TIDMEQT
RNS Number : 9991K
EQTEC PLC
08 January 2021
8 January 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
Memorandum of Understanding with Nobilis Pro Energy of
Greece
and continuation of successful partnership with ewerGy GmbH of
Germany
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable energy-from-waste projects, is
pleased to announce that, together with its German EPC partner
ewerGy GmbH ("ewerGy"), the Company has signed a Memorandum of
Understanding (the "MoU") with Nobilis Pro Energy S.A. ("Nobilis"),
a private Greek company with a strong track record in the planning
and construction of metal structures, metal buildings and other
complex structures in Greece and abroad. As an established
supporter of the waste-to-energy proposition, Nobilis has for many
years researched options for waste treatment at olive mills and
wineries and has received a licence and key permissions for a
0.9MWe gasification plant in Almyros, Greece (the "Almyros
Plant").
The MoU provides for the collaborative development of Nobilis's
existing pipeline of opportunities in Thessalia and Central Greece
and for the proposed delivery of these and further advanced
gasification projects, starting with the Almyros Plant.
The collaboration will be underpinned by a joint venture between
EQTEC and ewerGy (the "JV"). The MoU, which will be formalised
contractually, envisages that project SPVs will be established for
each project opportunity taken forward by the parties, with the JV
being the majority shareholder of each SPV and Nobilis as the
minority shareholder. Each project will be subject to, inter alia,
definitive agreements, funding and the granting of relevant
permissions. The MoU sets out that Nobilis will be expected to
provide the project pipeline, whilst the JV will be expected to
source and provide project funding and project delivery
capabilities (EQTEC will provide the design and core gasification
technology and ewerGy will provide EPC services).
The Board of EQTEC believes that the MoU underlines the growing
momentum behind EQTEC's collaboration with ewerGy, the German
energy equipment and solutions company and developer of renewable
energy projects. The MoU follows EQTEC's announcements in March
2020, detailing the partners' collaboration framework agreement and
pipeline of 11 opportunities in Greece for the construction of
advanced gasification facilities, and in August 2020, detailing the
financial close of the fully permitted 0.5MWe waste gasification
project in Larissa - Greece's first waste-to-energy gasification
plant - alongside ECO Hellas SA, ewerGy's local EPC partner, and
Agrigas Energy SA, the Greece based promoter and project developer
that will own and operate the plant in Larissa.
David Palumbo, CEO of EQTEC, commented :
"We are pleased to be on track for the development of another
advanced gasification plant in Greece. Through our relationship
with Nobilis, we expect to develop a pipeline of sustainable waste
to energy projects in Greece that will benefit from EQTEC's
advanced biomass gasification as a great solution for clean energy
generation. The MoU also highlights the growing strength of our
partnership with ewerGy, as we pursue a growing pipeline of
opportunities in Greece and across the Balkans. This 'strong
partner' model is fundamental to EQTEC as we further expand our
business development and project delivery reach."
La m bros Apostolopoulos, CEO of Nobilis, commented :
"We are enthusiastic about our collaboration with EQTEC and
ewerGy. Greece has an enormous, but very little exploited,
potential for green power investments. We have been looking forward
to developing this project at Almyros for many years, seeking to
provide solutions for our established and growing pipeline of
sustainable waste management projects in the region of Thessalia
and Central Greece. We are pleased at the prospect of this project
being implemented, as we expect that it will enable the recovery of
clean energy and deliver economic value from waste in the region.
Our partners EQTEC and ewerGy have vast technological know-how and
expertise in advanced gasification and we are confident that our
partnership will deliver attractive investment opportunities in the
waste-to-energy market."
Gerd Kromarck, CEO of ewerGy, commented:
"We are very pleased to take another step together with our
partner EQTEC in this JV and the potential for shared ownership in
another exciting project. We see Nobilis as a company that sets and
successfully achieves its goals, so we are delighted to enter into
this MoU with them. We would also like to thank our partner ECO
HELLAS for its support in making such collaborations possible in
Greece."
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
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Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
------------------------------
James Harris / James Dance / Jack Botros
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Arden Partners - Broker +44 20 7614 5900
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Paul Shackleton (Corporate) / Simon Johnson
(Sales)
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Maitland/AMO - Communications & PR/IR adviser +44 20 7379 5151
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James Benjamin / Rhys Jones EQTEC-maitland@maitland.co.uk
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About EQTEC plc
EQTEC is a world leading advanced gasification technology
partner with proven proprietary patented technology for sustainable
waste - to -value applications.
EQTEC designs and supplies advanced gasification solutions that
have a higher efficiency product offering and are modular and
scalable from 1MW to 25MW. EQTEC's versatile solutions are
independently proven to process over 50 different types of
feedstock, including municipal waste, agricultural waste, biomass
and plastics with no hazardous waste or toxic emissions . EQTEC's
solutions produce a uniquely pure high-quality synthesis gas
(syngas), that is capable of being used for the widest applications
in the creation of energy , hydrogen and biofuels .
EQTEC's proprietary technology design together with deployment
and maintenance capabilities mitigate the risks when using third
party equipment. EQTEC's Technology Integration capabilities enable
the Group to lead collaborative ecosystems that build sustainable,
waste elimination and green energy infrastructure.
The Company is quoted on AIM (ticker: EQT) and the London Stock
Exchange awarded EQTEC the Green Economy Mark that recognises
listed companies with 50% or more of revenues from
environmental/green solutions.
Further information on the Company can be found at
www.eqtec.com
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