EQTEC PLC - COVID-19 Update
("EQTEC", the "Company" or the "Group")
The safety of our staff, their families, our customers and partners are the priority for EQTEC. With offices in the
We have already implemented a number of government recommendations, including those surrounding the avoidance of non-essential travel and working from home where practical. Our technical and corporate staff are set up for remote working and we expect no reduction in our design and engineering capability, and the delivery of these services to any of our projects.
We are also in regular contact with our key partners and suppliers regarding their own preparedness for the impact of the COVID-19 virus and are reassured by the actions they have put in place to mitigate against the long term effect of localised business disruption.
Given the uncertainty and rapidly changing nature of the situation, the Company is working to protect its cash resources by pro-actively managing its capital expenditure and working capital, as well as identifying opportunities for expenditure savings that will not impact on the long-term success of the Company.
Despite the current challenging circumstances, we are seeking to maintain momentum following the increase in commercial enquires and the addition of strategic partnerships in our core geographies. We are continuing to advance our commercial pipeline in the US and more recently in
Green economy provisions featured heavily, in the recent Budget from the
"We continue to monitor and adhere to the official guidance regarding COVID-19. It is very hard to predict the full impact of COVID-19 at this stage, however, we are taking all possible actions to manage and mitigate this situation. We have implemented measures to safeguard employee and customer health, as well as maintaining operations during this uncertain time. We are grateful to our staff, partners and wider stakeholders for the commitment and resilience they have already shown, and I believe that our ties will be even stronger once this crisis is behind us."
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+353 21 2409 056
Strand Hanson - Nomad & Financial Adviser
+44 20 7409 3494
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+44 1483 413 500
IFC Advisory - Financial PR & IR
+44 20 3934 6630
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Notes to Editors
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
This information is provided by RNS, the news service of the
Quick facts: EQTEC PLC
Market Cap: £26.9 m
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