Eqtec Share News (EQT)

(Sharecast News) - Waste gas-to-energy technology company Eqtec has been awarded a contract for the upgrade of the existing syngas research and development facility at the University of Extremadura in Badajoz, Spain, it announced on Monday.
The AIM-traded firm said the award of the contract followed a successful funding application by the University to the European Regional Development Fund (ERDF) to secure funding for the testing of the production of biofuels from syngas, using a Fischer-Tropsch process and unit.

It said installation of such a unit would allow the production of sustainable biofuels, using the syngas produced from Eqtec's gasification process, which has been used at the facility since 2010.

Under the contract, Eqtec would be responsible for purchasing, installing, commissioning and startup of the Fischer-Tropsch unit, for which it has secured short-term project level financing from CaixaBank in Spain.

The installation of the unit, along with sign-off from the university, was expected in the third quarter, and on completion, the university will reimburse Eqtec from the ERDF funding.

Eqtec described the Fischer-Tropsch process as a catalytic chemical reaction, in which compounds in syngas are converted into liquid transportation fuels.

Following completion of the upgrade, Eqtec will have the ability to carry out tests with a variety of biomass and waste feedstocks, which would be processed into a clean syngas and then into sustainable biofuels such as biodiesel and other transportation fuels.

"Our continuous work with universities and technology research centres is a testament of our ambition to remain a technology thought leader in our sector and our desire to continue to develop our technology for wider applications," said Eqtec's chief technology officer Yoel Aleman.

"Having access to the testing Facility, where we could use the pure syngas produced from our advanced gasification technology to produce biofuels, should assist in validating to all future stakeholders the quality of our process and the versatility of application of our technology," Dr Aleman added.

Dr Juan F?lix Gonz?lez Gonz?lez, professor of the School of Industrial Engineering of the University of Extremadura, added that the university had been working with Eqte for "a number of years" now.

"We believe that their depth of knowledge and technical capabilities are second to none and that they have developed a technology that it is unrivalled in its versatility and reliability.

"We continue to endorse them to any player in the sector looking for a knowledgeable team, with technical expertise that can be applied to the most complex projects."

At 0859 GMT, shares in Eqtec were down 2.6% at 0.19p.