18:00 Mon 16 Mar 2020
EQTEC PLC - Collaboration Framework Agreement with ewerGy
("EQTEC", the "Company" or the "Group")
Collaboration Framework Agreement with ewerGy to develop project portfolio
On
Highlights
· The purpose of the Agreement is for EQTEC and ewerGy to co-operate and collaborate to develop projects together in the Territory and to promote and introduce to each other commercial opportunities.
· The parties will focus their joint efforts to develop a selected project portfolio in the region and to use EQTEC's Advanced Gasification Technology in projects which will include electricity generation, heat supply and/or CCHP (combined cooling heating and power), as well as syngas to chemicals.
· The intention is to focus on a portfolio approach in the Territory that would meet the strategic interests of both EQTEC and ewerGy.
· ewerGy will act as an ongoing business developer for EQTEC in the Territory and, in
· EQTEC will provide engineering and technical design services, technology and project development support.
· The parties have identified 11 potential projects in the pipeline: Two are under development, of 0.5MWe and 1MWe respectively (as announced on
· All of the projects have the required permitting, economic feasibility studies and secured biomass feedstock, supplied by the local communities, for proposed development.
· The Agreement will be valid for an initial 60-month period.
EQTEC and ewerGy have full confidence in the potential of the Agreement and the Company will update the market accordingly when the projects under review are progressed into a qualified contracted pipeline. Any project that the parties decide to take forward and develop would be subject to a separate detailed contract and further announcements will be made, as and when appropriate.
Since January, we have been working with ewerGy and its local partner, ECO Hellas, on the development of the first advanced gasification plant in
Gerd Kromarck, CEO of ewerGy, commented:
"In the announcement of the MOU for the first advanced gasification plant in
"The opportunity is there:
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
Enquiries
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+353 21 2409 056 |
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Strand Hanson - Nomad & Financial Adviser |
+44 20 7409 3494 |
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+44 1483 413 500 |
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IFC Advisory - Financial PR & IR |
+44 20 3934 6630 |
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Notes to Editors
About
EQTEC is the technological solution partner for converting waste to clean energy.
EQTEC mission is to provides sustainable technological solutions to address two of the world's greatest challenges: managing rising levels of waste and meeting the growing demand for clean energy.
EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects which will convert waste into clean energy, to which it will ultimately sell its EQTEC Advanced Gasification Technology and O&M services. EQTEC Advanced Gasification Technology enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.
EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects.
EQTEC also seeks to provide O&M services to established operating co-generation plants generating recurring revenues over the life of the projects.
The Company is quoted on AIM, bears the Green Economy Mark awarded by the
About ewerGy
ewerGy is a German company with extensive experience in the renewable energy market, in project development, implementation and construction, as well as O&M.
For more information, please visit: www.ewergy-germany.com
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