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Croatia will be simmilar to Italy, but 1.2MW not 1MW. From. The Italy (tuscany) financial close RNS:
In addition to being co-owner, developer and Advanced Gasification Technology supplier to the Plant, EQTEC has been contracted as the O&M partner for the fully commissioned Plant. The O&M contract value for the Company is expected to be approximately €215,000 per annum;
· Once the Plant is operational, currently expected by Q2 2022, EQTEC Italia MDC Srl is expected to generate annual revenues of c. €2,000,000 and EBITDA of c. €750,000;
-From the video yesterday, the dude talked about Eqtec taking the first 6 months revenue each year for their O&M fees. Forrestry waste comes at a cost when it needs to be collected/bought. The day eqtec can retrofit old incinerators with their advanced gasification system producing far less emisssions and 70% more efficient is the day we truly become a global player. The sky is thee limit once RDF is proven commercially.
Jenbacher, Toyota, metalNRG, Idex all agree. Wood group too if they are working together but on this one we have heard very little. Is this by design to keep it fair whilst other large EPC are in a bidding process for the pipeline?
Thank you aandi. I can now tie up where some numbers have come from. Still green in all this but ideal learning where some of your facts and figures come from. Appreciate the response and that shoulder was ideal.
Dakry
aandi, this is probably worth repeating even though it doesn't offer much clarity on what the shovel ready projects may be.
"Along with recommissioning facilities containing EQTEC technology, we will pursue other decommissioned facilities with other technology. We see this as an opportunity to leverage existing infrastructure to rapidly deploy our capabilities, increase our operational footprint and further our company's mission."
Final Results RNS, April 2021
Also, do any of the long term holders know what happened to the Newry Biomass plant - a pre-EQTEC, KEDCO facility ? The spv is still mentioned in the 2020 annual report,
"As disclosed in Note 21, the Group owns 50.02% of the voting rights in Newry Biomass Limited. One other company owns the remaining voting rights. Management has reassessed its involvement in Newry Biomass Limited in accordance with IFRS 10’s revised control definition and guidance and has concluded that it has control of Newry Biomass Limited."
...and we know that some existing equipment held at Newry was supplied to North Fork , but what about the plant itself? Is it dormant/decommissioned? Anyone know?
MNRG are a one man premium ramping machine for all their activities.
So given EQT wanted to use other people’s capital on these non core projects and thereby position themselves as a leveraged IP engineering company, what’s not to like about MNRG’s money?
MNRG’s CEO will promote this till the cows come home and are obviously “Independent” so the best of all possible PR.
It shows a bit of marketing flair on Mr Palumbo’s part too.
Hi Dakry. Forgive me if I'm giving you the hard shoulder, let me know if I missed anything..
I remember reading the metal NRG equity raise prospectus just before the Italian deal reached financial close. Its a long read but the search function helped find the eqtec sections! But from memory they had part of the raised cash destined for an eqtec JV (around £500k which became their investmment in the Italian project), And also the equivilant of £500k shares were given to eqtec in a share swap between the two companies. We gave them £500k of our shares also. Of course this means we own 10% of them and they own 0.5% of us.
The only groan from their share holders was the cost (fees to the broker) of the placing, I forget how much but it wasn't cheap.
Slides from the video are in this presentation page 30 https://www.metalnrg.com/investors/company-presentation/download?path=NewMetalNRGPresentation13May.pdf
I notice that it was not the CEO but a non exec gave the presentation today. Has past experience working for Total (French) and other oil majors. He said in the interview today he had worked with our guy DP previously aand found him professional and he keeps his word. Good to know....
Another non exec guy with 30 years in finance is fluent in French and has experience working in Eastern Europe (we have redundant projects in Hungary and Croatia that may be recommissioned cheaply)
When they talk about shovel ready, I wonder if this extends to end of life incinerators and power plants?
Aandi.
It would be worth looking at metalnrgs investor documents. There are some more details on their "May prospectus" where eqtec is mentioned several times. A worthwhile read. I would enjoy your take on it.
Dakry
No idea... But they are promoting the company and helping fund projects by raising their own cash so not complaining.
Why do EQTEC need NRG ??!!
https://mobile.twitter.com/StockBoxMedia/status/1422133365017399297?s=20
Metal NRG, the Joint Venture company helping to fund the Italian plant we finnancially closed just recently look to be active again. Did I hear correct, possible listing? So the eco devision of metal NRG could undergo an IPO, that's how a listing goes yes?
https://youtu.be/OGa6vAq9OFg
Here is the video on YouTube, starts around 16mins
https://www.metalnrg.com/divisions/direct-investments/metalnrg-eco-ltd
"partnering with gasificatuon world leader"
Listed on the Aim +!??!