MetalNRG PLC EQTEC Business Partnership Funding Update
09 March 2022 - 6:01PM
RNS Non-Regulatory
TIDMMNRG
MetalNRG PLC
09 March 2022
9 March 2022
METALNRG plc
("MetalNRG" or the "Company")
EXCLUSIVE AGREEMENT TO SOURCE DEBT FOR WASTE TO ENERGY
PROJECTS
MetalNRG plc, (LON:MNRG), the natural resources and energy
investment company, is pleased to announce that it has agreed an
exclusive remit for AdviCorp PLC to source a GBP20 million to GBP40
million debt facility to be invested on a project by project basis
in identified, qualified and "shovel ready" waste to energy
projects in Europe.
Following MetalNRG and EQTEC plc (AIM: EQT) entering into a
Business Development Partnership (as previously announced on 22
March 2021) extensive work has been completed by the partnership to
secure exclusivity and develop a pre-qualified secured pipeline of
waste-to-energy and waste-to-fuels projects. These projects are
expected to deliver revenues within 6 to 18 months of funding. The
first project is already under construction in Italy.
The focus of our pipeline development has been on identifying
and securing a number of mature projects that can deliver rapid
revenue generation and meet the requirements for debt investment.
The partnership has developed a 2-tier pipeline of projects along
the following qualifications:
Tier 1:
Projects that have successfully achieved financial close, to be
revenue generating by the end of 2022, with a typical investment of
between GBP2 million to GBP10 million, delivering an unleveraged
IRR of between 12% to 16% with all the requirements for debt
financing in place.
Tier 2:
Projects ready to achieve financial close and construction to
start in Q2 to Q4 2022, typical investment between GBP5 million and
GBP10 million per project and leading to revenue within a maximum
of 18 months from funding.
AdviCorp PLC, established in London in 1997 with offices in both
London and Rome, is an independent investment banking firm
operating in the areas of Corporate Finance, Mergers and
Acquisitions. AdviCorp works with dynamic companies looking to grow
their businesses. The AdvCorp team has decades of international
experience in multiple financial products and markets, earned in
prior executive roles in international investment banks and
corporations.
AdviCorp PLC is authorised and regulated by the Financial
Conduct Authority.
MetalNRG and AdviCorp have entered into an exclusive agreement
that will see AdviCorp advise on securing a debt facility to be
drawn down on a project by project basis.
Rolf Gerritsen commented "The agreement with AdviCorp
strengthens the foundation to our development plan with EQTEC and
our business partnership. The access to debt will enable MetalNRG
to further develop a wider portfolio of waste to energy projects
that will give us substantial flexibility.
I am delighted that AdviCorp has agreed to work with us as its
reputation for delivery is outstanding. I very much look forward to
supplying the market with additional information as we progress
this extremely exciting project."
END
Contact details:
MetalNRG PLC
Rolf Gerritsen
Christopher Latilla-Campbell +44 (0) 20 7796 9060
Corporate Broker
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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