Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy - Signs deal with Anaergia Inc for the construction and operation of a multi-technology, waste-to-energy facility at Southport Hybrid Energy park in Merseyside, UK. The company says the plant will accept 80,000 tonnes of pre-processed municipal solid waste annually. It will both recover organics produce refused-derived fuel and an Anaergia anaerobic digestion facility, which is designed to convert the recovered organics into six million cubic metres of biomethane every year, to be injected into the national gas transmission system.
Chief Executive Officer David Palumbo says: "Anaergia has been a great partner at our Deeside project, and we are very happy to be co-developing Southport with them as well. The future of renewable energy beyond fossil fuels will be a mixed economy, and the Deeside and Southport plants will demonstrate that. These projects are at the cutting edge of clean, waste-to-energy and hydrogen innovation in the UK."
Eqtec is co-developer and gasification technology provider to the Southport project. In September 2021, the company entered into a conditional Share Purchase Agreement to acquire full ownership of Shankley Biogas and the project from Rotunda.
Anaergia, based in Burlington, Canada, provides solutions for extracting organics from waste, implementing anaerobic digestion, and cleaning water.
The Southport project will directly address the challenges of waste reduction and the need for clean energy, while also creating local jobs.
The deal has been signed through Eqtec's wholly-owned subsidiary Southport WTV Ltd, and its partners Rotunda Group Ltd and Rotunda's subsidiary, Shankley Biogas Ltd.
Current stock price: up 0.9% at 0.57 pence
12-month change: down 60%
By Xindi Wei; xindiwei@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Eqtec (EQT)