EQTEC PLC Financing facility drawdown (4602K)
December 14 2018 - 2:01AM
UK Regulatory
TIDMEQT
RNS Number : 4602K
EQTEC PLC
14 December 2018
14 December 2018
EQTEC plc
("EQTEC" or the "Company")
Financing facility drawdown
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, announces that the Company has
drawn down a third tranche amounting to US$864,000 under the US$10
million financing facility provided by Cuart Investments Fund and
associates further details of which were announced by the Company
on 27 September 2018 and 5 July 2018. The total amount drawdown to
date under the financing facility amounts to US$3,328,000
(approximately GBP2.6 million).
The proceeds of the drawdown will be used to further develop the
Company's existing project portfolio, to avail of possible
investment opportunities and for general working capital.
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014 and has
been announced in accordance with the Company's obligations under
Article 17 of that Regulation.
Enquiries
EQTEC plc +353 (0)21 2409 056
Ian Price - Chief Executive Officer
Gerry Madden - Finance Director
Northland Capital Partners Limited - Nomad
and Broker +44 (0)20 3861 6625
David Hignell / Dugald J. Carlean
Luther Pendragon - Financial PR +44 (0)20 7618 9100
Harry Chathli / Alexis Gore / Joe Quinlan
Notes to Editors
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 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. 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
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contact rns@lseg.com or visit www.rns.com.
END
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