Eqtec Share Discussion Threads

[stevea171] 14/3/2023 07:38

Thanks Skinny. Further Part 2 of today's RNS:

About EQTEC Italia MDC srl

EQTEC Italia MDC srl ("Italia MDC") is a company registered in Italy for the purpose of transforming agricultural and forestry waste into electrical power and biochar in a relatively remote and heaviliy agrarian community. The Company currently owns 19.99% of Italia MDC, with an option to acquire further equity in future.

Italia MDC owns and operates a 1.1 MWe plant in Gallina (the "Plant"), a village near Castiglione d'Orcia in Tuscany's Val d'Orcia, an area considered to be the region's most scenic. It is on a site owned by Toscana Cereali Societa' Cooperativa Agricola, from whom Italia MDC is leasing. With EQTEC technology at its core, the Plant is capable of converting multiple types of biomass feedstock into electrical power and thermal energy.

Initially, the Plant is converting higher-density wood waste into electrical power for export to the national grid, for which a connection has been secured with a preferential tariff. In addition to the electricity, the Plant is producing biochar for purchase by two European wholesalers of the product. Thermal energy produced through the continuous EQTEC thermochemical conversion process is being recycled to dry the feedstock, improving the Plant's waste-to-energy conversion efficiency.

Feedstock is being delivered by multiple, local suppliers, and Italia MDC has identified additional, potential suppliers in order to maintain continuity of supply and leverage over cost and availability. Further, the Plant has been upgraded to support lower-density feedstocks such as straw or other agricultural waste. This ability to switch amongst feedstock types and suppliers adds resilience to Italia MDC's business model.

In addition to being a profitable, commercial-scale facility with an important role in the local, agricultural community, the Plant is a Market Development Centre for the Company, providing a showcase of EQTEC technology for prospective clients including Industrial, Utility, Municipal or other Agricultural clients looking to replicate success with sustainable, waste-to-energy technology. The Company already has a number of prospective clients scheduling time to visit Italia MDC in 2023.

[wapper] 14/3/2023 07:14

Excellent news

[desflurane] 13/3/2023 15:21

😂😂 refers to post 3853

[adi27] 13/3/2023 15:10

RNS 1st April!

[pa123] 13/3/2023 14:59

Give them a chance, it's not April yet!

[juju44] 12/3/2023 11:03

Well if they had it running they would be rushing usual video to boast about it wreathed in smiles . All is not well

[stevea171] 12/3/2023 10:53

As I said in post above:

Dofmeister on LSE today:
"They are still trying to get it up and running properly, waiting on suppliers...."

[stevea171] 09/3/2023 20:08

FC's are to some extent linked to proof of the tech in the Italia MDC.

According to Rolf Italia MDC is producing electricity but he doesn't say how much.
.5 MW instead of 1MW?
Is this what the company is trying to fix and why the company refuses to communicate?

Rolf has given disclosure in the RNS of 24/2 with details and full permission from EQT.
"This plant is now up and running, hooked up to the grid and selling electricity on a pre-determined tariff"

But this continuing silence from EQT is now indicating unresolved issues and leading to even more dissatisfaction.

[skinny] 09/3/2023 16:45

Slightly out of the money now and losing patience!

[juju44] 09/3/2023 16:39

Lack of financial close is why this is going down the toilet . All the rest are in the margin - unless they cant get the damned plant to work

[pa123] 09/3/2023 16:30

"Importantly, several of the Company's projects require only project finance to proceed, with many of them fully permitted, designed and otherwise packaged for financial close."

if it wasn't so dire here, this would be funny.

just some finance required, the important part so the company can move on, and maybe, just maybe the share price can recover.

Problem is, everyone is battening down the hatches, in survival mode. Apart from DP with his big monthly that is...

[stevea171] 09/3/2023 09:44

From Aandi, LSE. Where are we up to? Latest status report:

Lorraine University funded with €4m from EU

Italy now revenue earning with Eqtec due to receive their revenue share first. Also has a refinance value.

Larissa is owned and being built by a third party so technology sales revenue only.

Northfork $11m chapter 11 refinance in place to bring it online. Outstanding money due to Eqtec.

Croatia MDC, key components have been manufactured. Partially built and funded so likely to advance quickly once Italy MDC COD is officially announced.

BMEC USA has been in the works for ages and total funding package to be announced April.
"In its interim results on 29 September 2022, the Company revealed that development funding had been secured to support concept design work toward application for a large, federal loan to support construction of the plant and that additional term sheets had been received from both equity investors and lenders. The Company understands that the concept design work was completed, and the federal loan application submitted in January 2023 and that a response is expected by early April 2023. Subject to achievement of full funding by Phoenix, the Company is told to expect by May 2023 a contract for detailed design and technology sales."

France MDC, the project site has been purchased. There is nothing too technical about this so most likely Eqtec can carry out engineering/FEED themselves.
Feb 2023 update "Since late 2022, the Company has been making progress with a large infrastructure investor and owner-operator toward acquiring the project and recommissioning the facility. The Company expects live operation of the plant in 2024."

Livadia is 80% funded so once the last 20% is in place we reach financial close and can bill for Development service fees and technology sales.

Of all the other projects, many are incubated for example Deeside initial stage FEED completed so hopefully we get an SPV investor and can earn the £3m we hope to get back prior to financial close.

Eqtec have drastically changed the business model 2H 2022, only spending money on key projects.

From the trading update

"Importantly, several of the Company's projects require only project finance to proceed, with many of them fully permitted, designed and otherwise packaged for financial close."

[juju44] 09/3/2023 08:52

Nervous punters rushing for the exit now .

[gspanner] 07/3/2023 19:56

Invinity had some teething problems with their Oxford hub… Tech there is less complex IMO, so may take some time to perfect the processes

[stevea171] 07/3/2023 10:21

Obviously the start up has not been trouble free and not to plan whatever they say or don't say. Yoel has the experience of previous start ups of Eqtec plants so we are in good hands!

There should be lessons to be learnt for the next plants to be commissioned - Larissa and North Fork. This summer?

[stevea171] 07/3/2023 10:11

ADVFN glitches.

[m4rtinu] 07/3/2023 10:05

TBF it hasn't been announced by Eqtec.

[juju44] 07/3/2023 09:50

Plenty of those around here

[vatnabrekk] 07/3/2023 09:46

We can always rely on juju to take the negative route!