Eqtec Share Discussion Threads

[gspanner] 15/6/2020 12:32

yes but odd trading, if to be believed only approx. 500k shares traded in last half hour... No on willing to buy or sell?

[skinny] 15/6/2020 12:00

Well that's a new 12 month high @0.595.

[neilyb675] 15/6/2020 09:57

screenshot it

[wilsonst1] 15/6/2020 09:49

Hi. I can get into web site to see note but can't download. You got a copy?

[sharetalk] 15/6/2020 09:49

Any chance of posting the whole Arden note or a direct link.

[gspanner] 15/6/2020 09:29

Just reading the Arden note...

Interesting stress on the operational warranties that are offered which gives reassurance to equity and debt parties;

And highest operational efficiency from waste to energy tech from commercial company, plants do not need subsidies offering IRR of 12-14%.

In a world of chasing yield with Palumbo’s VC background it seems pretty obvious to me financing will not be difficult.

[sharetalk] 15/6/2020 08:07

Align Research
@AlignResearch
Solid results out from Eqtec #EQT this morn underlining material progress under David Palumbo's stewardship -
Full blog update to come from us

[sharetalk] 15/6/2020 08:00

WILSONST1
15 Jun '20 - 07:16 - 1045 of 1048 Moderate

EQTEC* - Tipping point: Proven, revenue generating, now scaling

Date: 15 Jun 2020 07:01
Author: Nick Walker
Publication: Company Long Form Note
We initiate coverage on EQTEC with a BUY rating and target price of 2.18p. We believe that near-term step-changes in forecasted profitability, derived from a pipeline of projects currently under development and construction, coupled with existing multi-project Framework Agreements, comfortably justi...
Price: 0.54p
Target Price: 2.18p
Rec: Buy

[m4rtinu] 15/6/2020 07:37

Trying to be positive. Rev for Q1 2020 is more than whole of FY 2019. Cost of sales reduced. So a +ve GP. Hopefully more deals to be converted. Interesting to see what market makes of results. MU.

[skinny] 15/6/2020 07:26

.

Operational and commercial highlights

· Business strategy updated and refined in the year to focus on three key verticals: agri-food and industrial waste streams; recovery of clean energy from biomass; and municipal waste streams.

· Non-contracted tender opportunity pipeline increased four-fold, to over €130 million, between September and December 2019 (FY2018: €30 million), illustrating the impact of the refocus on key verticals and the portfolio strategic partnership approach.

· Framework agreement signed with Phoenix Biomass Energy Inc. to jointly develop biomass gasification power projects in the US, with five projects already under exclusivity, including North Fork and NAPA.

· Acquired a 19.99% ownership of North Fork Community Power LLC ("NFCP") which is developing a 2MW biomass project in North Fork, California for a consideration of US$2.5 million satisfied by the supply of certain items of the existing equipment previously held at EQTEC's Newry site.

· Equipment Sale and Services Contract signed with NFCP, with a sales value of €2.2 million to EQTEC, payable in stages according to a schedule of certain agreed milestones. Post year end, achieved financial close in January 2020 and invoiced and received a first payment of €880,000 and a second payment, in May 2020, of €770,000. EQTEC equipment is expected to be onsite for installation in Q4 2020, with further milestone payment expected in H2 2020.

· NAPA Project SPV relocated to an adjacent site to accommodate a larger 2MW capacity power plant, with planning having already been resubmitted in July 2019. The client is still awaiting amendment of planning permits and construction and installation is intended to start immediately after receipt of the permits.

· Conditional MOU signed with COBRA Instalaciones Y Servicios and Scott Bros. Enterprises Limited to jointly develop the proposed 25MW Billingham Energy waste gasification and power plant ("Billingham"). Subsequently agreed an extension to the MOU and opened discussions with potential co-developers and funders. EQTEC instructed and paid the grid operator to provide a full quotation for the grid connection and initiated technical due diligence with funders and insurance providers.

· Completed c.€155,000 Transports Metropolitans de Barcelona maintenance contract and increased proactive business development activities in this area, leading to a developing pipeline of potential new business for the Group, including further upgrade and maintenance contracts in Spain.

· Exclusivity Agreement signed for the proposed 1.18MW Biomasse31 Project in France.

· David Palumbo and Dr. Yoel Aleman appointed to the Board in August 2019, with David Palumbo taking over the role of CEO in September 2019.



Financial highlights

· Revenues of €1.6 million (2018: €2.2 million).

· Loss for the period including one-off items €3.6 million (2018: €8.2 million).

· Net assets €15.5 million (2018: €11.9 million).

· Agreed to restructure, in aggregate, £2.7 million of its existing debt through a debt for equity swap, resulting in a significant reduction in the Group's debt obligations.

· Two equity fundraises amounting in total to £1,780,500 with new and existing shareholders, together with the issue of new ordinary shares to certain service providers to settle amounts owed, at an agreed price of twice the equity subscription price, thereby strengthening the balance sheet.

· Overall, the Group's gearing remains low, with an improved debt-to-equity ratio of 13% (2018: 38%).

· Implemented a series of cash cost reduction initiatives. In addition, in order to further align senior management interests with shareholders, the executive management team in total agreed to take shares in lieu of 40% of their cash remuneration, until 30 June 2020. Non-Executive Chairman, Ian Pearson, also agreed to a 40% reduction in fees whilst Non-Executive Director, Thomas Quigley, agreed to take shares in lieu of his entire cash remuneration until 30 June 2020.



Post period highlights

· Contracted Q1 2020 revenues already €2.35 million (FY2019: €1.6 million).

· Received £212,500 from the exercise of warrants which were issued to subscribers of the equity placing announced by the Company on 2 December 2019 with an exercise price at a 100% premium to the then subscription price of 0.125p.

· Completed the sale of certain equipment to Movialsa for €300,000 and agreed a collaboration to use its 6MW plant in Spain, which utilises the Group's proprietary gasification technology, as a showcase for the Group's technology, with over 111,000 hours of expected operational availability successfully achieved and externally audited.

· Entered into a MOU with German EPC company, ewerGy GmbH ("ewerGy") (which will operate in Greece via its local partner, Eco Hellas SA), together with Greece based promoter and project developer, Agrigas Energy SA for the development of first advanced gasification plant in Greece.

· Signed a Collaboration Framework Agreement with ewerGy covering the key terms of proposed cooperation for the development of a portfolio of projects in Greece and the Balkan Region with 11 projects identified and under review.

· Awarded a contract for the upgrade of the existing syngas research and development facility at the University of Extremadura in Badajoz, Spain, to test the production of biofuels from syngas using a Fisher-Tropsch process and unit.

· Approval for RDF testing at the University of Lorraine plant in France. Discussions ongoing with a number of stakeholders to create a consortium to carry out a testing programme of UK RDF at the plant.

· Established an Employee Incentive Warrant Pool for all employees which will be used to further incentivise performance and align the interests of employees with those of shareholders.

· Agreed a reprofiling of existing debt plus interest of €2.6 million due to mature on 31 July 2020 to a new maturity on 30 June 2021.

· Agreed an extension for Billingham MOU and opened discussions with potential co-developers and funders. EQTEC has received from Northern Powergrid a full quotation for the grid connection.

more.....

[tenapen] 15/6/2020 07:22

lol.

Next year never comes !

[wilsonst1] 15/6/2020 07:17

Note from Arden.

[wilsonst1] 15/6/2020 07:16

EQTEC* - Tipping point: Proven, revenue generating, now scalingDate: 15 Jun 2020 07:01Author: Nick WalkerPublication: Company Long Form NoteWe initiate coverage on EQTEC with a BUY rating and target price of 2.18p. We believe that near-term step-changes in forecasted profitability, derived from a pipeline of projects currently under development and construction, coupled with existing multi-project Framework Agreements, comfortably justi...Price: 0.54pTarget Price: 2.18pRec: Buy

[tell sid] 15/6/2020 07:03

EQT 30p+ again soon.

[tell sid] 15/6/2020 07:01

EQT are predicted to be in profit next year or sooner with some of the projects recently announced.

[tenapen] 15/6/2020 06:46

Altair Loan Facility



As announced by the Company on 28 June 2019, the Company and Altair agreed to amend and restate the secured loan facility between the parties (the "Altair Loan Facility"). As at the close of business on 31 May 2020, the outstanding principal under the Altair Loan Facility was £860,000 and there was £96,370 of accrued and unpaid interest. Interest accrued on the principal amount of the loan at a rate of 12.5 per cent. per annum. The outstanding principal and accrued interest were due to be repaid to Altair on 31 July 2020 and the Company was also required to pay Altair a redemption fee of 8 per cent. on the sum due for payment (the "AltairRedemption Fee"). Altair had a right, at its sole discretion, to convert the outstanding principal and interest , in part or in full, at any time up to 31 July 2020 into new ordinary shares of €0.001 each in the capital of the Company ("Ordinary Shares") at a price of 0.66 pence per share. The Altair Redemption Fee is not payable on any debt converted in this manner. However, Altair can only elect to convert if such exercise would not trigger an obligation under Rule 9 of the Irish Takeover Rules to make a general offer for the balance of issued shares in the capital of the Company.



On 1 June 2020, the Company and Altair entered into a deed of amendment (the "Altair Deed of Amendment"), pursuant to which the parties have amended the Altair Loan Facility as follows:



· The outstanding principal and interest of £956,370 has been consolidated into a new principal amount (the "Altair Loan").

· As of 1 June 2020, interest accrues on the Altair Loan at a rate of 10 per cent. per annum rather than 12.5 per cent. per annum.

· The repayment date of the Altair Loan has been extended from 31 July 2020 to 30 June 2021.

· In the event of the conversion of the Altair Loan, the conversion price shall be the higher of: (i) 0.375 pence per new Ordinary Share; and (ii) a 10 per cent. discount to the volume weighted average price of the Ordinary Shares on AIM ("VWAP") for the ten trading days immediately preceding the delivery of a conversion notice.

· Any shares issued as product of the conversion of the Altair Loan will be subject to a lock-in until 30 June 2021.

· A reprofiling fee of £95,637 (being 10 per cent. of the Altair Loan as at 31 May 2020) shall also be paid by the Company to Altair on the maturity date of the loan. This is in addition to the existing Altair Redemption Fee.



Save to the extent amended by the Altair Deed of Amendment, the Altair Loan Facility remains on the terms previously announced, with a balance of £1,083,882 available for draw down by the Company and will remain secured by mortgage debentures, cross guarantees and share pledges over EQTEC and its subsidiary companies.

[tenapen] 15/6/2020 06:20

Tell Sid
14 Jun '20 - 19:54 - 13287 of 13288

Perhaps it's because Eqtec is the better company, with proven technology, real revenues and a growing order book.



tenapen
15 Jun '20 - 06:19 - 13288 of 13288 Edit

BUT NO MONEY TO PAY FOR THE MOU's ON THE TABLE.

Perhaps that is why the eqt bod are paying for Align to write a positive research note and paying for posters on advfn & l s e to infect other boards. Ramp the price up for a big fund raising. You have paid down one loan last week !. With no money to pay the second loan company, eqt have delayed one year but on what terms !. As it stands the second loan company (i can't be bothered looking for the name) could not exercise the options without going over 30% and breaking the Irish rule 9, and have to make a bid.


eqt produce brown syngas like Biffa. Powerhouse produce GREEN syngas, the valuable stuff.



The future is carbon and waste free.

The future is Powerhouse Energy.

[crosschris] 14/6/2020 19:33

Stolen from LSE:

"On the whole, very informative, professional & user friendly. Far better than before, some company observations:

1. Ian Pearson - Chairman

Ex MP, previous Minister of state for Climate Change & the environment amongst other prestigious positions.

Currently 1 of 12 directors of Thames Water, who have just put out to tender a £70m biogas project.

Surely, with the kind of links Pearson has in Westminster, EQTEC must be getting proposed as a W2E solution. I wonder if anything has happened behind the scenes on this, would love to know. Also, can our tech be used for Thames Water? If so surely we will at least be able to tender for this?

2. A subsidiary I haven’t come across before is listed, EQTEC Strategic Project Finance LTD.

3. We also have a third office now listed, in London

4. The pilot plants at the universities will soon also test gas to liquid processes for the creation of biofuels.

5. Clearly defined strategy, any investors looking at how revenues will be generated look no further.

6. First time I've officially seen a link for out tech as a solution to Californias Forrest fires. Hopefully North Fork can be the catalyst for much more here.

7. Mentions hydrogen fuel cells for electric cars the first time as a potential future revenue source as well as biofuels.

8. Highlights company as Green Economy Issuer. Opens up to Impact Investors. How can they attract investment from Impact Funds? Can anyone help? Is there a minimum MCAP requirement?

That's just a quick snippet, loads more.

Night & day difference than before. Yet again more hard work from the team that makes us far more attractive at this critical point"

[tenapen] 14/6/2020 17:46

Yes strange times !.

The basher's are trying Thier hardest to put a negative spin on the W2T deal, phe haven't released details of yet, lol.

While eqt rampers are trying Thier hardest to link thier incinerator company with the future tech powerhouse are developing.

The future is carbon and waste free.

The future is Powerhouse Energy.

:-)

[hiddendepths] 14/6/2020 17:09

Agreed about the website. I'm getting more and more of a warm glow about this company. The more I discover, the more bullish I get.After years in the doldrums, it's all coming together and EQT is clearly well-positioned. It is in the right place at the right time with offerings which will have a large and growing appeal.We ain't seen nuthin yet. ?

[crosschris] 14/6/2020 15:31

Nice new website to go with the resurgence of this company. All starting to take shape!

[gottopickapocketortwo] 14/6/2020 09:21

Portugal: 'Europe's dumping ground' suspends waste imports over landfill concerns

[wilsonst1] 13/6/2020 10:34

https://www.insidesources.com/new-report-biomass-a-big-winner-in-fight-to-reduce-carbon-emissions/