TIDMEQT
RNS Number : 8732R
EQTEC PLC
11 March 2021
11 March 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
Collaboration Framework Agreement with Toyota Motor
Manufacturing UK
EQTEC plc (AIM: EQT), a world leading gasification technology
solutions company for sustainable waste-to-energy projects , is
pleased to announce that it has signed a Collaboration Framework
Agreement (the "Agreement") with Toyota Motor Manufacturing (UK)
Limited ("Toyota").
The Agreement will be in place through EQTEC's wholly owned
subsidiary, Logik WTE Limited (the "Project SPV"), the existing
project SPV for the Deeside Refuse Derived Fuel project (the
"Deeside RDF Project") in Flintshire, Wales . The Company is
currently progressing a portfolio of advanced, waste-to-energy
plant development projects across the UK, of which the Deeside RDF
Project is one.
Highlights
-- Through the Deeside RDF Project, EQTEC and Toyota (the
"Parties") have agreed to collaborate to explore an innovative,
circular and sustainable waste-to-energy solution for Toyota's
engine manufacturing plant in Deeside;
-- The Parties have entered into a formalised Collaboration
Framework Agreement toward scoping and evaluating the potential
supply of bio-methane gas and green electricity and conversion of
manufacturing waste through the sharing of cost data, energy usage
and other information;
-- The duration of the Agreement is three years;
-- It is expected the Parties will collaborate and assess the
ability to develop a Project at Toyota's Deeside site; and
-- If adopted, EQTEC's waste-to-energy solution could reduce the
carbon footprint of the Toyota site on an annual basis.
Toyota and EQTEC will work together towards the possibility of
establishing a supply of power and gas to the Toyota engine
manufacturing site through the construction and commissioning of
the Deeside RDF Project that is adjacent to the Toyota site . It is
expected that the Deeside RDF Project will transform municipal,
commercial and industrial waste. It will produce green bio-methane
gas from the organic proportion of the waste with anaerobic
digestion technology and convert the RDF portion of the waste,
which would typically be destined for landfill or incineration, to
generate green electricity, using EQTEC's Advanced Gasification
technology and solutions.
Pursuant to the Agreement, the Parties will also identify the
waste viability of reducing Toyota's non-recyclable waste and
potentially converting some or all of the waste into energy,
through the dual, waste-to-energy approach, to be developed at the
Deeside RDF Project.
The Deeside RDF Project seeks to provide the local community,
Toyota and other potential users with a decentralised energy
source. It is intended that EQTEC will act as the land developer
and technology provider for the plant.
David Palumbo, CEO of EQTEC, commented:
"Toyota has always been a leader in innovation and we are
delighted to support and work with them on a localised sustainable
waste-to-energy solution. This partnership further demonstrates the
capabilities and applications of EQTEC's advanced gasification
solutions and enhances our already strong pipeline of projects in
development."
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
------------------------------
Arden Partners - Broker +44 20 7614 5900
------------------------------
Paul Shackleton (Corporate) / Simon Johnson
(Sales)
------------------------------
Maitland/AMO - Communications & PR/IR adviser +44 20 7379 5151
------------------------------
James Benjamin / Rhys Jones EQTEC-maitland@maitland.co.uk
------------------------------
About EQTEC plc
As the world's leading experts in gasification for sustainable
waste-to-energy projects, EQTEC is building the future of the
sector, combining its technology innovation and engineering with
expert plant construction and project deliveries, to help drive the
global energy transition. EQTEC's proven, proprietary and patented
technology is at the centre of projects that aim to enhance local
communities and champion local businesses with an improved
environmental impact.
EQTEC designs and supplies advanced gasification solutions that
have a higher efficiency product offering and are modular and
scalable from 1MW to 30MW. 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
.
Existing EQTEC plants and sustainable waste-to-energy market
opportunities
To date, four commercial plants have been built and are using
EQTEC's advanced gasification technology. The oldest such plant,
built in 2011, has operated for over 125,000 independently audited
engine hours, receiving highly commendable feedback from leading
gas engine company Jenbacher relating to purity of the syngas,
reliability and efficiency.
EQTEC's technology and solutions have, in the Board's view, the
potential to become a new UK and global standard for many
traditional waste-to-energy facilities to collaborate with,
reducing reliance on increasingly less attractive waste elimination
methods and delivering new resilient and locally based clean energy
infrastructure across the UK and internationally.
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