EQTEC PLC (AIM:EQT), a global gasification solutions company, said an option to acquire a waste management project in Southport has been extended due to COVID-19 delays.
The waste-to-energy company announced last September that it had an exclusive option to take full ownership of the Southport Hybrid Energy Park project from a local company, Rotunda Group Ltd.
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“Despite best efforts by all parties to conclude the acquisition prior to the end of the option period, an unanticipated COVID-19 related delay occurred and this has led to the mutually agreed extension to the option period to 30 September 2021,” EQTEC said.
The parties have agreed all commercial terms, are in the final stages of the legal process and expect the acquisition to be completed in the coming weeks.