EQTEC PLC Statement re EBIOSS Agreement with Urbaser (4792T)
March 20 2019 - 10:00AM
UK Regulatory
TIDMEQT
RNS Number : 4792T
EQTEC PLC
20 March 2019
20 March 2019
EQTEC plc
("EQTEC" or the "Company" or the "Group")
Statement re EBIOSS Energy SE Collaboration Agreement with
Urbaser S.A.U.
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, makes the following statement in
relation to EBIOSS Energy SE ("EBIOSS").
On 7 March 2019, EBIOSS, the Company's largest shareholder,
announced that it had signed an exclusive collaboration agreement
with Urbaser S.A.U. ("Urbaser") (together with EBIOSS, the
"Parties") (the "Agreement") to identify and secure opportunities
for the collection, treatment and, where suitable, the conversion
of waste into energy. The EBIOSS announcement stated that the
Parties have agreed, subject to Urbaser technical due diligence, to
use EQTEC's gasification technology for waste to energy
gasification projects in Bulgaria, Greece, Macedonia and
potentially Romania.
EQTEC confirms that it is not party to the Agreement and that
there is no-binding commitment on the Company pursuant to the
Agreement for the provision of its technology to the Parties.
On 19 March 2019, the Company received a clarificatory letter
from EBIOSS in relation to the terms of the Agreement and the
Parties' intentions regarding the potential use of EQTEC's
technology. EBIOSS has confirmed that, in respect of waste
treatment and disposal projects, the Parties will use EQTEC's
gasification technology, subject to successful completion of
Urbaser technical due diligence and all parties, including EQTEC,
agreeing terms, including the commercial basis of any contract.
EQTEC confirms that it will conduct due diligence on any potential
opportunities that are presented to it by the Parties pursuant to
the Agreement.
Ian Price, CEO of EQTEC plc, commented: "We are pleased to note
the Agreement between EBIOSS and Urbaser, and we are encouraged by
this statement of intent by the Parties to use our technology and
the further validation that this would bring to the Group.
Urbaser is a leading integrated waste and resource management
company, providing solutions to local authorities, businesses and
the general public with strong project experience in the waste to
energy space. We look forward to evaluating each opportunity as and
when it arises in order to assess its ability to increase
shareholder value."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
EQTEC plc +353 (0) 21 2409 056
Ian Price - Chief Executive Officer
Gerry Madden - Finance Director
Strand Hanson - Nomad, Financial Adviser
& Broker +44 (0) 20 7409 3494
James Harris/Richard Tulloch/Jack Botros
IFC Advisory - Financial PR +44 (0) 20 3934 6630
Tim Metcalfe/Miles Nolan/Zach Cohen
Notes to Editors
About EQTEC
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
About Urbaser
Urbaser S.A.U., is based in Spain and has extensive experience
in the provision of environmental services both nationally and
internationally. They are the third largest environmental services
provider in Europe, providing high profile waste treatment, waste
and recycling collection, street cleansing and grounds maintenance
services in cities including Barcelona, Madrid, Paris, Porto and
London. Urbaser also operate comparable operations across Asia,
North Africa and South America.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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