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Share Name Share Symbol Market Type Share ISIN Share Description
Eqtec Plc LSE:EQT London Ordinary Share IE00BH3XCL94 ORD EUR0.001 (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.005 1.1% 0.46 0.45 0.47 0.46 0.455 0.455 21,612,730 08:41:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 7.7 -4.0 -0.1 - 39

EQTEC PLC Collaboration with Anaergia for Southport Project

24/06/2022 10:32am

UK Regulatory (RNS & others)


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TIDMEQT

RNS Number : 1189Q

EQTEC PLC

24 June 2022

24 June 2022

EQTEC plc

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

Collaboration with Anaergia Inc. for EPC and O&M at Southport Project

EQTEC plc (AIM: EQT), a world-leading technology innovation company enabling the Net Zero Future through advanced solutions for hydrogen, biofuels, SNG and other energy production , is pleased to announce that, through its wholly owned subsidiary, Southport WTV Limited, and its partners Rotunda Group Limited ("Rotunda") and Rotunda's subsidiary, Shankley Biogas Limited (the "Project SPV"), the Project SPV has entered into a co-operation agreement (the "Agreement") with Anaergia Inc. ("Anaergia") for construction and operation of a multi-technology, waste-to-energy facility at Southport Hybrid Energy Park, Merseyside, UK (the "Plant").

The Plant includes an Anaergia waste processing facility that will accept 80,000 tonnes of pre-processed municipal solid waste ("MSW") waste per year to both recover organics produce refused-derived fuel ("RDF") as well as an Anaergia anaerobic digestion facility that is designed to convert the recovered organics into six million cubic metres of biomethane per year, to be injected into the national gas transmission system. Through combined heat and power ("CHP") engines, the Plant will also pull gas from the grid to generate 9MWe for export to the national electricity transmission system. The Plant design also includes a 2MW battery storage facility.

Under the Agreement, Anaergia are to undertake a full Engineering, Procurement & Construction ("EPC") role for the Plant based on a fixed price, lump sum contract for the capital works scope as well as a separate, minimum five-year contract to Operate & Maintain ("O&M") the Plant. The establishment of these two key relationships-for the EPC for the Project and for the O&M for the Plant-is critical for completing development and moving into the next phase of the Project.

The Company, which is leading development of the Plant, intends in a future phase of work, subject to planning, to add EQTEC Advanced Gasification Technology that could convert 25,000 tonnes of RDF per year, supplied by the Plant's waste processing facility, into an estimated 2.5 - 3.0MWe of clean electricity. The Company is further exploring the option of producing clean hydrogen at the Plant, by applying its own synthesis gas ("syngas") technology together with syngas-to-hydrogen technology provided by a technology partner.

Together, the full Plant facilities are expected to export to the grid the equivalent of 20% or more of Southport's energy requirement.

David Palumbo, CEO, EQTEC, commented:

"Anaergia has been a great partner at our Deeside project, and we are very happy to be co-developing Southport with them as well. We are even happier they are bringing their EPC and O&M capabilities to the Project, to complement their world-class technologies. The future of renewable energy beyond fossil fuels will be a mixed economy, and the Deeside and Southport plants will demonstrate that. These projects are at the cutting edge of clean, waste-to-energy and hydrogen innovation in the UK. We look forward to these and future opportunities with Anaergia to demonstrate successful, sustainable cleantech in practice."

Simon Christian, MD of Anaergia UK, commented:

"Anaergia are excited to be involved in another opportunity to combine Anaergia's industry-leading organics recovery capabilities with EQTEC's advanced gasification expertise on the Southport project. The MSW "Fines" (or "Trommel Fines") that this facility will process are a huge challenge to the UK waste industry, but Anaergia's unique processing technologies - particularly the OREX(TM) extrusion press - mean organics can be recovered from this difficult material and converted into useful resources."

Further information about the Project

EQTEC is co-developer and gasification technology provider to the Project, working in partnership with Rotunda Group and its subsidiary Shankley Biogas at Watts Industrial Estate, Southport Hybrid Energy Park, Crowland Street, Southport, Merseyside, UK. In September 2021, the Company entered into a conditional Share Purchase Agreement to acquire full ownership of Shankley Biogas and the Project from Rotunda.

A forthcoming, additional permission would create the potential for development of an enhanced waste-to-energy solution applying EQTEC Advanced Gasification Technology to the Project. Further, and as announced on 01 February 2022, the Company and Rotunda are assessing the potential for a third phase to the Project, that would deploy an additional, and potentially larger gasification facility near the current Southport site.

EQTEC expects to act as the Project developer for all aspects of the Southport project, providing the design and core Advanced Gasification Technology and retaining a portion of the O&M contract upon commissioning. As the Project matures toward financial close, the Company intends to sell a majority equity position on the Project SPV and invoice that SPV for development services provided.

The Project will directly address the challenges of waste reduction and the need for clean energy, while also creating local jobs.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

ENQUIRIES

 
 EQTEC plc                                    +44 203 883 7009 
 David Palumbo / Nauman Babar 
                                             ----------------------- 
 
 Strand Hanson - Nomad & Financial Adviser    +44 20 7409 3494 
                                             ----------------------- 
 James Harris / Richard Johnson 
                                             ----------------------- 
 
 Arden Partners - Joint Broker                +44 20 7614 5900 
                                             ----------------------- 
 Ruari McGirr (Corporate) / Simon Johnson 
  (Sales) 
                                             ----------------------- 
 
 Canaccord Genuity - Joint Broker             +44 20 7523 8000 
                                             ----------------------- 
 Henry Fitzgerald-O'Connor / James Asensio 
  / Patrick Dolaghan 
                                             ----------------------- 
 
 Alma PR - Financial Media & Investor 
  Relations                                   +44 20 3405 0205 
                                             ----------------------- 
 Josh Royston / Sam Modlin / Matthew          EQTEC@almapr.co.uk 
  Young 
                                             ----------------------- 
 
                                              +44 (0) 20 7457 2381 
 Instinctif - General Media Enquiries          / +44 (0) 7887 884794 
                                             ----------------------- 
 Chris Speight / Tim Field                    EQTEC@instinctif.com 
                                             ----------------------- 
 

About EQTEC plc

As one of the world's most experienced gasification technology and engineering companies, with a growing track record of delivering operational and commercial success for transforming waste-to-energy through best-in-class technology innovation, engineering and project development , EQTEC brings together design innovation, project delivery discipline and solid commercial experience to add momentum to the global energy transition. 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, supplies and builds advanced gasification facilities in the UK, EU and US, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process over 50 varieties of feedstock, including forestry wood waste, vegetation and other agricultural waste from farmers, industrial waste and sludge from factories and municipal waste, all with no hazardous or toxic emissions . EQTEC's solutions produce a pure, high-quality synthesis gas ("syngas") that can be used for the widest range of applications, including the generation of electricity and heat, production of synthetic 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 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 .

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases ("GHGs") by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Anaergia's customers are in the Municipal Solid Waste, Municipal Wastewater, Agriculture, and Food Processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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June 24, 2022 05:32 ET (09:32 GMT)

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