EQTEC PLC (AIM:EQT) said the current year will see the waste to energy group maintain a strong focus on revenue growth.
In a fourth-quarter trading update, the company confirmed previous guidance of 2021 revenues falling in the range of €8 – 10mln, up from €2.2mln in 2020. Earnings guidance also remains unchanged.
In 2022, EQTEC envisages working with an increasing number of larger partners with qualified delivery track records and, in many cases, multinational market access.
In addition, the company will test and develop more, high-margin feedstock types and extend EQTEC technology into new syngas (synthesis gas) applications such as waste-to-hydrogen, waste-to-SNG (substitute natural gas) and waste-to-biofuels. Together with the broader financial modelling and commercial negotiation capabilities of the company, these additional capabilities co-developed with technology partners will support the definition and market testing of new EQTEC solutions targeted at growing demand in specific markets, the company told investors.
The company’s senior executives will make a live presentation covering the company’s fourth-quarter activities at noon (GMT) on Wednesday, 2 February. Investors may sign up for the event on this link.
"The final quarter of 2021 was busy for us and rewarding as a result. The foundations we set in 2020 and 2021 are now supporting targeted growth: joint ventures in target markets, Market Development Centres and an ecosystem of partners that take over more of the project lifecycle, toward an increasing focus for EQTEC on licensing and innovating our technology," said David Palumbo, the chief executive officer of EQTEC.
"We are active now in seven markets and have opened the door for more as we scale. Despite some challenging market conditions, particularly raw materials shortages, higher prices and increased shipping costs and times, we have delivered over four times revenue growth and find ourselves in a strong position to grow even faster. We will do this across both geographical and solutions markets, driving innovation and better targeting of demand, together with our local and some multinational partners. 2022 will see us commission more plants with more operational availability and prove our case that EQTEC syngas is the future for reliable, carbon-negative, baseload energy and biofuels," he added.