EQTEC inks deal with Greek construction firm to develop waste gasification projects

The company said an MoU will allow it to work together with its German EPC partner ewerGy to deliver projects in the pipeline of construction group Nobilis Pro Energy

EQTEC PLC - EQTEC inks deal with Greek construction firm to develop waste gasification projects

EQTEC PLC (LON:EQT) said that together with its German engineering, procurement and construction (EPC) partner ewerGy it has 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.

READ: EQTEC secures option over land for the Billingham waste gasification and power plant project

EQTEC said the collaboration will be underpinned by a joint venture between the firm and everGy which is expected to source and provide funding and delivery capabilities for any projects provided by the Nobilis pipeline.

More specifically, EQTEC will provide design and the core gasification technology for projects while ewerGy will provide EPC services. The company added that the MoU underlined “growing momentum” behind its collaboration with ewerGy.

"We are pleased to be on track for the development of another advanced gasification plant in Greece. Through our relationship with Nobilis, we expect to develop a pipeline of sustainable waste to energy projects in Greece that will benefit from EQTEC's advanced biomass gasification as a great solution for clean energy generation”, EQTEC chief executive David Palumbo said in a statement.

“The MoU also highlights the growing strength of our partnership with ewerGy, as we pursue a growing pipeline of opportunities in Greece and across the Balkans. This 'strong partner' model is fundamental to EQTEC as we further expand our business development and project delivery reach", the CEO added.

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Price: 1.955 GBX

Market: AIM
Market Cap: £138.69 m

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