EQTEC PLC (AIM:EQT) is in twin discussions over its Deeside waste-to-hydrogen project, with advanced talks to sell the project and to supply gas and electricity to Toyota for their nearby engine plant.
The company said it and partner Logik Developments expect to enter head-of-terms over a sale of the Deeside project this month.
Talks with Toyota Motor (NYSE:TM) Manufacturing are also said to be at an advanced stage on a supply deal, having also received an updated head of terms for gas and power offtake from TotalEnergies with new tariffs which “significantly improve” the project economics.
EQTEC said discussions with shortlisted technology partners are also ongoing for a system that would convert the syngas produced from waste into hydrogen.
The company said it proposes to issue 20.1mln new shares to certain strategic service providers providing business development and advisory services to the group in satisfaction of fees due to them, for which dealings are expected to begin on 6 September.
Deeside is one of three waste-to-energy/fuel projects that the group is developing in the UK, including at Billingham in Teesside and Southport in Merseyside.