REG - EQTEC PLC - Transition of Group COO role

EQTECAnnouncement

09/08/2024 07:00

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RNS Number : 7664Z  EQTEC PLC  09 August 2024

09 August 2024

EQTEC plc

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

 

Transition of Group COO in alignment with Group business strategy

 

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 announces transition of the
Group Chief Operating Officer role (the "Role"). Jeffrey Vander Linden,
currently in the Role, will resign and step down from the Board in due course,
to support transition of the Role to a Spain-based engineering management
professional. The Company intends to complete transition of the Role by the
end of September 2024, although Mr Vander Linden may be asked to remain
available beyond that date. Discussions with a prospective appointee to the
Role are at an advanced stage and a further announcement will be made in due
course.

 

Transition of the Role comes 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,
Spain, to be led by a Spain-based Group COO. This will further permit Group
Chief Technical Officer Dr Yoel S. Alemán Méndez to focus exclusively on
innovation, patent evolution and development of EQTEC's technology and
engineering excellence.

 

The transition also comes in the wake of the Company's 2023 annual results,
released on 28 June 2024, which noted that the Group was completing its
strategic transition from capital-heavy development company to capital-light
technology licensor and innovator.

 

David Palumbo, CEO of EQTEC, commented:

 

"Jeff has been a game-changing member of our management team and on behalf of
the Board of Directors, I want to thank him for his tireless effort and
dedication to the Company for the past four years. Although we will all miss
his drive and professionalism, it is the right time now for the Company to
transition our global head of operations role to Spain, to be co-located with
our Engineering team, which is the heart of our capabilities and services. In
2023, we completed a series of hard choices and critical transitions to
re-platform the Company for a focused future of growth and scale. Jeff has
been instrumental in making that possible and we hope to have his continued
engagement as we execute the business strategy he developed with us."

 

Jeff Vander Linden, COO of EQTEC, commented:

 

"EQTEC is such an exciting technology and after the hard work of the past
several years, it is now also an exciting Company with a clear strategy,
roadmap, pipeline and partner ecosystem. The technology and its unique
capabilities have always provided a solid foundation on which to build a
successful business. And now, after the tough choices and hard medicine of
2023, with the world's best Industrial, Utility and Waste Management clients,
supported by world-leading technology and delivery partners, I expect even
greater things from EQTEC in the years to come. The future of waste management
and energy must be one and the same and EQTEC's technology is one of only a
handful of cleantech options to make it possible. I will continue to stay
close to this great business and hope I can continue to contribute to it as it
succeeds and grows."

 

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 

  
 Fortified Securities - Broker                    +44 20 3411 7773 

 Guy Wheatley 

  
 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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