The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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.....and this from the 2021 Annual Results Q&A on the Investor Meet website,
Q18: To investors, it appears that eqtec is being held back from reaching Financial close on big projects like Billingham or Deeside due to owner operators not committing funds. What are they waiting for?
As announced on 13 December 2021, the Company elected to defer financial close for the Billingham and Deeside Projects in response to the new opportunities for both projects – particularly for offtake. The Company contended then that both opportunities deserved further exploration and focused its efforts on reviewing, modelling and assessing them, toward expansion of even greater positive impact for local communities and additional value for all stakeholders. That contention has proven well founded, and the Company is advancing both projects toward realisation of different models for offtake. Further announcements will follow in due course.
The Company also confirmed that both the Billingham and Deeside projects are part of the portfolio currently under review by a range of large-scale infrastructure investors and owner-operators for potential funding, commercial operation, or both.
Having said that, project finance for large-scale infrastructure projects is always a challenge, especially for early-stage technologies with limited but growing visibility. That reality is especially stark in the current market environment. To address this situation, EQTEC has taken a number of steps to more rigorously pursue project investors, including engagement with a wide range of large-scale, real asset investors, hedge funds and early-stage technology investors; closer engagement with banks in EQTEC target markets; closer engagement with public-sector policy bodies and public-sector finance; appointment of a dedicated, public-sector funding lead to ensure EQTEC pursues all available grants and/or loans available for innovative technologies, especially in the renewables sector; and targeted recruitment of talent for a dedicated ventures and investments team.
V111JAS - this is from Eqt's FAQs page. I posted on another thread but since you asked about government funding.
"We are engaging at local, regional, national and pan-national (e.g., EU) levels to drive further consideration of innovative technologies such as ours, and we have appointed a dedicated expert to pursue a variety of public funding opportunities across the EU, UK and USA."
Aandi : In that segment DP says :
~ " More rapidly funding , and capacity building " ~
This is precisely one of the key problem areas that I feel the Company are struggling with ; it`s all very well having a huge pipeline of potential projects and the potential might be worth many millions but these are merely hopes and aspirations until funding is available to progress their development . That`s why DP goes on to say they are prioritising those with the best possible COS .
It`s all about money and while marketing the concept may be at an acceptable level , at this stage they have to SELL it to DEVELOP it . At some stage we may start realising critical mass and these projects can be vigorously persued , for the moment we have to sell , sell , sell !
Is their `Sales Strategy` working , can it be improved , have we got the right people ~ we must effect closures .
I have no doubts about the efficacy or potential of the product , however at this point we are a very small operation swimming in a very big sea .
That`s why I have concerns about funding and why we probably need an enthusiastic committed partnership .
I don`t pretend to be an expert in this field , but the concept is very exciting and one that the World needs , just my opinion .
ATB
@28:35 €100m of the pipeline where the limiting factor is rapid financing. (pipeline is much bigger than €100m and is 100+ projects)
https://presentations.investormeetcompany.com/investor-meet-company/EQTEC-PLC-2022-AGM
They said themselves that marketing isn't the issue, and I'm inclined to believe them. If they have the pipeline they say they have, then thr MDC's will serve to bring on board the larger investors and partners needed to get the pipeline through. Once these are working, partners will want to sell the tech and Eqtec will be able to rush out their regional offices to handle it. MDC's are key here. They must get these right and working off the bat. Its critical. And coming up fast....
DerSack ~~~ As usual , your cogent , considered , positive post in support of the Company and an excellent rebuff to my negative take on the meeting .
Regarding revenue ~ and this is desperately needed ; I also noted the 9m with the almost throwaway comment ` Expect triple that by EOY` . Well , how I really hope that becomes a reality because it would go a long way to cancel many of the negative factors impacting current enthusiasm for the business .
I had hope progress would have been much faster on so many fronts , I misjudged that one and I think the various delays have had a seriously damaging impact on the business and its credibility . It`s all very well to say :
` We may be going slowly but we are getting it right ` and certainly `Getting it right` is crucially important .
FWIW , I think they have to up their efforts on the marketing and selling side of the business and push much harder for the support of Governments . I`m disappointed that there seems to be a lack of environmental support from authorities who really should capitalise on the current demand from green alternatives and waste issues .
Have we got the right people selling the story ?
In parallel , demonstrating rapidly improving revenue generation would go a long way to reigniting enthusiasm for the Company at the investment level .
Let`s hope they pull that one off and we have that revenue at some 30 M asap !
Regards
V111JAS.
Ausgezeichnet! Danke sehr. Martin.
Nice you opened an AGM thread. We had a presentation only a few days ago, so I didn't expect many news. I was happy to see the present shareholders asking questions which they couldn't prepare answers for. After a few minutes, they found their way and spoke nice and freely.
There was some stuff in the Q&A I hadn't heard before or at least not that clear. This is my summary of these points. Text in << >> is not a 100% transcriptions/quote, but from notes I made on the fly. For exact quotes, watch the video.
MDC Biochar:
Quite early on, those present asked about the megawatts of the MDCs. Y.A. subsequently upgraded the "small" numbers by saying that Biochar is also produced.
Croatia MDC upscalability and feedstock:
<< We use waste as a feedstock from a local industrial partner and provide them with electricity and heat.
The off taker needs probably 2-3x the amount of what we are producing. So we are also exploring the possibility to have an expansion behind the site. >>
Two plants operational by EOY:
The man with the white shirt said that we have two plants operational by the end of the year and DP says "correct".
Up to two further plants operational if we are lucky
<< With a bit of luck we will have North Fork or Agrigas built before eoy as well, so a total of 3.4 plants >>
And they defined "operational" as "built and producing"
Carbon Sole going for SNG
Until now it was mainly CHP and “biogas”, <
California:
Three current projects and Phoenix with a pipeline of ten ...
<< North Fork, Blue Mountain plus a third one we are bidding for. >>
<< The Phoenix pipeline alone in the US is 10 projects of the same type,2-3MW >>
Planned Revenue for 2022:
<< Revenue was 9.2 last year and we are targeting to triple that. >>
Our Pipeline
<< We have a 100+ Million pipeline. The limiting factor is more rapid funding and the capacity building internally. >>
<< We don't even talk about the size of the pipeline anymore because we are building go to market entities that manage their own pipeline>>
<< We have the luxury to choose. Soemtimes investors say we should advertise more, but we don't need more projects, we just need to deliver the right strategic projects that are gonna build the scale. >>
<< We have been sending demand away in middle east, in asia,...what we need is to build that platform to deliver on that demand and then to outsource that to local partners.>>
New EU PWB rules
As I already wrote at the other thread, this doesn’t harm us. They even seemed to be happy about it.
Using two different feedstocks:
There was a mention to use two differnt feedstocks at one of their plants, but if I understood it correcly, not a mix. Just the possibility to switch between two feedstocks depending on the feedstock price and availability. Didn't note that down. Must have been in the first 20-30 minutes.
They love us:
"We love engaged investors"
(real quo
What Scruffy meeting on so many levels ~~~ imo .
* Nothing new , little progress ~ afaics .
* Huge competition ~ Denied I believe .
* Sector lacking foresight , investment and commitment ~ unattractive .
* Pedantic project progress .
* Expectations / hopes of 2019 have not (as yet ) materialised .
* Closures ~ ?
* Marketing / selling the tech ~ new thinking / people required .
* Revenue generation ~ perhaps manyana ~ perhaps .
* Strategy ~ based on `Others` financial commitment . Realism ~ ?
* Financial position ~ questionable .
* Cash Raise ~ Let`s hope not at these levels .
* Short / medium term limited potential ~ perhaps left field opportunity .
* BoD performance ~ DP just ok , JVL quite good .
* Chairman ~ replacement required .
* Overall ~ Uninspiring , non motivational .
* Conclusion :
IF all goes to plan , a long term possible success story .
Perhaps a some meaningful partnership or even an outright sale for shareholder return .
I still hold a few , but ;
not difficult to see why Amati are dumping .
This is very sad because it`s a Tech we all need , and it`s disappointing to see that Governments have been reluctant to promote .
Sorry to be so negative .
GLA