EQTEC PLC Strategic Alliance Agreement with COBRA (9861F)
February 27 2018 - 2:01AM
UK Regulatory
TIDMEQT
RNS Number : 9861F
EQTEC PLC
27 February 2018
27 February 2018
EQTEC plc
("EQTEC" or the "Company")
EQTEC signs Strategic Alliance Agreement with COBRA
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, is pleased to announce that it has
signed a Strategic Alliance Agreement ("the Agreement") with Cobra
Instalaciones Y Servicios SA ("COBRA"), a worldwide leader in
developing, building and operating infrastructure projects, to
identify and collaborate on waste-to-energy projects that will
utilise the Company's proprietary EQTEC Gasifier Technology
("EGT"). EGT has been developed over 20 years and has over 70,000
operating hours on commercial projects.
The signing of the Agreement follows extensive technical due
diligence carried out on EGT over the last few months which
confirmed EGT's ability to outperform comparative technologies. The
confidence in the performance, costs and efficiency projections has
prompted both companies to commit resources to jointly construct
and operate large scale commercial waste-to-energy projects ("the
Projects").
Under the terms of the Agreement, COBRA will be the EPC
Contractor for the engineering, procurement and construction
("EPC") for the whole power plant of the Projects and will
exclusively use EGT for the gasification and gas cleaning
process.
EQTEC and COBRA will review each new opportunity identified on a
project-by-project basis to assess the best use of EGT for the
project, which could include electricity generation, heat supply
and/or Combined Cooling, Heat and Power ("CCHP"). EQTEC will
provide the basic and detailed engineering and technical design for
the EGT gasification package, performance warranties on generated
gas, together with the equipment agreed, dependent on the
particular project. If required, COBRA will also seek to attract
external financing resources to develop and implement the
Projects.
EQTEC and COBRA are currently identifying opportunities in UK
and the Company will update shareholders in due course.
Luis Sanchez, CEO of EQTEC plc, commented: "COBRA has an
extensive track record of successfully delivering projects in the
Americas, Europe, Africa, Asia and Oceania and we are pleased that
they have validated the superior performance of our proprietary
technology. The agreement presents a perfect opportunity to combine
our experiences and expertise to expand our reach, open new doors
and bring further opportunities to utilise EQTEC Gasifier
Technology around the globe and for large-scale projects of over 50
MWe output."
Enquiries
+353 (0)21 2409
EQTEC plc 056
Luis Sanchez - Chief Executive Officer
Gerry Madden - Finance Director
Northland Capital Partners Limited +44 (0)20 3861
- Nomad and Joint Broker 6625
Dugald J. Carlean / Tom Price
+44 (0)20 3700
SVS Securities Plc - Joint Broker 0093
Tom Curran / Ben Tadd
VSA Capital Limited - Financial +44 (0)20 3005
Adviser and Joint Broker 5000
Andrew Monk / Andrew Raca
+44 (0)20 7618
Luther Pendragon - Financial PR 9100
Harry Chathli / Alexis Gore / Ana
Ribeiro
Notes to Editors
About Cobra Instalaciones y Servicios SA
COBRA (ACS Group) is engaged in the engineering, construction,
operation, installation and maintenance of industrial and energy
infrastructures for clients in the Americas, Europe, Africa, Asia
and Oceania. The company's main business areas are renewable
energies and the environment; industrial engineering and plants
(EPC projects); electric networks and infrastructures,
installations, assemblies and services; and technologies and
services.
COBRA was founded in 1944 and is based in Madrid, with presence
in 60 countries worldwide, more than 30,000 employees and a
turnover in excess of 3100 million euro in 2016. Further
information on the Company can be found at www.grupocobra.com
About EQTEC plc
EQTEC's business model involves sourcing and providing
assistance in developing waste elimination projects to which it
will ultimately sell its EQTEC Gasifier Technology ("EGT") and
O&M services. EGT 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 bring
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. Furthermore, EQTEC
will provide O&M services to the operating projects generating
recurring revenues over the life of the projects.
The Company is quoted on AIM and trades as EQT. Further
information on the Company can be found at www.eqtecplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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