EQTEC PLC Collaboration Framework Agreement in the USA

RNS Number : 8974K

EQTEC PLC

05 November 2024

 

5 November 2024

EQTEC plc

("EQTEC", the "Company" or the "Group")

 

Collaboration Framework Agreement in the USA with Simonpietri Enterprises LLC

 

EQTEC plc (AIM:EQT), a leading licensor and innovator of syngas technology for clean conversion of the world's waste into sustainable energy and biofuels, to power the circular economy, is pleased to announce that it has entered into a Collaboration Framework Agreement (the "CFA") with Simonpietri Enterprises LLC ("SEL"), a Hawaii-based developer of innovative project solutions to re-use and recycle waste into sustainable products that reduce lifecycle greenhouse gas emissions for the agriculture, energy, and transportation sectors.

The purpose of the partnership is to jointly develop advanced waste-to-value projects to be owned and operated by SEL, that will deliver both environmental and economic benefits. By combining SEL's deep expertise in project development, community engagement, and local market knowledge with EQTEC's proven syngas technology, the collaboration aims to address critical waste management challenges while producing clean, renewable energy and fuels. The partnership is expected to benefit both companies by expanding their market presence, driving innovation, and creating new opportunities for intellectual property development. In addition, the collaboration will have a significant positive impact on the sector by demonstrating the viability of modular and localised, waste-to-Renewable Natural Gas ("RNG") and Combined Heat and Power ("CHP") solutions in the U.S. market, particularly in the Pacific and Northwest regions. 

 

Summary of Projects being pursued under the CFA:

·    Aloha Sustainable Materials Recycling and Fertilizer Facility (Aloha SMRFF) in Kapolei, Hawaii: 2 tonnes per hour system, targeting the transformation of 50,000 tonnes of construction, demolition, and landscaping debris per year into energy to power an organic fertilizer manufacturing plant. Stage: Front-End Loading ("FEL") 3 Front-End Engineering Design (FEED) completed, site secured, and Environmental Assessment completing public comment period with 100% comments to date in support of the project. EQTEC started FEL 3 (FEED) work in September 2024 for a value of €380,000 with an expected delivery program of 4 months with the majority of the revenues expected in 2024. 

 

·     Aloha Carbon Honolulu RNG in Kapolei, Hawaii: Size: 20 tonnes per hour system, capable of processing 350,000 tonnes of waste per year into RNG.  Stage: FEL-2 design completed, site secured. EQTEC submitted a FEL3 (FEED) proposal valued at c. €1.0 million with a delivery programme of 5 months and is awaiting feedback.

 

·     Aloha Carbon Tacoma RNG (Tacoma, Washington): Size: 20 tonnes per hour system, designed to handle up to 350,000 tonnes of waste annually. Stage: FEL-0, site and feedstock and offtake identified.

 

Joelle Simonpietri, CEO of Simonpietri Enterprises, commented:

 

"We were fortunate to be able to spend two weeks of due diligence in Europe with EQTEC's team that included a number of technical sessions in Barcelona, a visit to the Movialsa plant in Spain, a visit to the Agrigas plant in Larissa, Greece, and a testing programme at the LERMAB R&D facility in France. We were able to observe gasification operations on difficult agricultural wastes like high-silica straw, as well as industrial waste such as mixed post-consumer plastic waste. I am highly impressed by EQTEC's technology and the professionalism, experience and capabilities of their team. This collaboration marks a significant milestone for SEL as we work to address critical energy and waste management challenges in Hawaii and the U.S. Pacific Northwest. EQTEC's advanced gasification technology is a great fit for our projects, and we are confident that together we will deliver innovative, impactful solutions. By integrating EQTEC's proven technology with our project development expertise, we will unlock new possibilities for waste valorisation and renewable fuel and recycled-material products manufacturing."

 

David Palumbo, CEO of EQTEC, commented:

 

"We are delighted to formalise our partnership with Simonpietri Enterprises, a company that shares our vision for the energy transition. We were particularly impressed with the extensive expertise of the SEL team, not only in the commercial development of these projects but also in their deep level of community engagement. They have demonstrated a real commitment to bringing to life projects that will make a lasting difference to local communities. In addition, SEL's team has significant technical expertise, including know-how and intellectual property in areas of the plants that are highly complementary to EQTEC's technology. We are excited about the potential to develop new know-how and IP together as we collaborate on these innovative waste-to-energy solutions."

 

ENQUIRIES  

  

EQTEC plc  David Palumbo	[phone]
Strand Hanson - Nomad & Financial Adviser  James Harris / Richard Johnson	[phone]
Shard Capital Partners LLP - Broker  Damon Heath / Isabella Pierre	[phone]
Fortified Securities - Broker   Guy Wheatley	[phone]
Global Investment Strategy UK Ltd - Broker   Samantha Esqulant	[phone]

 

About EQTEC 

  

EQTEC is one of only a few circular economy technology providers able to address the dual challenges of growing quantities of global waste and the growing demand for energy and biofuels. EQTEC cleanly converts waste into a range of valuable commodities that support new energy and industrial infrastructure. With one of the world's most experienced thermochemical conversion technology and engineering teams, EQTEC provides bespoke waste management and new energy solutions through best-in-class innovation, infrastructure engineering and value-added services for developers, owner-operators and industrials.

  

EQTEC's end-to-end process solutions are in demand from around the world with highly efficient equipment that is modular and scalable from three tonnes of waste per hour. Its versatile solutions process dozens of varieties of feedstock, including plastics, mixed municipal waste, industrial waste and other non-recyclables, all with no hazardous or toxic emissions, producing a wide range of valuable commodities including synthesis gas ("syngas") electricity, heat and steam, synthetic natural gas, hydrogen, liquid fuels or other chemicals.

  

The Company is quoted on the London Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.

  

Further information on the Company can be found at www.eqtec.com. 

 

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