REG - EQTEC PLC - Disposal of MetalNRG Shares

EQTECAnnouncement

15/11/2024 08:15

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RNS Number : 4126M  EQTEC PLC  15 November 2024

15 November 2024

EQTEC plc

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

 

Disposal of MetalNRG Shares

 

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, announces the sale of its entire holding, being
60,606,061 shares, in MetalNRG plc ("MNRG") (LON:MNRG), the natural resources
company, for total consideration of c. £0.2 million.

EQTEC no longer considers its holding in MNRG to be strategic, following
MNRG's decision to withdraw from new energy infrastructure development to
refocus on core mining opportunities. The investment was previously written
off in EQTEC's audited results for the year ended 31 December 2023.

This disposal reflects EQTEC's commitment to prioritising assets and
partnerships that directly support its mission to advance sustainable energy
and fuel solutions. The proceeds from the sale will be reinvested into EQTEC's
core business activities, furthering its efforts to deliver clean, renewable
energy and alternative fuels from waste.

 

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 

 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/) .

 

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