EQTEC PLC Disposal of MetalNRG Shares

RNS Number : 4126M

EQTEC PLC

15 November 2024

 

15 November 2024

EQTEC plc

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

 

Disposal of MetalNRG Shares

 

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, announces the sale of its entire holding, being 60,606,061 shares, in MetalNRG plc ("MNRG") (LON:MNRG), the natural resources company, for total consideration of c. £0.2 million.

EQTEC no longer considers its holding in MNRG to be strategic, following MNRG's decision to withdraw from new energy infrastructure development to refocus on core mining opportunities. The investment was previously written off in EQTEC's audited results for the year ended 31 December 2023.

This disposal reflects EQTEC's commitment to prioritising assets and partnerships that directly support its mission to advance sustainable energy and fuel solutions. The proceeds from the sale will be reinvested into EQTEC's core business activities, furthering its efforts to deliver clean, renewable energy and alternative fuels from waste.

 

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  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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