Eqtec Share Discussion Threads

[eye2] 04/2/2020 22:24

Posted by: George Lurie February 4, 2020 - 11:01 am 0 267 Views

NORTH FORK — Project proponents say plans are quickly moving forward and construction of North Fork’s long-anticipated, new 2-megawatt biomass plant should get underway “sometime this spring.”
Project coordinator Greg Stangl, CEO of Phoenix Energy, confirmed this week his team is having meetings with “all the major vendors” in the next few weeks. “At the end of next week, I’ll be in a better position” to provide a more specific construction timetable, Stangl said Tuesday.
Stangl also confirmed plans remain on track for the biomass plant to “be operational in April 2021.”

Crates near biomass plant development site last week (Jan. 30)
North Fork’s new biomass plant will run 24-hours a day, providing electricity to North Fork and the surrounding mountain community via a power purchase agreement North Fork Community Power signed with PG&E.
North Fork Community Power is a joint venture involving private-label power company Phoenix Energy, the North Fork Community Development Council (CDC) and an Irish company called EQTEC, which is providing much of the new plant’s infrastructure — and consulting expertise — for a 19.9-percent stake in the plant.
Once operational, the facility is expected to create more than a dozen new local jobs — and serve as an economic engine to help revitalize North Fork’s Old Mill Site development.

Large pipes at the development site
Millions of dollars in state tax credits attached to the biomass plant project were set to expire at the end of 2019 if plant backers could not sell the tax-exempt bonds necessary to fund construction of the $15 million project. At one point in late 2019, seven different law firms were involved in finalizing details related to orchestrating the complex bond sale, according to Stangl.
The deal to sell the tax-exempt bonds actually closed in the final hours of 2019.
The project, which has been on the drawing board for nearly a decade, actually had a groundbreaking ceremony in 2016.
But then the project seemed to stall, in large part because of the uncertainty created by PG&E’s bankruptcy filing in 2019.
Stangl said this week that he thinks it would be a “great idea to have a ground re-breaking.”

[eye2] 04/2/2020 22:22

hxxps://sierranewsonline.com/15m-biomass-project-shifts-into-high-gear-in-north-fork/

[jfreshfield] 04/2/2020 19:05

Huge potential. Massively under radar. Interview this week t bring volume - shares held back by seller once done this will rerate back to a fair valuation

[sharetalk] 31/1/2020 13:40

Update 31/2/2020



This seems to be new information:

-- North Fork Project design package for tender is nearly complete by EQTEC's engineering team and a project kick-off meeting in the USA with the EPC, Jenbacher and Phoenix has been scheduled for the week commencing 10 February 2020.

In addition, the Group is advancing discussions with regard to a number of ongoing business development initiatives, including:

-- Potential entry into the market in Greece via (i) a strategic partnership for EPC, O&M and business development; and (ii) exclusivity with a developer who has an existing pipeline in the agricultural waste sector.

-- Project partnerships with potential investors in the USA.

-- Collaborations with developers in the UK and Ireland in relation to RDF, anaerobic digestion and waste gasification projects.

-- Collaboration with a large owner and operator of biomass energy, district heating and energy from waste infrastructure, to develop a portfolio of projects together.

[eye2] 30/1/2020 15:23

yes and sell 7 mill

[gottopickapocketortwo] 30/1/2020 13:38

Can sell at 16.85 and buy at 18.4 1M ?

[sharetalk] 29/1/2020 12:48

Quiet today.

[sharetalk] 27/1/2020 15:26

EQT end 2020 share price target 1.631p "some nine times the current price of 0.18p" "conviction buy".


Aligh Research
By Richard Gill
2/1/2020

EQTEC – Shares surge on California project financial close



Shares in waste gasification to energy technology company EQTEC (EQT) have soared to the top of the London gainers after the company confirmed that the North Fork Project in California has reached financial close. The legal documentation which allowed the financial close of the proposed construction and operation of a 2MW biomass plant by North Fork Community Power LLC (NCFP) was signed on New Year’s Eve. On commissioning, expected before the end of Q1 2021, the project is estimated by NFCP to have a valuation of approximately $20 million and be capable of generating annual revenues of c.$4 million.

As a result of the contract signing, the Equipment Sale and Services Contract between EQTEC and NFCP has now been executed, under which EQTEC will invoice €2.2 million for the sale of equipment and the supply of engineering and design services. This comprises of a down-payment of €880,000 on execution, together with certain further agreed milestone payments leading up to commissioning. EQTEC has already invoiced NFCP for the €880,000 down-payment and has received confirmation that payment has been implemented,

In addition, EQTEC’s agreement to acquire a 19.99% interest in NFCP on financial close of the project has also now been completed. As previously discussed, consideration for the investment is being satisfied by the supply of certain items of existing equipment currently held at EQTEC’s Newry site, valued at $2.5 million, with no cash consideration being paid.

Assessment

While being a few months later than originally expected, it is highly encouraging that the North Fork project has now reached financial close. EQTEC has been working together with framework partner Phoenix Energy, a key market player which should bring a lot more business to the company. The funding of North Fork should act as an important milestone to attract funding for the rest of the project pipeline that EQTEC has with Phoenix, with four projects currently under exclusivity.

There are particular attractions in the Californian market, with well documented forest fires increasing the requirement for managing forestry wood waste which can be used in biomass plants to create clean energy. Boding well for additional projects, we note comments from Gregory Stangl, CEO of Phoenix Energy, “Our team can now focus on the next two projects in our pipeline. The second will be self-funded and we have already initiated conversations with our funders for our third Project.”

Following recent share issues we calculate a 1.631p per share EV/EBITDA multiple based end-2020 target price for EQTEC, some nine times the current price of 0.18p. Following the recent positive developments we expect to provide a detailed update note on the company shortly. For now, we maintain our stance of Conviction Buy.

[cmackay] 27/1/2020 15:00

Ah, Ken Chung arrives with his usual brand of bile with no pertinent content whatsoever. Keep saying words, Ken!

[sharetalk] 27/1/2020 13:09

Agenda item 8.A.a Biomass plant update.

[sharetalk] 27/1/2020 08:11

Word is they are already in discussions about a third biomass deployment in California.

[cmackay] 26/1/2020 21:22

That's an interesting point, Peter. Thank you for sharing.

[petersmith6] 26/1/2020 17:52

We have the strange situation where there is more tungsten in a 100 tonne of landfill than a 100 tonne of ore. Now add on copper ..iron and all of sudden the metallic waste left over starts to make mining waste attractive. The direct process is simpler but other options are always a good idea . We could also be seen as a carbon offset country making the uk quite attractive after Brexit

[tewkesbury] 26/1/2020 17:45

Remining old landfill sites is not on the agenda for Eqtec and never likely to be - all the biomass and paper would have turned to a toxic leachate anyway.

Eqtec seems to be focusing on the more straight forward lower hanging fruits of municipal solid waste, biomass and other industry specific wastes like olive pomace and paper mill pulp waste.

They have some interesting projects and tie-ups, and a nice spread of sectors and geographies.

[cmackay] 26/1/2020 16:55

I feel like mining landfill is a secondary income stream at best when considering the additional costs incurred. Surely we are still generating enough waste globally to use as fuel stock?

[petersmith6] 26/1/2020 13:34

There are two options available .. we export our technology or we charge other countries to take their rubbish to make fuel.. heads we win tails we win.And if they can deal with waist that's already in the ground mining landfill for fuel and useful metals would be a viable solution

[lemonhead8] 25/1/2020 11:28

sharetalk can i suggest you add info about the other sites i mentioned to the heading.

[lemonhead8] 24/1/2020 23:09

Don't forget these five systems and as you say a lot more in the pipeline. Time for a rerate.

a) 6 MW GENERATION PLANT WITH INTEGRATED GASIFICATION

6 MWe cogeneration plant with integrated gasification installed in Campo de Criptana (Ciudad Real, Spain).
•Raw material: Merc and other agribusiness waste
•Status: In operation since 2011

b) 1 MW GENERATION PLANT WITH INTEGRATED GASIFICATION

1 MWe generation plant with integrated gasification installed in the municipality of Castiglione d’Orcia (Tuscany, Italy).

c) GASIFICATION PLANT R+D

Gasification plant installed in Badajoz (Spain).
•Raw material: Olive merc
•Status: In operation since 2014.

d) GASIFICATIONPLANT

Gasification plant installed in Epinal (Lorraine, France) for thermal use.
•Raw material: Miscanthus pellets, forestry waste
•Status: In the design and construction stage

e) 5 MW GENERATION PLANT WITH INTEGRATED GASIFICATION

5 MWe generation plant with integrated gasification in the municipality of Stroevo (Bulgaria).

[sharetalk] 24/1/2020 10:43

New bb with a better LT chart to place the price recovery potential into better context.