EQTEC PLC Approval for RDF testing at University of Lorraine (8945Z)
January 15 2020 - 6:00AM
UK Regulatory
TIDMEQT
RNS Number : 8945Z
EQTEC PLC
15 January 2020
15 January 2020
EQTEC plc
("EQTEC", the "Company" or the "Group")
Approval for RDF testing at University of Lorraine Gasification
Plant
EQTEC plc (AIM: EQT), the technology solution company for waste
gasification to energy projects, is pleased to announce that its
wholly owned subsidiary, EQTEC Iberia SLU, has received approval
from LERMAB (the University of Lorraine's research laboratory on
wood material) to carry out tests utilising Refuse Derived Fuel
("RDF") at the Feedstock Research and Demonstration Plant (the
"Plant") built in collaboration with EQTEC, located at the
University of Lorraine ("UL"), in France.
The Company believes that the ability to test RDF as a feedstock
in the UL Plant is of significant importance, as it should provide
EQTEC with accurate operational data on the behaviour of project
specific types of RDF, which the Company can then share with, inter
alia, both potential and existing project partners, funders and
stakeholders. EQTEC considers that such operational data is
critically important in order to widen the number of potential
providers of project funding and it could potentially reduce the
timeline to financial close by enabling a commercial understanding
of the feedstock at an earlier stage in the project process. In
addition, the Company anticipates that access to the data can
assist in reducing the cost of insurance backed premiums in
relation to performance warranties. For these reasons, the Company
believes that this will lead to increased demand for its
technology.
EQTEC has been collaborating with Doctor Yann Rogaume from
LERMAB, as well as UL's Engineering School, ENSTIB (National School
of Wood Technologies and Industries), since 2012. In 2014, EQTEC's
proprietary gasifier technology was selected as the technology for
the Plant testing facility, which was built in 2015 having been
financed from French and European public funds.
Several tests have been carried out since 2016 on various
biomass fuels. During 2019, following an upgrade, the Plant was
also utilised for RDF tests by blue chip operators in the waste
sector, such as TIRU, a subsidiary of EDF Group specialising in
waste recovery. These RDF tests were conducted under the auspices
of the 'Terracotta Project', in which the Company was involved
alongside EDF, the French National Centre for Scientific Research
(CNRS), TIRU and UL. The aim of the 'Terracotta Project' has been
to assess the feasiblity of RDF gasification at an industrial
scale, the results of which have been positive to date.
Yoel Aleman, CTO of EQTEC, commented:
"We are excited that this important RDF testing capability has
been approved at Lorraine University. We believe that this will
deepen and strengthen our relationship with universities and
research centres committed to finding energy from waste solutions,
which are both commercially viable and environmentally sound,
through the use of our EGT technology. The skills and experience at
LERMAB are world class and this collaboration should continue to
bring value by reassuring strategic partners and operators in the
space about the capabilities of our technology. We are very proud
of LERMAB's and the University of Lorraine's continued endorsement
of our technology."
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 21 2409 056
David Palumbo / Gerry Madden
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
James Harris / James Dance / Jack Botros
SI Capital Limited - Broker +44 1483 413 500
Nick Emerson / Jon Levinson
IFC Advisory - Financial PR & IR +44 20 3934 6630
Tim Metcalfe / Graham Herring / Zach
Cohen
Notes to Editors
About EQTEC plc
EQTEC is the technological solution partner for converting waste
to clean energy.
EQTEC mission is to provides sustainable technological solutions
to address two of the world's greatest challenges: managing rising
levels of waste and meeting the growing demand for clean
energy.
EQTEC's business model involves sourcing and providing
assistance in developing waste elimination projects which will
convert waste into clean energy, 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.
EQTEC also seeks to provide Operation & Maintenance services
to established operating co-generation plants 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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END
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