MetalNRG PLC Italian Waste to Energy Plant Update (1869Q)
October 26 2021 - 2:00AM
UK Regulatory
TIDMMNRG
RNS Number : 1869Q
MetalNRG PLC
26 October 2021
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2018 ("EUWA")) ("UK MAR").
26(th) October 2021
METALNRG plc
("MetalNRG" or the "Company")
Italian Waste to Energy Plant Recommissioning Update
MetalNRG plc, (LON:MNRG), the natural resources and energy
investment company, is pleased to provide an update on progress
being made on the recommissioning of EQTEC Italia MDC
waste-to-energy plant.
MetalNRG is part of a consortium of co-investors, led by EQTEC
plc (AIM: EQT) ("EQTEC"), which recently formalised the intention
to recommission the 1 MW biomass-to-energy plant in Tuscany,
Italy.
The facility, originally commissioned in 2015, is built around
EQTEC Advanced Gasification Technology and when operational, Italia
MDC will transform straw and forestry wood waste sustainably
sourced from local farms and forests into green electricity and
heat for the local community.
EQTEC recently stated that recommissioning of the project is
continuing on track, with recent developments including that:
-- the EQTEC technical team has been on site, completing
engineering surveys, as well as meeting EPC partners and local
stakeholders;
-- the site has been fully cleaned;
-- disassembly of relevant components was completed earlier this month; and
-- EQTEC Advanced Gasification Technology and associated
technology items, including the syngas filter, water treatment
unit, heat exchanges and thermal cracker reactor burner, have now
been ordered and deliveries are due to start arriving in late
November.
We announced to the market at the financial close of this
transaction that we expected the plant to be fully recommissioned
by Q2 2022. We are confident, at this stage of proceedings, that
this announced time-line will be maintained. We expect to provide
another update on progress to the market in early 2022.
A series of pictures can be viewed on the Company's web site,
www.metalnrg.com .
The release of this information was arranged by Rolf Gerritsen,
Chief Executive Officer.
END
Contact details:
MetalNRG PLC
Rolf Gerritsen
Christopher Latilla-Campbell +44 (0) 20 7796 9060
Corporate Adviser
PETERHOUSE CAPITAL LIMITED
Lucy Williams/Duncan Vasey +44 (0) 20 7469 0930
----------------------
Corporate Broker
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
----------------------
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