaccine it has developed with Oxford University was...

1 day, 16 hours ago

2 min read