Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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EQTEC plc is pleased to have completed the first stage of basic engineering work in December 2023 for Simonpietri Enterprises LLC (SEL). We are well underway with the second half of the work and anticipate completing basic engineering later this month, under the Technical Services Agreement we signed in November 2023. Following that, we hope to move forward with SEL by providing further engineering services and equipment supply a plant that would convert 15,000 tonnes per year of wood #waste into #syngas, which in turn would generate up to 2MW of electrical power for an organic fertiliser production facility and demolition waste sorting and recycling operation
Imagine being £35k down in just a few hours.
£250k bought at 3.1p this morning to explain the jump. exciting times ahead.
Confetti Dave in just 5 years as CEO has diluted longterm shareholder to oblivion 4.5bn to 22.2bn pre the 1st of the multiple consolidations pending.
10 years in total involving Palumbo with his Altair tenticles .
Strange he stays here when he,d be much "better paid elsewhere "away from his EQTEC and Altair financial restraints !!
So lucky to still ave im ere.
As expected it tells us that the idiot Palumbo will run this company further into the ground, they had the perfect opportunity to engage with Altair , Pitcole and Verde and transfer debt/holdings between the two rather than dilute shareholders once again.
This just makes a clear statement that the still aren't making enough to wipe their noses every month and Palumbo still sees shareholders as a cash cow.
Verde investment will be a positive as a board representative may be able to reign Palumbo and JV Liar in a little, but with the amount of debt circling around the z-list lenders that is a tough job !
Might as well wait as nothing to loose.
USA could be next uptick too.
Not forgetting France.
So basically another 40 million share dilution
More hocus pocus doesn't look good for PI's imo.
What it says to me is that the post-consolidation dilution has started, and not in a small way.
The mere mention of Riverfort is a red flag, known for many years on these boards and a name synonymous with what some like to refer to as death-spiral financing. A lender of last resort.
As pointed out, where is the expected news on Northfork?
I suppose, when you've been 95% down for so long, it doesn't really matter in the grand scheme of things when the company continues to bounce along doing nothing of note to change their fortunes, despite all the flannel.
gla
Weird yesterday this was 2.4p? Not complaining we open at 3.0p. Its so painfully low even 10p would not do it justice and would anyone notice anyway. Time for Eqtec to bring out the interims and update on Northfork. 10p would not be unlikely if we get our stake known.
Can't see what you are on about, only buys at 3.10 and 3.19
So far.
Someone’s getting h shares at 2.45p and someone else at 4p. Bit odd, what’s that about then?
Looks like a strategic investor dipping their toe but really wished DP did not drag us so low but i suspect this restructure will clear the air and we should start to fly once they drop the interim update and Northfork launch. We can ask why now and not in a few weeks time but DP only knows that.
Yeah, good, clear as mud. I'm glad that's simplified things. Bit early may come back and read after coffee ! GLA
Maybe this?
NFCP Update: lots of activity, moving forward. PPA deadline Feb 28. All back feed
is in from PG&E. Has 6 employees so far, a few from the mountain area, others
within Madera County. Looking to increase to 12 employees.
Another fantastic week for Palumbo and the BOD pocketing €6k each up from €4k when he took over 5 years ago.
Mr Palumbo joined the Company's Board on 28 August 2019, having been appointed to the senior management of the Group as Commercial Director on 28 June 2019. He has been in involved in an advisory capacity with the Group since 2014 and was responsible for introducing a number of significant stakeholders to the Company in that period. David is an experienced entrepreneur with 20 years' experience in private equity, business development and asset management. Since 2006, David has founded and co-founded a number of companies in various industries such as renewable energy, wealth management, property and real estate.
Ian Pearson, Chairman of EQTEC plc, said: "We are excited to welcome David as Chief Executive. His knowledge of and long relationship with the Company, together with his strong and varied international experience make him ideally placed to realise the full benefits of the recent restructuring and continue to implement our clear strategy for growth in the highly attractive waste to energy market.
So 10 years Palumbo has been milking the punters here either on an advisory role or as CEO.
About £2m extracted on salary and bennies as CEO ,
How much as an adviser
How much in kick backs from Altair ?
"Experience entrepreneur " who's talents include trashing Eqt down by 75% since becoming CEO , diluting shareholders to oblivion by issuing 13.5 bn new shares and as a result squandered over £50m .
I looked and found nothing of interest.
Minutes from Northfork CDC finally posted
http://northforkcdc.org/
Dare we look . . .
“£4m market cap cannot go any lower if all the revenue they are generating and the refinance cash has come in”
Palumbo has saddled the company with so much debt at high interest rates this could go anywhere even to zero, the guy is a megalomaniac idiot who can’t control spending or debt because it isn’t his cash he pi sses against the wall constantly.
Wow. back to where we were before the refinance announcement and partnership rns. i hope this update, due next week, is going to get this stock off the floor and start to build some momentum. Eqtec could be the biggest riser in 2024 if they do deliver for once as surely £4m market cap cannot go any lower if all the revenue they are generating and the refinance cash has come in. i topped up just around 2.8 but looks i was a little early but feel the update could easily bounce this back well past the recent high on news of Northfork and updates on all their other projects that have been limping to the finish line. The US market is massive so a lot is riding on Northfork. France seems to be the most credible and stable blockbuster project so that will be big news once we get the green light. Palumbo was buying some stock at 7p, albeit a very small amount. Even a rise to 20p is only .2p in old money or £40m market value? is 50p out of the question or £100m market cap by end of year out of question if things start to motor? that would be a 20x and does not seem out of reach of they deliver. buy while others are fearful comes to mind but at same time had my fingers burnt on this one with mismanagement but all the tech in the world cannot necessarily fix behind the scene schenanigans.
Yes. Last substantial rns was on 12th October 2022 and basically reads we refinanced the debt with new lender to ensure project made it to live.
announces that North Fork Community Power, LLC ("NFCP") has entered into an agreement for a financial restructuring with the project lenders ("Lenders"), for the provision of a standby facility, in the amount of USD 4.3 million, towards full funding of the project up to the commercial operations date ("COD") of a plant, with EQTEC technology at its core, in North Fork California, USA (the "Plant").
The third-party funding has been agreed as part of a pre-negotiated petition filed by NFCP for relief under Chapter 11 of the US Bankruptcy Code, following alignment between NFCP managing members, including the Company, with the Lenders. The agreed terms specify funding for the Plant construction and commissioning, and for recruitment, training and onboarding of the Plant operations staff, as well as for legal and other costs associated with the Chapter 11 process itself.
The terms also specify that the Company will remain as an equity shareholder in NFCP with the final shareholding being determined during the legal process. However, any further drawdown on the convertible loan facility committed by the Company in 2021, of which c. USD 1.5 million remains undrawn, will no longer apply thereby preserving the Company's financial resources. The Company has no plans to make any further investments into NFCP.
Ah thank you for that MJ! Got me a bit earlier.
Yes Dakry thats an old article circa 2016 when the gasfier was going to be supplied by I believe GE. EQTEC involvement wasnt agreed untill about June 2019 I believe.
I am also unsure if this is just an old article before our involvement or such. Just looking for some clarity on it.
Regards, Dakry