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MetalNRG PLC - investor in natural resources and energy - Confirms EQTEC Italia, its Italy-based waste-to-energy plant joint investment with London-based technology firm EQTEC PLC and two family offices, has completed handover protocols to EQTEC Italia and is transferring plant operations to EQTEC Italia MDC srl.
In March, the firm said its Italy Market Development Centre is operational. Says that this is part of its joint investment with gasification company Eqtec PLC. The 1.1 MWe plant, located in Gallina, near Castiglione d'Orcia, Tuscany, Italy had already commissioned gasification and biochar production capabilities in January 2023. On March 8, following commissioning of the Jenbacher 612 engine, the plant exported its first electricity to the national power grid.
Chief Executive Officer Rolf Gerritsen says: "We are pleased to see the operating company now fully in charge. The syngas quality and composition being measured is exceptionally high, and we are confident that EQTEC Italia MDC will benefit from the high performance of both electricity and biochar this will allow, we now look forward to finalising the refinancing of the plant."
Current stock price: 0.070 pence
12-month change: down 99%
By Xindi Wei, Alliance News reporter
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