REG - EQTEC PLC - Collaboration Framework Agreement in the USA

EQTECAnnouncement

05/11/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241105:nRSE8974Ka&default-theme=true

RNS Number : 8974K  EQTEC PLC  05 November 2024

5 November 2024

EQTEC plc

("EQTEC", the "Company" or the "Group")

 

Collaboration Framework Agreement in the USA with Simonpietri Enterprises LLC

 

EQTEC plc (AIM:EQT), a leading licensor and innovator of syngas technology for
clean conversion of the world's waste into sustainable energy and biofuels, to
power the circular economy, is pleased to announce that it has entered into a
Collaboration Framework Agreement (the "CFA") with Simonpietri Enterprises LLC
("SEL"), a Hawaii-based developer of innovative project solutions to re-use
and recycle waste into sustainable products that reduce lifecycle greenhouse
gas emissions for the agriculture, energy, and transportation sectors.

The purpose of the partnership is to jointly develop advanced waste-to-value
projects to be owned and operated by SEL, that will deliver both environmental
and economic benefits. By combining SEL's deep expertise in project
development, community engagement, and local market knowledge with EQTEC's
proven syngas technology, the collaboration aims to address critical waste
management challenges while producing clean, renewable energy and fuels. The
partnership is expected to benefit both companies by expanding their market
presence, driving innovation, and creating new opportunities for intellectual
property development. In addition, the collaboration will have a significant
positive impact on the sector by demonstrating the viability of modular and
localised, waste-to-Renewable Natural Gas ("RNG") and Combined Heat and Power
("CHP") solutions in the U.S. market, particularly in the Pacific and
Northwest regions.

 

Summary of Projects being pursued under the CFA:

·    Aloha Sustainable Materials Recycling and Fertilizer Facility (Aloha
SMRFF) in Kapolei, Hawaii: 2 tonnes per hour system, targeting the
transformation of 50,000 tonnes of construction, demolition, and landscaping
debris per year into energy to power an organic fertilizer manufacturing
plant. Stage: Front-End Loading ("FEL") 3 Front-End Engineering Design (FEED)
completed, site secured, and Environmental Assessment completing public
comment period with 100% comments to date in support of the project. EQTEC
started FEL 3 (FEED) work in September 2024 for a value of €380,000 with an
expected delivery program of 4 months with the majority of the revenues
expected in 2024.

 

·     Aloha Carbon Honolulu RNG in Kapolei, Hawaii: Size: 20 tonnes per
hour system, capable of processing 350,000 tonnes of waste per year into RNG.
 Stage: FEL-2 design completed, site secured. EQTEC submitted a FEL3 (FEED)
proposal valued at c. €1.0 million with a delivery programme of 5 months and
is awaiting feedback.

 

·     Aloha Carbon Tacoma RNG (Tacoma, Washington): Size: 20 tonnes per
hour system, designed to handle up to 350,000 tonnes of waste annually. Stage:
FEL-0, site and feedstock and offtake identified.

 

Joelle Simonpietri, CEO of Simonpietri Enterprises, commented:

 

"We were fortunate to be able to spend two weeks of due diligence in Europe
with EQTEC's team that included a number of technical sessions in Barcelona, a
visit to the Movialsa plant in Spain, a visit to the Agrigas plant in Larissa,
Greece, and a testing programme at the LERMAB R&D facility in France. We
were able to observe gasification operations on difficult agricultural wastes
like high-silica straw, as well as industrial waste such as mixed
post-consumer plastic waste. I am highly impressed by EQTEC's technology and
the professionalism, experience and capabilities of their team. This
collaboration marks a significant milestone for SEL as we work to address
critical energy and waste management challenges in Hawaii and the U.S. Pacific
Northwest. EQTEC's advanced gasification technology is a great fit for our
projects, and we are confident that together we will deliver innovative,
impactful solutions. By integrating EQTEC's proven technology with our project
development expertise, we will unlock new possibilities for waste valorisation
and renewable fuel and recycled-material products manufacturing."

 

David Palumbo, CEO of EQTEC, commented:

 

"We are delighted to formalise our partnership with Simonpietri Enterprises, a
company that shares our vision for the energy transition. We were particularly
impressed with the extensive expertise of the SEL team, not only in the
commercial development of these projects but also in their deep level of
community engagement. They have demonstrated a real commitment to bringing to
life projects that will make a lasting difference to local communities. In
addition, SEL's team has significant technical expertise, including know-how
and intellectual property in areas of the plants that are highly complementary
to EQTEC's technology. We are excited about the potential to develop new
know-how and IP together as we collaborate on these innovative waste-to-energy
solutions."

 

ENQUIRIES 

 

 EQTEC plc                                        +44 20 3883 7009 

 David Palumbo

  
 Strand Hanson - Nomad & Financial Adviser        +44 20 7409 3494 

 James Harris / Richard Johnson 

  
 Shard Capital Partners LLP - Broker              +44 20 7186 9927

 Damon Heath / Isabella Pierre

 Fortified Securities - Broker                    +44 20 3411 7773 

 Guy Wheatley 

  
 Global Investment Strategy UK Ltd - Broker       +44 20 7048 9045 

 Samantha Esqulant 

  

 

About EQTEC

 

EQTEC is one of only a few circular economy technology providers able to
address the dual challenges of growing quantities of global waste and the
growing demand for energy and biofuels. EQTEC cleanly converts waste into a
range of valuable commodities that support new energy and industrial
infrastructure. With one of the world's most experienced thermochemical
conversion technology and engineering teams, EQTEC provides bespoke waste
management and new energy solutions through best-in-class innovation,
infrastructure engineering and value-added services for developers,
owner-operators and industrials.

 

EQTEC's end-to-end process solutions are in demand from around the world with
highly efficient equipment that is modular and scalable from three tonnes of
waste per hour. Its versatile solutions process dozens of varieties of
feedstock, including plastics, mixed municipal waste, industrial waste and
other non-recyclables, all with no hazardous or toxic emissions, producing a
wide range of valuable commodities including synthesis gas ("syngas")
electricity, heat and steam, synthetic natural gas, hydrogen, liquid fuels or
other chemicals.

 

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
(http://www.eqtec.com/) .

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRFSMESLELSELF