EQTEC PLC (AIM:EQT) (AIM:EQT) David Palumbo, chief executive talks to Proactive London's Katie Pilbeam about their deal for Kibo Energy to become a strategic investor in the proposed Billingham waste gasification and power plant in Teesside, UK.
Kibo will acquire a 54.54% equity stake in the Haverton Hill project special purpose vehicle (SPV), with EQTEC to retain 45.46% equity in the SPV and continue to lead the development of the project.
Palumbo believes this partnership with Kibo could evolve and expand into other projects and markets.