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Share Name Share Symbol Market Type Share ISIN Share Description
Metalnrg Plc LSE:MNRG London Ordinary Share GB00B15FS791 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.02 -11.43% 0.155 0.15 0.16 0.175 0.155 0.175 10,832,831 14:40:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.9 -0.2 - 2

MetalNRG PLC Italian Waste to Energy Plant Update

26/10/2021 7:00am

UK Regulatory (RNS & others)


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RNS Number : 1869Q

MetalNRG PLC

26 October 2021

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR").

26(th) October 2021

METALNRG plc

("MetalNRG" or the "Company")

Italian Waste to Energy Plant Recommissioning Update

MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to provide an update on progress being made on the recommissioning of EQTEC Italia MDC waste-to-energy plant.

MetalNRG is part of a consortium of co-investors, led by EQTEC plc (AIM: EQT) ("EQTEC"), which recently formalised the intention to recommission the 1 MW biomass-to-energy plant in Tuscany, Italy.

The facility, originally commissioned in 2015, is built around EQTEC Advanced Gasification Technology and when operational, Italia MDC will transform straw and forestry wood waste sustainably sourced from local farms and forests into green electricity and heat for the local community.

EQTEC recently stated that recommissioning of the project is continuing on track, with recent developments including that:

-- the EQTEC technical team has been on site, completing engineering surveys, as well as meeting EPC partners and local stakeholders;

   --    the site has been fully cleaned; 
   --    disassembly of relevant components was completed earlier this month; and 

-- EQTEC Advanced Gasification Technology and associated technology items, including the syngas filter, water treatment unit, heat exchanges and thermal cracker reactor burner, have now been ordered and deliveries are due to start arriving in late November.

We announced to the market at the financial close of this transaction that we expected the plant to be fully recommissioned by Q2 2022. We are confident, at this stage of proceedings, that this announced time-line will be maintained. We expect to provide another update on progress to the market in early 2022.

A series of pictures can be viewed on the Company's web site, www.metalnrg.com .

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

END

Contact details:

 
 MetalNRG PLC 
  Rolf Gerritsen 
  Christopher Latilla-Campbell     +44 (0) 20 7796 9060 
 Corporate Adviser 
  PETERHOUSE CAPITAL LIMITED 
  Lucy Williams/Duncan Vasey       +44 (0) 20 7469 0930 
                                 ---------------------- 
 Corporate Broker 
  SI CAPITAL LIMITED 
  Nick Emerson                     +44 (0) 1483 413500 
                                 ---------------------- 
 

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END

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October 26, 2021 02:00 ET (06:00 GMT)

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