EQTEC on course to be one-stop-shop for waste-to-energy projects

EQTEC PLC is a global clean technology company with proven, proprietary and patented technology for sustainable waste-to-value applications.

The company builds clean energy infrastructure that sustainably reduces waste by combining its world-leading gasification technology, innovation and engineering with expert plant construction and project delivery capabilities.

() said it will invest an additional US$2.8mln (GBP2.1mln) in the North Fork forestry waste-to-energy project in California, increasing its stake in the project to 49%.

The AIM-quoted company added that it has also provided a two-year convertible loan facility of up to US$4.5mln to fund the development of the project, which is seeking to build a 2MWe biomass-to-energy plant based on EQTEC technology.

The EQTEC technology has been delivered on site and construction work has progressed to where foundations are in place and steel structures have been erected, with much of the core gasification equipment installed, it said.

The project has encountered delays since late 2021 as a result of the Coronavirus pandemic and fires near the construction site.

() has agreed to buy a 5MW waste-to-energy project in Drama, North Eastern Greece through a joint venture with its Greek strategic partners and Germany’s ewerGy GmbH.

Once operational, the new biomass-to-energy plant will generate about 5MW of green electricity and up to 8MW of thermal output from locally and sustainably sourced forestry waste. Due diligence, including financial and technical feasibility, has been completed, EQTEC said.

EQTEC PLC (AIM:EQT) (AIM: EQT) said it remains on track to achieve seven times revenue growth over the previous year as it posted sales of EUR481,720 in the six months to June and booked a loss before tax of just over EUR4mln.

During the period the company continued to convert pipeline opportunities into active development projects and delivered financial close on its first Market Development Centre, with others following. It also invested in growth and raised GBP16mln in new development capital.

EQTEC PLC (AIM:EQT)’s (LON:EQT) CEO David Palumbo tells Proactive London about their unaudited interim results for the six months ended 30 June 2021.

He takes viewers through the highlights which include growing their conversion of pipeline opportunities into active development projects and the financial close of their first Market Development Centre.

The firm also went through an oversubscribed placing for GBP16 million in new development capital as well as ramping up engagement with policy makers, influencers and ESG interest groups.