EQTEC PLC (AIM:EQT) announced a move into the liquid fuels market through a framework agreement to collaborate on waste-to-fuel projects with CompactGTL Ltd, a gas-to-liquids (GTL) company specialising in the production and use of synthetic fuels from gases.
The companies will work together on the design, development, construction and operation of waste-to-fuel projects and other synthetic fuel and energy infrastructure projects, with an initial focus on small-scale, modular, waste-to-fuel plants, EQTEC said in a statement.
They plan to integrate their respective technologies and know-how to pursue opportunities for clean, sustainable liquid fuel production.
EQTEC will provide project development, syngas technology solutions, engineering and technical design services, while CompactGTL will provide GTL technology solutions and access to development sites, funders, infrastructure investors and blue chip offtakers.
READ: EQTEC partners with Wood for waste-to-hydrogen solution at Southport project
CompactGTL is actively looking at how its technology can be applied in the production of new fuels, especially the conversion of synthesis gas (syngas) into sustainable liquid fuels for industries that are more difficult to decarbonise, such as aviation and heavy haulage.
The companies have identified a potential pilot-demonstration project for which they will commence feasibility work as soon as possible. The project would focus on designing and developing the first, small-scale, commercial plant using refuse-derived fuel (RDF) as feedstock in the production of sustainable liquid fuels.
A location for the project has been identified and the companies are in talks with the site owner about acquiring rights to developing the project.
David Palumbo, chief executive of EQTEC, commented: “To date, we have targeted our efforts on projects for clean power, thermal energy, hydrogen and synthetic natural gas. I am especially happy now to add liquid fuels to that list, as market interest grows for sustainable aviation and ground fleet fuels.
“CompactGTL are uniquely positioned as partners, with the technology and a team deeply expert in process technologies, to collaborate with us toward rapid realisation of highly efficient fuels for the Net Zero future. We are excited to get moving in this market."
EQTEC shares rose 4.14% to 0.73p in midmorning trade.