REG - EQTEC PLC - Senior Management Appointment

EQTECAnnouncement

16/09/2024 07:00

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RNS Number : 2319E  EQTEC PLC  16 September 2024

16 September 2024

EQTEC plc

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

 

Senior Management Appointment

 

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 the
appointment of Murli Bhamidipati as Operations Director at EQTEC Iberia SLU.
In his role, Mr Bhamidipati will become the Managing Director of the Company's
Spain-based operations and will direct Group-wide business development
activities and their interactions with the Spain-based engineering team. Mr
Bhamidipati will join the Company on 30 September 2024 and will be based in
Barcelona, Spain. It is expected that Mr Bhamidipati will, in due course, join
the EQTEC Board.

 

Further to the Company's announcement on 9 August 2024, Group COO, Jeffrey
Vander Linden will step down from the Board on 29 September 2024.

 

The appointment of a Spain-based Operations Director comes following the
Group's announcement on 9 August 2024 that the Group's lead operations role
will transition to Spain as part of operational and organisational changes in
line with the Group's business strategy and stated intent to become a
pure-play technology innovator and licensor. As part of this strategy,
originally announced in September 2021, the Group will co-locate operational
management and decision-making with its Engineering team based in Barcelona,
to be led by Mr Bhamidipati as Operations Director. This appointment will
permit Group Chief Technical Officer (CTO) Dr Yoel S. Alemán Méndez to focus
exclusively on innovation, patent evolution and development of EQTEC's
technology and engineering excellence.

 

Mr Bhamidipati is well qualified to manage both business development and
engineering operations for the Group, with a distinguished career spanning
nearly 30 years, including several leadership roles. Most recently, he was CEO
of Bolueta Engineering Group SL, a mid-sized engineering group in Spain
focused on the Energy sector, where he directed engineering and operations,
managed key clients, suppliers and investors, and led development of company
growth strategy. Mr Bhamidipati has advised a number of start-ups on
fundraising, commercial and go-to-market strategies. In addition, he has
advised companies on turnaround and restructuring. Previously, he worked in
finance and investment, at Deutsche Bank, GE Capital and Goldman Sachs,
focusing on the conventional and new Energy and Commodities sectors. He is
fluent in English, Spanish and German.

 

 

 

David Palumbo, CEO of EQTEC, commented: 

 

"It is not at all easy to find someone like Murli, so we are delighted he is
joining EQTEC. He brings the right capability, depth of experience and mindset
for growth aligned to the Company's long-term aspirations. His focus on the
evolution of our Engineering business and his direct engagement at the
interface between Engineering and Business Development are areas where we are
seeking to build critical, operational skills to support more clients, more
projects and more plants with our world-class technology capabilities. I am
also delighted that CTO Yoel Alemán will be able now to devote more focus on
driving greater, practical innovation of our technology for a wider range of
projects for waste management and new energy infrastructure."

 

Murli Bhamidipati, incoming Director of Operations at EQTEC Iberia SLU,
commented:

 

"I am honoured to join EQTEC at such an exciting time in its growth journey.
The company's innovative approach to waste-to-value solutions has immense
potential, and I am confident that my experience in both business development
and engineering operations will allow me to contribute significantly as we
advance our mission. I look forward to working closely with the talented team
at EQTEC to drive the successful execution of our strategic objectives,
particularly in scaling up our operations and expanding our impact in the
energy sector."

 

 

 

ENQUIRIES 

 

 EQTEC plc                                        +44 20 3883 7009 

 David Palumbo

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

 James Harris / Richard Johnson 

  
 Fortified Securities - Broker                    +44 20 3411 7773 

 Guy Wheatley 

  
 Shard Capital Partners LLP - Broker              +44 20 7186 9927

 Damon Heath / Isabella Pierre

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

 Samantha Esqulant 

  

 

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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