TIDMEQT
RNS Number : 6679U
EQTEC PLC
27 November 2023
27 November 2023
EQTEC plc
("EQTEC", the "Company" or the "Group")
Collaboration Framework Agreement with Tresca Energía
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 it has signed a
Collaboration Framework Agreement (the "Agreement") with Tresca
Energía S.A. ("Tresca"), a Spain-based engineering group,
infrastructure developer and project manager with a particular
interest in applying EQTEC technology to advanced biofuels
solutions. The Agreement specifically identifies a first project
for the collaboration, which would be a facility in Castilla y
León, Spain (the " Project") that would convert approximately
50,000 tonnes per year of biomass into renewable natural gas
("RNG"). The Project, which currently is progressing its
feasibility phase, has already secured interest from a main Spanish
bank to provide the funding together with offtake terms from a
large gas grid operator.
Through the Agreement, the Company and Tresca (together, the
"Parties") will collaborate on joint development and qualification
of pipeline opportunities through integrated teams that combine
EQTEC's technology and engineering capabilities with Tresca's
expertise developing renewable energy projects and its access to
funders, infrastructure investors and offtakers. The Parties have a
particular interest at present in pursuing projects focused on RNG
or methanol generation from synthesis gas ("syngas") produced
through EQTEC's patented and proprietary technology.
Tresca is a development, project management and engineering
company with 20 years' experience managing infrastructure projects
across more than 30 countries in Europe, South America, Africa, the
Middle East and Asia. It is active in energy, hydrogen technology,
chemistry and several other complementary sectors. The Company
views Tresca as a strong, go-to-market partner for Spain and other
geographies where there is a growing need for professional
development and project management in the burgeoning sector for
syngas-based renewable energy.
David Palumbo, CEO of EQTEC, commented:
"We have already noted that our go-to-market focus will
increasingly shift from geography per se, toward strong, capable
partners able to mobilise funding and apply professional
disciplines for stable, steady progress with projects integrating
EQTEC technology. We see Tresca as another such partner, with its
long track record of successful and steady growth across a number
of sectors in a number of geographies. We are delighted to cement
this Agreement with Tresca, especially with at least one project
already in mind for active collaboration with them in the near
future. For EQTEC, this Agreement represents another step forward
with our strategy of safeguarding our role as innovator and
technology licensor, with another partner who can assure our
technology is professionally deployed for maximum impact as new
energy infrastructure."
Francisco Carro, CEO of Tresca Energía, commented:
" We are pleased to formalise this cooperation. Tresca has a
growing capability to build facilities that produce biomethane by
converting biomass to syngas, so our need for technologies that can
do this reliably is growing. We are convinced that EQTEC will
provide us with a modular and scalable capability that we can
replicate in many of our future projects, starting with a
biomass-to-RNG plant near our base in León, Spain ."
ENQUIRIES
EQTEC plc
David Palumbo / Jeffrey Vander Linden +44 20 3883 7009
Strand Hanson - Nomad & Financial Adviser
James Harris / Richard Johnson +44 20 7409 3494
----------------
Global Investment Strategy UK Ltd - Joint
Broker
Samantha Esqulant +44 20 7048 9045
----------------
Fortified Securities - Joint Broker
Guy Wheatley +44 20 3411 7773
----------------
Panmure Gordon - Joint Broker
John Prior / Hugh Rich +44 20 7886 2500
----------------
About Tresca Energía
Tresca Energía S.A., based in León, Spain, is an engineering,
project development and project management company with the mission
of supporting its clients in responding to industry challenges, by
anticipating and managing change, to lead industrial and energy
change and transformation processes for its clients. Founded in
2001, Tresca has offices also in Madrid and Asturias, Spain, with
projects across Europe, South America, Africa, the Middle East and
Asia.
Tresca's clients include investment funds, large-scale
industrials, chemical & pharmaceutical companies,
owner-operators in the energy sector, oil & gas companies,
glass & ceramics companies, cement & mining businesses,
metallurgy and steel manufacturers, hydrogen producers and biotech
companies. Tresca's services include feasibility work, project
development, financial modelling, procurement management, project
management, balance of plant engineering, site and construction
management, commissioning services and a range of digital
technology services across the project lifecycle.
In recent years, Tresca has become one of the main actors in
terms of projects associated with decarbonisation and new energy
technologies on the Iberian peninsula.
Tresca has established a particular expertise with designing and
developing plants that extract methane from syngas to produce
biomethane or RNG or reform it into methanol. This focus is
especially relevant for EQTEC, whose advanced syngas technology
produces an especially high quality syngas that can maximise the
methane component from a wide variety of feedstocks.
Tresca and EQTEC will collaborate on opportunity generation, but
more specifically on qualification, development and commissioning
of advanced biofuels plants that utilise EQTEC's patented and
proprietary syngas technology.
About EQTEC
As one of the world's most experienced thermochemical conversion
technology and engineering companies, EQTEC delivers waste
management and new energy solutions through best-in-class
innovation and infrastructure engineering and value-added services
to owner-operators. EQTEC is one of only a few technology providers
directly addressing the challenge of replacing fossil fuels for
reliable, baseload energy. 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, specifies and delivers clean, syngas production
solutions in the USA, EU and UK, with highly efficient equipment
that is modular and scalable from 1MW to 30MW. EQTEC's versatile
solutions process 60 varieties of feedstock, including forestry
waste, agricultural waste, industrial waste and municipal waste,
all with no hazardous or toxic emissions. EQTEC's solutions produce
a pure, high-quality syngas that can be used for the widest range
of applications, including the generation of electricity and heat,
production of renewable 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 the London Stock Exchange's Alternative
Investment Market (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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