REG - EQTEC PLC - Collaboration Framework Agreement

EQTECAnnouncement

27/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231127:nRSa6679Ua&default-theme=true

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                                           +44 20 3883 7009

 David Palumbo / Jeffrey Vander Linden

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

 James Harris / Richard Johnson

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

 Samantha Esqulant

 Fortified Securities - Joint Broker                 +44 20 3411 7773

 Guy Wheatley

 Panmure Gordon - Joint Broker                       +44 20 7886 2500

 John Prior / Hugh Rich

 

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
(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  AGRFESFFIEDSEEF