TIDMEQT
RNS Number : 5913N
EQTEC PLC
26 September 2023
26 September 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Project update:
Successful completion of feasibility work at Biogaz Gardanne
EQTEC plc (AIM: EQT), a global technology innovator powering
distributed, decarbonised, new energy infrastructure through its
waste-to-value solutions for hydrogen, biofuels, and energy
generation is pleased to announce that EQTEC France SAS ("EQTEC
France") and its partners have successfully completed a technical
and commercial feasibility (the "Feasibility") toward deployment of
EQTEC solutions at the site of the former Gardanne power station
(the "Project"). Completion of the Feasibility represents a
critical step toward commencement of development and design work on
what is expected to be a waste-to-renewable natural gas ("RNG")
facility enabled by EQTEC's advanced syngas technology.
Through the Feasibility, awarded to and announced by the Company
in March 2023, the Group and its partners reviewed feedstock and
offtake markets and evaluated four potential technology and
engineering solutions. Together with French development consultants
S3D Ingénierie SAS ("S3D"), the Group concluded that a facility
processing c. 80,000 tonnes per year of industrial waste wood Grade
B would be optimal for sustainable production of RNG and generate a
healthy return on investment. The Project is targeting deployment
of an integrated solution applying EQTEC's syngas technology with
global engineering leader and EQTEC partner Wood's VESTA
methanation technology.
The Group expects initial front-end engineering design work (the
"pre-FEED") for the Project to commence in the coming weeks, for
which it expects to bill c. EUR250,000 for engineering services.
Subject to completion of that work, the Company anticipates that it
would lead full, front-end engineering design ("FEED") work,
estimated by the Company to be worth at least EUR750,000 in fees,
with the majority to be invoiced over the first half of 2024.
On 20 September 2023, EQTEC France and S3D presented their
findings and recommendations to members of the French government
and central administration, including the Cabinet of the Energy
Transition Minister and the General Secretariat for Investment,
which is overseen by the Prime Minister (the "Officials"). The
Group received reassurance from the Officials that the Project
enjoys a strong place on the French government's energy transition
agenda for the Provence Alpes Côte d'Azur ("PACA") region and that
the Group will have opportunities for further support from the
French government at national and regional levels as it seeks to
secure further funding for the Project company ("Biogaz
Gardanne").
Practically, the Officials encouraged the Group to prepare its
application to secure one of a limited number of feed-in tariffs
for RNG injection into the gas network operated by GRTgaz SA
("GRTgaz"), the French natural gas transmission system operator.
Additionally, the Officials supported the Group's intent to pursue
grant funding under the Synthetic Biomethane funding programme, due
for launch in the coming months.
The Group has filed a formal request for Biogaz Gardanne to be
registered into the national grid capacity register, an act that
would establish the Project's legal access to the GRTgaz network.
In parallel, and toward securing additional funding for subsequent
phases of the Project, the Group has approached a number of utility
companies in France to gauge their interest in the Project.
On 16 October 2023, EQTEC France is scheduled to meet with local
stakeholders at the PACA prefectural authority to present the
outcomes of the Feasibility and the Group's perspectives on the
Project.
The Company continues to work closely with Wood on engineering
work for an integrated syngas-methanation solution for the
Project.
David Le Saint, EQTEC France Managing Director, commented:
"With successful completion of the Feasibility, momentum is
growing for the Project in terms of solution development, political
support and investment attractiveness. Whilst we have already
enjoyed support from all levels of French government, we are
gaining traction also with private-sector investors looking to
invest in new energy infrastructure that is clean and fits well
with the direction of French policy. With the RNG tariffs for
France due to be announced and with the healthy pace of work on
this Project, I am confident we will secure a tariff, along with
critical permits that move us closer to making Biogaz Gardanne a
reality."
Jeff Vander Linden, EQTEC Group COO, commented:
"France has emerged as a reliable and enthusiastic supporter of
technologies for the future of clean energy, including EQTEC's, and
the Biogaz Gardanne project is clear evidence of that. France's
rejection of coal-based energy generation, supported by policy and
funding toward alternatives, give this project the motivation it
needs to succeed. More than that, it indicates that with the right
sponsorship and partners, EQTEC can make steady progress toward
deploying its proven, patented technology in more places, more
often."
ENQUIRIES
EQTEC plc
David Palumbo / Nauman Babar +44 20 3883 7009
Strand Hanson - Nomad & Financial
Adviser
James Harris / Richard Johnson +44 20 7409 3494
Panmure Gordon - Broker
John Prior / Hugh Rich +44 20 7886 2500
Instinctif - Media & investor relations EQTEC@instinctif.com
enquiries +44 791 717 8920 / +44 788
Guy Scarborough / Tim Field 788 4794
About the project
Gardanne, also known as the Provence power station, was an 850
MWe coal-fired power station owned by Gazel Energie France, the
fourth largest provider of electricity and gas in France and a
wholly owned subsidiary of Czech multinational energy
infrastructure owner-operator Energetický a pr myslový holding,
a.s. ("Group EPH"). Following its July 2019 acquisition of Gardanne
and other assets previously owned by Uniper France, which coincided
with the French government's pledge to phase out coal power by
2022, Group EPH closed the plant at the end of 2020 and in 2022
reopened part of the plant as a 150 MWe biomass incineration
facility.
The Group was appointed in March 2023 by the French national
government via the Préfet de la Région Provence-Alpes-Côte-d'Azur
(the "Prefecture") to lead a technical and commercial feasibility
on the site of a decommissioned, coal-fired power station in
Meyreuil, Aix-en-Provence, Bouches-du-Rhône, France (the
"Site").
The Feasibility was fully funded by national and regional
governments under the Pact for Ecological and Industrial Transition
of Gardanne-Meyreuil with an initial budget granted to EQTEC France
of EUR1 million. EQTEC France SAS led the work, which explored the
technical and commercial viability of a potential facility built
around EQTEC technology, with particular interest in production of
renewable natural gas from a variety of wood waste types.
In July 2023, the Company confirmed it had successfully
completed steam-oxygen gasification tests in partnership with the
Energy from Biomass and Wastes ("ERBE") team, part of the
Laboratoire d'Etudes et de Recherche sur le Matériau Bois
("LERMAB") at Université de Lorraine ("UL") in Epinal, France, as
part of the Feasibility. The Tests confirmed that similar results
to those achieved with EQTEC steam-oxygen gasification technology
at the LERMAB facility can be directly applied at commercial scale,
for the Project and other plants seeking to produce advanced
biofuels.
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
.
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