RE: RNS1 Feb 2022 07:05
David Palumbo, CEO of EQTEC, commented:
"The final quarter of 2021 was busy for us and rewarding as a result. The foundations we set in 2020 and 2021 are now supporting targeted growth: joint ventures in target markets, Market Development Centres and an ecosystem of partners that take over more of the project lifecycle, toward an increasing focus for EQTEC on licensing and innovating our technology. We are active now in seven markets and have opened the door for more as we scale. Despite some challenging market conditions, particularly raw materials shortages, higher prices and increased shipping costs and times, we have delivered over four times revenue growth and find ourselves in a strong position to grow even faster. We will do this across both geographical and solutions markets, driving innovation and better targeting of demand, together with our local and some multinational partners. 2022 will see us commission more plants with more operational availability and prove our case that EQTEC syngas is the future for reliable, carbon-negative, baseload energy and biofuels."