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They have 6 working plants. Italy, Spain Croatia and Bulgaria are working plants. 2 working plants are at universities in France and Spain, so non commercial.
Advanced gasification technology provided by EQTEC is known for its high operational
system availability and reliability. Audited data from a plant operating in Spain shows in
excess of 110,000 engine operating hours and in excess of 7,000 hours of operation
(>80%) in each of the last four years.
Taking the last four years of operation into consideration, in the first of these years, the
plant operated for 8,600 hours (98.2% availability). In the following years operating hours
varied between 7,060 and 7,800 hours (80-89% availability respectively). This variability
was as a result of commercial decisions made by the factory operators and their
requirement for steam (this gasification plant delivers both electricity and steam to the
factory), driven by their production schedules olive oil and alcoholic products. The
gasification plant, if required to, is capable of continually operating at an annual
availability rate of more than 90%.
The IRR of 12-18% is for outside investment in projects. This does not include subsidies or 'gate fees' for waste.
From 2022, Eqt's profit margin is 16%. This will increase slowly over time as EQT start to take equity stakes in the smaller projects.
I also noted that a project with Ewergy was to receive planning before the end of the year. That would still leave a pipeline of 20 odd just from there.
I think you covered most of the interesting points there Bman,
Just would add confirmation that the £10mil raise may be for equity stake in smaller projects (said at least twice) so not for Billingham etc which would eat too much of this/put too many eggs in one basket.
Also let slip Italy in terms of projects (at 50mins ish): please correct me if wrong but I don’t recall any Italian projects before? More news in the offing?
You are probably right Newboy. They can always do that when we start to pull out heads out of COVID. An interview on either platform would reach a much wider audience.
There could be much more to discuss by new year and in the mean time us believers cam continue to accumulate at this level.
I'd rather they do Vox Markets or Proactive
What i also took from this is the considerable savings for businesses to deal with their own waste rather than perhaps pay for it to be dealt with. Any producer of mine carboniferous waste can utilise the advanced gasification process to generate heat, power or syngas to utilise on site. Classic example being the terracotta producer in France mentioned in the interview.
Yes, very good. DP really has a grasp of the product, the industry, regulations, market size and what EQTs main advantage is.
Having a plant operating between 7500-8500 hours a year for nearly 10 years shows that the technology really is advanced stage. Where most have not more than a pilot plant.
Building a 10-25Mw power plant is the target within the next 18 months to deal with municipal waste. This will be a show piece and will really push EQT into another realm. Projects will likely demonstrate an IRR of 12-18% which is very good compared to other renewables. Not forgetting this is a non-subsidised renewable. This will only improve as production costs reduce.
30-40% more efficient than incineration per tonne of waste. Which for EfW is not so good where it reduces gate fees.
I appreciate this is painful at the moment but patience is going to be rewarded. The next 36 months have the potential to see EQT become a global player in the advanced gasification market. I think there will be a lot more focus of clean processes and DP is doing all he can to show what EQT can offer across the world.
DP is proving to be a great choice to push the business forward.
Very good interview
Podcast interview with David Palumbo on The Joint Venture Podcast
https://open.spotify.com/episode/47ilbYbpGB5K1IIFoSk6Ul?si=EFdBkUHBRnKkR5yk1OalOw&utm_source=copy-link