TIDMEQT
RNS Number : 4712W
EQTEC PLC
17 April 2023
17 April 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Collaboration Framework Agreement for waste-to-RNG projects in
Italy
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 entered into a
Collaboration Framework Agreement (the "CFA") with Poseidon LNG Hub
Srl ("PLH"), a sister company of Belleli Group, an energy
technology project developer with extensive global expertise in
engineering, construction and operations of large petrochemical and
power plants, with interests in the LNG, RNG and green fuels
sectors.
Under the terms of the CFA, the Company and PLH will jointly
target and pursue market opportunities in Italy for collaborative
development and deployment of clean, waste-to-RNG and
waste-to-hydrogen solutions and delivery of related projects.
Highlights
-- PLH has identified and selected four, potential initial
locations in a portfolio of projects (the "Colibrì Plants") through
engagement with the province of Cremona, northern Italy, in the
following locations: Corte dei Frati, Piadena, Castelverde and
Cremonese Grumello;
-- Each plant in the portfolio, if developed, is expected to be
capable of transforming c. 100,000 tonnes of mixed waste and
biomass into RNG and other green biofuels;
-- PLH, in its capacity as lead integrator and developer, has
carried out in-depth, technical due diligence and subsequently
selected expert companies to design and implement specific scope
for each Colibrì Plant, based on the specialist field of expertise
of each service provider / partner. EQTEC was selected to join the
consortium as the exclusive syngas technology partner;
-- Other companies in the consortium include: Linde plc, Wood
plc, Alfa Laval AB and Chemprod Srl;
-- PLH is to be solely responsible for securing funding for the
Colibri Projects with no contribution required from EQTEC. PLH is
already in advanced discussions with a number of international
banks, public funds and equity partners for funding of the
pipeline; and
-- The first project, located in Corte dei Frati, is expected to
reach full permitting for construction in 2023 and financial close
in H1 2024. EQTEC intends to generate from the project engineering
services, technology sales, licensing fees and other value added
services.
The CFA was originated inside the scope of the Company's
existing, strategic collaboration agreement with Wood, aimed at
expanding availability and application of EQTEC's synthesis gas
("syngas") capabilities into new markets, combining it with Wood's
established VESTA methanation technology, engineering capabilities
and capacity for scale.
The CFA supports the Company's business strategy of becoming a
global technology licensor and is an important step toward
demonstrating EQTEC's capabilities with application of its
versatile syngas technology to a variety of applications,
especially RNG. It builds on the steam-oxygen capabilities
installed by EQTEC in 2022 at its R&D facility hosted by the
Université de Lorraine in France and on the profile enjoyed by
EQTEC in the sector following the award of two projects in France
at Gardanne and at Limoges, both announced in March 2023. It also
builds on the RNG trials targeted for investment by the Company
from the recent fundraise announced on 21 March 2023.
David Palumbo, EQTEC CEO, commented:
"This agreement further cements EQTEC's position as a leading
syngas technology company within a consortium of leading, global
companies with complementary capabilities. The RNG market in Europe
shows substantial growth potential, as the continent moves to set
feed-in tariffs later this year, supported even further by the
anticipated announcement from European Sovereign funds toward
acceleration of project financing. EQTEC is already pursuing
several RNG opportunities and is well placed to seize new
opportunities created by the current momentum toward RNG.
We are extremely pleased to work with Poseidon, which brings
extensive experience in development, construction, and operations
of complex chemical process infrastructure around the world. We are
excited by the know-how to be developed through this collaboration
and look forward to a relationship that creates new revenue
opportunities whilst accelerating the adoption of new energy
infrastructure."
Luigi Conte, Poseidon LNG Hub Srl President, commented:
"We are passionate to build a future of energy infrastructure
projects that apply business integrity with social responsibility.
Our commitment is to deliver successful projects through an
integrated, innovative project philosophy. We developed and
engineered the first LNG floating terminal in the world and now
with this collaboration with EQTEC we will continue to innovate
syngas-to-RNG applications from non-fossil fuel feedstocks.
By combining EQTEC's and Wood's breakthrough technologies and
leveraging our combined capabilities, this collaboration will
provide the opportunity to innovate and create solutions to support
the path to net zero."
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 / Nauman Babar +44 20 3883 7009
Strand Hanson - Nomad & Financial
Adviser
James Harris / Richard Johnson +44 20 7409 3494
Panmure Gordon - Broker
John Prior / Hugh Rich +44 20 7886 2500
Instinctif - Media & investor EQTEC@instinctif.com
relations enquiries +44 791 717 8920 / +44 788
Guy Scarborough / Tim Field 788 4794
About Belleli Group
Belleli Group ("BG") is an engineering, construction and
operations group of companies covering the full energy chain
infrastructure onshore and offshore. BG is active in engineering,
project management, procurement, construction and O&M services
globally, for international projects in Oil & Gas (onshore and
offshore), Power, Water and Infrastructure, backed by 70 years'
experience in more than 50 oil refineries and 40 petrochemical
plants.
BG is committed to developing innovative technology for complex
projects, with the most advanced solutions, while protecting the
environment and promoting local content and community social
development, with the support of BEI (Belleli Engineering &
Infrastructures), supplying value-added services: feasibility
studies, conceptual engineering, preliminary design, basic design,
detail engineering, construction management, commissioning. BG is a
top partner for added value solutions in the energy and water
industry through advanced technology. Further information on BG can
be found at ( http://www.bg-belleligroup.com/index.html )
About Poseidon LNG Hub Srl
Poseidon LNG Hub Srl ("PLH") is a sister company of BG, acting
as energy technology project developer and integrator, specifically
active in LNG, RNG, green fuels and other green energy projects.
PLH draws on the extensive experience, resources and the network of
BG to establish consortia with top global partners for delivery of
new energy infrastructure.
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
.
, 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
AGRNKOBDNBKDBQD
(END) Dow Jones Newswires
April 17, 2023 09:15 ET (13:15 GMT)
Eqtec (LSE:EQT)
Historical Stock Chart
From Apr 2024 to May 2024
Eqtec (LSE:EQT)
Historical Stock Chart
From May 2023 to May 2024