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EQT Eqtec Plc

2.40
-0.05 (-2.04%)
Last Updated: 11:28:36
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eqtec Plc LSE:EQT London Ordinary Share IE000955MAJ1 ORD EUR0.01 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -2.04% 2.40 2.30 2.50 2.45 2.40 2.45 385,303 11:28:36
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electric Services 7.97M -10.53M -0.0712 -0.34 3.55M

EQTEC PLC Collaboration Framework Agreement (6679U)

27/11/2023 7:00am

UK Regulatory (RNS & others)


Eqtec (LSE:EQT)
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From Nov 2023 to Feb 2024

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TIDMEQT

RNS Number : 6679U

EQTEC PLC

27 November 2023

27 November 2023

EQTEC plc

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

Collaboration Framework Agreement with Tresca Energía

EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, is pleased to announce that it has signed a Collaboration Framework Agreement (the "Agreement") with Tresca Energía S.A. ("Tresca"), a Spain-based engineering group, infrastructure developer and project manager with a particular interest in applying EQTEC technology to advanced biofuels solutions. The Agreement specifically identifies a first project for the collaboration, which would be a facility in Castilla y León, Spain (the " Project") that would convert approximately 50,000 tonnes per year of biomass into renewable natural gas ("RNG"). The Project, which currently is progressing its feasibility phase, has already secured interest from a main Spanish bank to provide the funding together with offtake terms from a large gas grid operator.

Through the Agreement, the Company and Tresca (together, the "Parties") will collaborate on joint development and qualification of pipeline opportunities through integrated teams that combine EQTEC's technology and engineering capabilities with Tresca's expertise developing renewable energy projects and its access to funders, infrastructure investors and offtakers. The Parties have a particular interest at present in pursuing projects focused on RNG or methanol generation from synthesis gas ("syngas") produced through EQTEC's patented and proprietary technology.

Tresca is a development, project management and engineering company with 20 years' experience managing infrastructure projects across more than 30 countries in Europe, South America, Africa, the Middle East and Asia. It is active in energy, hydrogen technology, chemistry and several other complementary sectors. The Company views Tresca as a strong, go-to-market partner for Spain and other geographies where there is a growing need for professional development and project management in the burgeoning sector for syngas-based renewable energy.

David Palumbo, CEO of EQTEC, commented:

"We have already noted that our go-to-market focus will increasingly shift from geography per se, toward strong, capable partners able to mobilise funding and apply professional disciplines for stable, steady progress with projects integrating EQTEC technology. We see Tresca as another such partner, with its long track record of successful and steady growth across a number of sectors in a number of geographies. We are delighted to cement this Agreement with Tresca, especially with at least one project already in mind for active collaboration with them in the near future. For EQTEC, this Agreement represents another step forward with our strategy of safeguarding our role as innovator and technology licensor, with another partner who can assure our technology is professionally deployed for maximum impact as new energy infrastructure."

Francisco Carro, CEO of Tresca Energía, commented:

" We are pleased to formalise this cooperation. Tresca has a growing capability to build facilities that produce biomethane by converting biomass to syngas, so our need for technologies that can do this reliably is growing. We are convinced that EQTEC will provide us with a modular and scalable capability that we can replicate in many of our future projects, starting with a biomass-to-RNG plant near our base in León, Spain ."

ENQUIRIES

 
EQTEC plc 
 David Palumbo / Jeffrey Vander Linden      +44 20 3883 7009 
Strand Hanson - Nomad & Financial Adviser 
 James Harris / Richard Johnson             +44 20 7409 3494 
                                            ---------------- 
Global Investment Strategy UK Ltd - Joint 
 Broker 
 Samantha Esqulant                          +44 20 7048 9045 
                                            ---------------- 
Fortified Securities - Joint Broker 
 Guy Wheatley                               +44 20 3411 7773 
                                            ---------------- 
Panmure Gordon - Joint Broker 
 John Prior / Hugh Rich                     +44 20 7886 2500 
                                            ---------------- 
 

About Tresca Energía

Tresca Energía S.A., based in León, Spain, is an engineering, project development and project management company with the mission of supporting its clients in responding to industry challenges, by anticipating and managing change, to lead industrial and energy change and transformation processes for its clients. Founded in 2001, Tresca has offices also in Madrid and Asturias, Spain, with projects across Europe, South America, Africa, the Middle East and Asia.

Tresca's clients include investment funds, large-scale industrials, chemical & pharmaceutical companies, owner-operators in the energy sector, oil & gas companies, glass & ceramics companies, cement & mining businesses, metallurgy and steel manufacturers, hydrogen producers and biotech companies. Tresca's services include feasibility work, project development, financial modelling, procurement management, project management, balance of plant engineering, site and construction management, commissioning services and a range of digital technology services across the project lifecycle.

In recent years, Tresca has become one of the main actors in terms of projects associated with decarbonisation and new energy technologies on the Iberian peninsula.

Tresca has established a particular expertise with designing and developing plants that extract methane from syngas to produce biomethane or RNG or reform it into methanol. This focus is especially relevant for EQTEC, whose advanced syngas technology produces an especially high quality syngas that can maximise the methane component from a wide variety of feedstocks.

Tresca and EQTEC will collaborate on opportunity generation, but more specifically on qualification, development and commissioning of advanced biofuels plants that utilise EQTEC's patented and proprietary syngas technology.

About EQTEC

As one of the world's most experienced thermochemical conversion technology and engineering companies, EQTEC delivers waste management and new energy solutions through best-in-class innovation and infrastructure engineering and value-added services to owner-operators. EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. EQTEC's proven, proprietary and patented technology is at the centre of clean energy projects, sourcing local waste, championing local businesses, creating local jobs and supporting the transition to localised, decentralised and resilient energy systems.

EQTEC designs, specifies and delivers clean, syngas production solutions in the USA, EU and UK, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of feedstock, including forestry waste, agricultural waste, industrial waste and municipal waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a pure, high-quality syngas that can be used for the widest range of applications, including the generation of electricity and heat, production of renewable natural gas (through methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.

EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.

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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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END

AGRFESFFIEDSEEF

(END) Dow Jones Newswires

November 27, 2023 02:00 ET (07:00 GMT)

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