REG - MetalNRG PLC - Italy Waste to Energy Update

MetalnrgAnnouncement

23/06/2023 10:45

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RNS Number : 7442D  MetalNRG PLC  23 June 2023

 

23 June 2023

     MetalNRG plc

 
 

 
Italy waste to energy update

 
 

MetalNRG plc ("MetalNRG" or the "Company") is pleased to confirm that
EQTEC Italia, our  joint investment with EQTEC Plc and two family offices in
a waste to energy plant in Italy  located in Gallina, near Castiglione
d'Orcia, Tuscany, Italy, has completed handover protocols to EQTEC Italia and
transferring plant operations to EQTEC Italia MDC srl ("Italia MDC")

This follows the Company's 14 March 2023 announcement that the Italia MDC was
operational, having commenced export of electricity to the national power grid
on 8 March 2023 and having produced biochar and commenced gasification in
January 2023.  The Italia MDC is the first of EQTEC's MDCs to be operational.

 

Additionally, Italia MDC is pursuing refinance of the plant asset by an
Italian bank, which is expected to complete during Summer 2023.

 

Rolf Gerritsen commented:

 

"We are pleased to see the operating company now fully in charge. The syngas
quality and composition being measured is exceptionally high, and we are
confident that EQTEC Italia MDC srl will benefit from the high performance of
both electricity and biochar this will allow, we now look forward to
finalising the refinancing of the plant."

 

END

 

Contact details:

 MetalNRG plc                   +44 (0) 20 7796 9060

 Rolf Gerritsen

Christopher Latilla-Campbell
 Corporate Broker               +44 (0) 20 7469 0930

PETERHOUSE CAPITAL LIMITED

Lucy Williams/Duncan Vasey
 Corporate Broker               +44 (0) 1483 413500

SI CAPITAL LIMITED

Nick Emerson

 

 

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