REG - EQTEC PLC - Corporate and Funding Update

EQTECAnnouncement

24/11/2025 12:30

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RNS Number : 7597I  EQTEC PLC  24 November 2025

24 November 2025

EQTEC plc

("EQTEC" or the "Company")

 

Corporate and Funding Update

 

EQTEC plc (AIM:EQT), a provider of syngas technology and engineering services
for clean conversion of waste into sustainable energy and biofuels, announces
the following update.

 

Funding and Debt Update

As previously disclosed, and in line with broader market conditions impacting
technology providers within the clean energy sector, the Company continues to
face challenging trading and funding environments. As at the date of this
announcement, the Company has total corporate debt of approximately £6.1
million, comprising: (i) a £5.1 million bullet loan due for repayment on 30
December 2027; (ii) a £0.7 million convertible loan now due for repayment;
and (iii) a remaining balance of £0.25 million under the convertible loan
facility announced on 24 October 2025 ("CLF"). The Board cautions that the
Company needs to secure additional funding to meet its short-term working
capital obligations. The Company has drawdown an additional £60,000 from the
CLF while  continuing to explore strategic funding options and will update
shareholders as appropriate.

As previously announced on 6 October 2025, Mr. Didier Casimiro became the
ultimate beneficial owner ("UBO") of Rebel Ion Limited (previously Compact WTL
Tech Limited) ("Rebel Ion") and therefore became indirectly interested in a
significant shareholding in EQTEC.  A core strategic priority for the Company
is the progressive de-leveraging of its capital structure. In line with this
priority, the Company, together with Mr. Casimiro and its existing lenders,
have been engaged in ongoing discussions. The Company has reached a
preliminary, conditional and non-binding agreement with Rebel Ion and the
lenders that, subject to a simultaneous successful equity raise, Rebel Ion
will acquire both the £5.1 million bullet loan and the £0.7 million
convertible loan from the existing lenders and that, upon completion of the
novation of the debt from the existing lenders, Rebel Ion will fully convert
the £0.7M convertible loan into equity, agree not to dispose of the resulting
equity for a period of 12 months and extend the maturity of the £5.1M bullet
loan to December 2030. Rebel Ion has indicated that it would be willing,
subject to regulatory and feasibility considerations,  to make a portion of
its debt purchase available to new equity subscribers, proportional to their
equity contribution. In the event that the Company and Rebel Ion are able to
conclude the arrangements as broadly set out above to the satisfaction of the
Board, and subject to the Company securing sufficient additional funding and
securing a favourable independent related party opinion, it is expected that
the Company would agree to cancel the Option Agreement entered into by the
Company with Rebel Ion on 1 June 2025.

The existing lenders, Rebel Ion and the Company are currently preparing the
relevant transaction documentation, and the Company cautions that there can be
no certainty that the proposed funding package will be concluded.

To facilitate the finalisation of the documentation, the Company has obtained
a standstill until 31 December 2025 with the existing lenders of the £0.7M
convertible loan.

Further announcements will be made as appropriate.

 

This announcement contains inside information as defined in Article 7 of the
EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018, as
amended, and has been announced in accordance with the Company's obligations
under Article 17 of that Regulation.

 

 

ENQUIRIES 

 

 EQTEC plc                                        +44 20 3883 7009 

 James Parsons

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

 James Harris / Richard Johnson 

  
 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
(https://eqtec.com/) .

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