REG - EQTEC PLC - Collaboration Framework Agreement with Domi Ost

EQTECAnnouncement

25/07/2023 07:00

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RNS Number : 0289H  EQTEC PLC  25 July 2023

25 July 2023

 

EQTEC plc

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

 

Collaboration Framework Agreement with Domi Ost

 

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 Domi Ost
Limited ("Domi Ost"), an Irish development and project management company
dedicated to bringing advanced biofuel production to Ireland, other European
markets and the UK.

 

Through the Agreement, the Company and Domi Ost (together, the "Parties") will
collaborate on the design and development of projects in Ireland that deploy
EQTEC synthesis gas ("syngas") technology for conversion of forestry,
agricultural, industrial, municipal or other waste into renewable natural gas
("RNG"), hydrogen or other advanced applications such as ethanol or methanol.

 

The Parties have identified four projects to pursue together and have already
undertaken qualification on one of them, including engagement with the
prospective client. The Company will update the market as projects under
review are qualified and managed through the pipeline.

 

Under the Agreement, Domi Ost will incubate and shape demand in Ireland and
potentially other markets, manage stakeholders and drive project
implementation. Domi Ost will also source and contract key parties for
investment and delivery of projects, leaving EQTEC to focus on engineering and
core technology integration and licensing. The Parties envision working with
other third parties for syngas-to-molecule applications, as well as for
construction of new energy plants.

 

The Agreement envisions no investment of either capital or unpaid resources by
EQTEC into any projects targeted by the Parties. Any projects the Parties
elect to progress to full development will be subject to separate, detailed
contracts.

 

Domi Ost is a development and project management company whose management
bring decades of experience shaping and managing petrochemical and renewable
energy projects in Ireland, across Europe and around the world. Domi Ost
anticipates a good market in Ireland for advanced syngas technology for
production of RNG, hydrogen and other chemicals.

 

The Agreement follows the Company's announcement together with its annual
results on 05 May 2023 that it was engaging with partners toward Ireland-based
projects in support of Ireland's IT services industry, de-carbonisation of the
national grid and creation of autonomous, sustainable alternatives to
traditional energy solutions. The Company's 2023 annual report also contains a
profile of Domi Ost as a partner.

 

Jeffrey Vander Linden, COO of EQTEC, commented:

 

"EQTEC's ability to design, model, deploy and commission its proprietary and
patented process technology to produce highly efficient, versatile and clean
syngas from a wide range of waste types makes us uniquely fit for a range of
offtake applications, including advanced biofuels. We are pleased to extend
our engagement with RNG and hydrogen opportunities and to explore the
potential for syngas-to-ethanol or similar applications.

 

"We have long been interested in working more in Ireland, and with the
government's commitment to decarbonisation standing alongside increasing
investor interest in supporting the journey, we are very happy to formalise
our working relationship with Domi Ost. Our work to date with Domi Ost has
been a pleasure-we are particularly inspired by its commitment to the highest
professional standards and its dedication to quality project execution."

 

Kieran Gaughan, Director of Domi Ost, commented:

 

"Ireland is really just getting started with advanced energy applications such
as those made possible by syngas-based solutions. We at Domi Ost have always
been passionate about bringing advanced biofuel production to Ireland, as well
as to other European markets and the UK, so a collaboration with EQTEC is a
natural choice for us in making that possible.

 

"Although syngas-based applications are not a one-size-fits-all solution for
Ireland or anywhere else, they offer true potential for baseload energy and
therefore for replacing fossil fuels. Given our commitment and the Irish
government's commitment to decarbonisation of the national grid, the syngas
approach makes a lot of sense. We know of no one better than EQTEC for
syngas-based solutions, and so we are very happy to work alongside it on our
journey toward fuel sustainability and business resilience while decarbonising
Ireland."

 

ENQUIRIES

 

 EQTEC plc                                              +44 20 3883 7009

 David Palumbo / Nauman Babar

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

 James Harris / Richard Johnson

 Panmure Gordon - Broker                                +44 20 7886 2500

 John Prior / Hugh Rich

 Instinctif - Media & investor relations enquiries      EQTEC@instinctif.com (mailto:EQTEC@instinctif.com)

 Guy Scarborough / Tim Field                            +44 791 717 8920 / +44 788 788 4794

 

About Domi Ost

 

Domi Ost Limited is an Ireland-based project development company with the
mission of sustainably decarbonising Ireland while ensuring business
resilience. As Ireland seeks to decarbonise its energy grid and transport
sectors by encouraging new, renewable technologies that support the country's
economic growth, Domi Ost is quickly finding routes to market for EQTEC's
syngas technology, as well as for other, complementary technologies.

 

Domi Ost's founding directors' objectives are identifying and forming
high-quality and high-impact clean energy opportunities and driving project
success, as a response to Ireland's 'green' challenge. The company is also
dedicated to decarbonising Ireland while creating value for stakeholders and
business resilience though fuel sustainability and deployment of EQTEC's
clean, syngas technology in Ireland, be it for combined heat and power (CHP),
renewable natural gas (RNG) or other applications including bioethanol or
biomethanol production.

 

EQTEC and Domi Ost are currently discussing sustainability opportunities for
heavy energy user sectors and transport services in Ireland. Both sectors have
grown significantly over the past two decades, and Ireland intends to grow
them further, with a clean energy footprint. Beyond the considerable power
requirements inherent in delivery of services, investors in the industry
sector are looking at options for strong investment cases for clean generation
of baseload power. The transport sector is looking at a decarbonisation
strategy that includes biofuels or other chemicals to support Ireland's
overall objective of a clean carbon footprint.

 

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 synthesis gas ("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/) .

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