TIDMEQT
RNS Number : 1189Q
EQTEC PLC
24 June 2022
24 June 2022
EQTEC plc
("EQTEC", the "Company" or the "Group")
Collaboration with Anaergia Inc. for EPC and O&M at
Southport Project
EQTEC plc (AIM: EQT), a world-leading technology innovation
company enabling the Net Zero Future through advanced solutions for
hydrogen, biofuels, SNG and other energy production , is pleased to
announce that, through its wholly owned subsidiary, Southport WTV
Limited, and its partners Rotunda Group Limited ("Rotunda") and
Rotunda's subsidiary, Shankley Biogas Limited (the "Project SPV"),
the Project SPV has entered into a co-operation agreement (the
"Agreement") with Anaergia Inc. ("Anaergia") for construction and
operation of a multi-technology, waste-to-energy facility at
Southport Hybrid Energy Park, Merseyside, UK (the "Plant").
The Plant includes an Anaergia waste processing facility that
will accept 80,000 tonnes of pre-processed municipal solid waste
("MSW") waste per year to both recover organics produce
refused-derived fuel ("RDF") as well as an Anaergia anaerobic
digestion facility that is designed to convert the recovered
organics into six million cubic metres of biomethane per year, to
be injected into the national gas transmission system. Through
combined heat and power ("CHP") engines, the Plant will also pull
gas from the grid to generate 9MWe for export to the national
electricity transmission system. The Plant design also includes a
2MW battery storage facility.
Under the Agreement, Anaergia are to undertake a full
Engineering, Procurement & Construction ("EPC") role for the
Plant based on a fixed price, lump sum contract for the capital
works scope as well as a separate, minimum five-year contract to
Operate & Maintain ("O&M") the Plant. The establishment of
these two key relationships-for the EPC for the Project and for the
O&M for the Plant-is critical for completing development and
moving into the next phase of the Project.
The Company, which is leading development of the Plant, intends
in a future phase of work, subject to planning, to add EQTEC
Advanced Gasification Technology that could convert 25,000 tonnes
of RDF per year, supplied by the Plant's waste processing facility,
into an estimated 2.5 - 3.0MWe of clean electricity. The Company is
further exploring the option of producing clean hydrogen at the
Plant, by applying its own synthesis gas ("syngas") technology
together with syngas-to-hydrogen technology provided by a
technology partner.
Together, the full Plant facilities are expected to export to
the grid the equivalent of 20% or more of Southport's energy
requirement.
David Palumbo, CEO, EQTEC, commented:
"Anaergia has been a great partner at our Deeside project, and
we are very happy to be co-developing Southport with them as well.
We are even happier they are bringing their EPC and O&M
capabilities to the Project, to complement their world-class
technologies. The future of renewable energy beyond fossil fuels
will be a mixed economy, and the Deeside and Southport plants will
demonstrate that. These projects are at the cutting edge of clean,
waste-to-energy and hydrogen innovation in the UK. We look forward
to these and future opportunities with Anaergia to demonstrate
successful, sustainable cleantech in practice."
Simon Christian, MD of Anaergia UK, commented:
"Anaergia are excited to be involved in another opportunity to
combine Anaergia's industry-leading organics recovery capabilities
with EQTEC's advanced gasification expertise on the Southport
project. The MSW "Fines" (or "Trommel Fines") that this facility
will process are a huge challenge to the UK waste industry, but
Anaergia's unique processing technologies - particularly the
OREX(TM) extrusion press - mean organics can be recovered from this
difficult material and converted into useful resources."
Further information about the Project
EQTEC is co-developer and gasification technology provider to
the Project, working in partnership with Rotunda Group and its
subsidiary Shankley Biogas at Watts Industrial Estate, Southport
Hybrid Energy Park, Crowland Street, Southport, Merseyside, UK. In
September 2021, the Company entered into a conditional Share
Purchase Agreement to acquire full ownership of Shankley Biogas and
the Project from Rotunda.
A forthcoming, additional permission would create the potential
for development of an enhanced waste-to-energy solution applying
EQTEC Advanced Gasification Technology to the Project. Further, and
as announced on 01 February 2022, the Company and Rotunda are
assessing the potential for a third phase to the Project, that
would deploy an additional, and potentially larger gasification
facility near the current Southport site.
EQTEC expects to act as the Project developer for all aspects of
the Southport project, providing the design and core Advanced
Gasification Technology and retaining a portion of the O&M
contract upon commissioning. As the Project matures toward
financial close, the Company intends to sell a majority equity
position on the Project SPV and invoice that SPV for development
services provided.
The Project will directly address the challenges of waste
reduction and the need for clean energy, while also creating local
jobs.
This announcement contains inside information as defined in
Article 7 of the EU Market Abuse Regulation No 596/2014, as it
forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018, as amended, and has been announced in
accordance with the Company's obligations under Article 17 of that
Regulation.
ENQUIRIES
EQTEC plc +44 203 883 7009
David Palumbo / Nauman Babar
-----------------------
Strand Hanson - Nomad & Financial Adviser +44 20 7409 3494
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James Harris / Richard Johnson
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Arden Partners - Joint Broker +44 20 7614 5900
-----------------------
Ruari McGirr (Corporate) / Simon Johnson
(Sales)
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Canaccord Genuity - Joint Broker +44 20 7523 8000
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Henry Fitzgerald-O'Connor / James Asensio
/ Patrick Dolaghan
-----------------------
Alma PR - Financial Media & Investor
Relations +44 20 3405 0205
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Josh Royston / Sam Modlin / Matthew EQTEC@almapr.co.uk
Young
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+44 (0) 20 7457 2381
Instinctif - General Media Enquiries / +44 (0) 7887 884794
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Chris Speight / Tim Field EQTEC@instinctif.com
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About EQTEC plc
As one of the world's most experienced gasification technology
and engineering companies, with a growing track record of
delivering operational and commercial success for transforming
waste-to-energy through best-in-class technology innovation,
engineering and project development , EQTEC brings together design
innovation, project delivery discipline and solid commercial
experience to add momentum to the global energy transition. EQTEC's
proven, proprietary and patented technology is at the centre of
clean energy projects, sourcing local waste, championing local
businesses, creating local jobs and supporting the transition to
localised, decentralised and resilient energy systems.
EQTEC designs, supplies and builds advanced gasification
facilities in the UK, EU and US, with highly efficient equipment
that is modular and scalable from 1MW to 30MW. EQTEC's versatile
solutions process over 50 varieties of feedstock, including
forestry wood waste, vegetation and other agricultural waste from
farmers, industrial waste and sludge from factories and municipal
waste, all with no hazardous or toxic emissions . EQTEC's solutions
produce a pure, high-quality synthesis gas ("syngas") that can be
used for the widest range of applications, including the generation
of electricity and heat, production of synthetic natural gas
(through methanation) or biofuels (through Fischer-Tropsch,
gas-to-liquid processing) and reforming of hydrogen.
EQTEC's technology integration capabilities enable the Group to
lead collaborative ecosystems of qualified partners and to build
sustainable waste reduction and green energy infrastructure around
the world.
The Company is quoted on AIM (ticker: EQT) and the London Stock
Exchange has awarded EQTEC the Green Economy Mark, which 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
.
About Anaergia
Anaergia was created to eliminate a major source of greenhouse
gases ("GHGs") by cost effectively turning organic waste into
renewable natural gas ("RNG"), fertilizer and water, using
proprietary technologies. With a proven track record from
delivering world leading projects on four continents, Anaergia is
uniquely positioned to provide end-to-end solutions for extracting
organics from waste, implementing high efficiency anaerobic
digestion, upgrading biogas, producing fertilizer and cleaning
water. Anaergia's customers are in the Municipal Solid Waste,
Municipal Wastewater, Agriculture, and Food Processing industries.
In each of these markets Anaergia has built many successful plants
including some of the largest in the world. Anaergia owns and
operates some of the plants it builds, and it also operates plants
that are owned by its customers.
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END
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