Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Spain plant has been running continuously for over a decade, Italian plant now running continuously, Northfork in the USA is in the final stage (hot commissioning) and will be running very soon. All coming together very nicely
Allegedly 62 feedstocks for the pipeline of 200 and yet after 5 years in charge Palumbo has yet to deliver just 1 project up and running continuously as he admitted last week.
Over £50m squandered to date.
Any wonder the sharepice keeps tanking hitting new lows in this POS lifestyle company.
For what it's worth, Munich RE have been named in a presentation slide as one of EQTEC's (current or prospective) 'finance' partners but I'm not sure in exactly what capacity that is...
@Rollon - thanks for this, interesting stuff and all sounds great in principle - I'll have a look into how it might work in practice and in particular what feedstocks this covers.
If they'll guarantee 80%+ output at 8,000 hours per annum on MSW in a gasifier and have an insurance company back that up (Munich RE comes to mind as one of the only two I've ever seen do it, can't recall the other) I'll eat my hat - and recommend this tech to a friend of mine who's looking for tech.
2. Performance warranties on the first 6-24 months of plant operations (continued)
Should the customer demand it, performance warranties can be extended beyond 2 years, and insurance cover for this can also be extended. Premiums for performance insurance after 2 years of operation fall sharply, if there has been no breach of performance benchmarks during the previous period.
3. Liquidated damages / delays (can be covered by insurance)
Liquidated damages and delays to construction and commissioning of plants can be covered by insurance."
Welcome 30silver!
Regarding the insurance mentioned previously by Trytrytryagain, fyi I've copied below some details taken from Arden's initiating coverage report, June 2020. Arden were EQTEC's broker at the time. Don't know who the insurer is though....
"Due to the commercial nature of its technology and the highly reliable operating history of its plants, EQTEC is able to offer its customers warranties on the performance of its gasification technology and an international insurance underwriter will insure these warranties.
This has material significance in providing customers with confidence around the soundness of its technology and increases accessibility and ease of securing financing from lending institutions or other providers of energy infrastructure investment.
EQTEC typically offers its customers the following warranties:
1. Commissioning Performance Test
Following the completion of construction, a plant undergoes a cold and hot commissioning process, prior to handover to the customer. A 48-hour performance test is carried out to an international set of standards. If for any reason the performance test fails to meet the necessary prescribed operating performance (for example, due to a fault with one of the equipment modules or the failure to meet a specification for plant availability, syngas composition or syngas purity), EQTEC offersto replace any parts or to adjust the system up to 15% of the total capex value of the plant. With insurance, 90% of the value of the plant is covered in the event of a failure of a commissioning performance test.
As a matter of fact, EQTEC’s equipment has never failed a commissioning performance test - but such warranties and insurance provide a high level of comfort to customers and partiers engaged in financing the plants.
The insurance premium costs the equivalent of approximately 5% of the capex of the plant. 10% is deductible and insurance covers 90% of the capex value.
2. Performance warranties on the first 6-24 months of plant operations
EQTEC offers performance warranties on between 6 to 24 months of operations following commissioning, depending on a customer’s demands. Such performance guarantees are also important to parties engaged in the funding of plants.
Performance benchmarks are based on projections of a project’s financial model, and include attributes such as kilowatt hours of electricity and heat generation (which is determined by syngas output and purity), system availability and ultimately the revenue generated by the operation of the plant.
Insurance covers revenues generated from the plant and its ability to meet debt service ratios of the lender(s) that financed the plant. Debt service ratios commonly require the plant to always generate above 80% of forecasted benchmark revenues.
Thanks for your insight, yawn.
Hard to believe this pile of cow sh*t is still in business- but tanking again.... it'll be gone soon
Wow - this profanity filter is getting silly - the geneity one was h0m0geneity and the other was black vitreous sl@g
@simms45 thanks for the info, certainly seems that the focus will be back on biomass as a feedstock (which makes a lot more sense for gasification than mixed waste) and then on specific other non-biomass (predominantly well sorted plastics) for methanation / oil production where some level of ****geneity of the feedstock can be guaranteed.
putting msw or rdf into gasification is fraught with issued for a process that requires stable reactor conditions, that variabilities in moisture content, calorific value and ash bridging can easily upset. the only reliable example i've found of att working on rdf or msw is the applications by nippon steel/hzi with their direct melting equipment, which ran at up to 1,800*c to solve the ash issue by creating a glass-like black vitreous ****. even they are predominantly focussing on grate-based incineration for msw / rdf, as evidenced by their most recent projects in taoyuan, muroran city and
kitakyushu city - the last direct melting plant was more than 10 years ago, 2013 i believe.
Ireland projects are also on the go. From last years interim results:
· In Ireland, the Company announced on 25 July 2023 a collaboration framework agreement with Irish development and project management company Domi Ost Limited, for deployment of EQTEC solutions into Ireland, especially for RNG, hydrogen or other advanced applications such as ethanol or methanol. The Company confirmed that the parties have identified four projects for joint pursuit, one of which is now under active development.
Need to bear in mind Italy was able to refinance for €2.5m as bank was satisfied the plant was operating as expectee in December 2023 and its early issues have been down to 3rd parties. Obviously not great but lessons learned. Idex have placed a huge dollop of credibility lining up Eqtec in the start of dozens of plants in France. Same in United States. I also remember that Eqtec tech having been proven in small projects was able to get insurance that guaranteed a level of return. We have wood group and many others hitching their train to the Eqtec wagon. We need to move past the mess of DPs rose tinted specs and now focus on delivering Croatia, France, Greece, US and other projects around that world that are in play.
Visitin'ghost, I think you're paid to be here and spread nonsense. You have done nothing but deride, at a personal level, the board. That is nought to do with the tech.
You switch from one to the other to suit your current narrative and now the conversion goes back to tech more than cash, you attack there instead. You have no facts, you are unable to provide sources, unwilling to concede the tech is insured and highly regarded and attack anyone who has a positive view.
You claim to not be invested and yet you're still here. Why? From your own good grace, during all working hours when one might otherwise be working? I put it to you then that this is your paid work, to deliberately attempt to suppress shareholder sentiment and as far as possible the value of the company. Vile actions.
I do not have shares of PHE, never had, just one guy here asked me what I think of PHE and after evaluating their tech I concluded it was not worth investing in it, conclusion I still have, since their value proposition (H2 economy) is rubbish, the H2 economy will never work.
On EQT: I evaluated the tech for an investor and I concluded it was not worth investing, their value proposition was wrong and the facts confirm my evaluation.
Please notice: my evaluation are always starting from the tech, financial wizardry is not my cup of tea and 95% of the cases in my evaluation I do not need to start to dig in the balance sheet, it is sufficient to understand if the tech is working and it has the relevant market and what people usually do with the same raw material as alternative scenario. EQT and PHE fails miserably from this point of view.
Didn't take long to sort the intelligent investors and the trolls out.
Add to that Computer909 as also about 95% EQT and all of them are negative with no useful information provided whatsoever.
Ah and the 3 musketeers arrive with their green boxes
BOD should be judged on share price performance. FACT 100%
Q: "Can someone explain how come this is valued under £3m"
A: Palumbo and vander Linden
We also appear to have some little boys trolling the board for their £5 contract for differences trade - Pander12 (100%EQT), BurranBoy(EQT and COPL but changed from COPL yesterday - likely opened a CFD short bias on the 1.85 "spike" yesterday or Wednesday lol), and Foxyjoe (100%EQT)
You can usually tell when you look at their profiles and they pretty much only comment on a single share in any given month (or, in somecases, only ever this share - means it is a multiple account only used to troll a particular share).
GLA
Wouldn't trust them to walk my Gran across the road.
Aldeep - most likely due to the financing required to move away from the previous business plan of high risk high capex projects. This new method has already proven to be somewhat successful with 600k EUR revenues in Q1 24. I think when the £2mln arrives mid-end May we'll have more of a following. I am a long time lurker but have recently invested some small % of the portfolio. will reassess as news and revenues increase.
Good luck
Because of the BOD!
£2m on the way from logik
Company generating revenue
Strong future orders and pipeline
Can someone explain how come this is valued under £3m
@MyIPA - I'm definitely well out of date, luckily I've got a bank holiday weekend to catch up.