Eqtec Regulatory News (EQT)

11 July 2022

EQTEC plc

("EQTEC", the "Company" or the "Group")

Appointment of Black & Veatch for Powertrain FEED on Deeside Project

EQTEC plc (AIM: EQT), a world-leading technology innovation company enabling the Net Zero Future through advanced solutions for hydrogen, biofuels, SNG and other energy production, is pleased to announce that, further to its announcement on 30 June 2022, Deeside WTV Limited, a wholly owned subsidiary of EQTEC has appointed Black & Veatch (U.K.) Limited ("Black & Veatch"), a global engineering, procurement, consulting and construction company specialising in sustainable infrastructure development, to undertake the powertrain front-end engineering design ("FEED") for Phase 2 of the Company's project at Deeside, Flintshire, UK (the "Project").

The Black & Veatch scope of work includes FEED engineering and preparation of an EPC cost estimate for power generation equipment and systems. The scope does not include but is intended to complement the engineering work already undertaken by the Company and others for the feeding-in system, gasification island upstream in the process from the powertrain as well as civil, structural and architectural design. Black & Veatch will undertake FEED refinement of the conceptual design, solicitation of equipment pricing, and preparation of an EPC construction cost estimate.

This appointment builds on Black & Veatch's previous work on the Project announced by the Company on 01 April 2022, which included a peer review and gap analysis of the overall Project including technology interfaces.

The appointment also comes in the wake of similar appointments by the Company, whereby it has confirmed formal agreements with a range of technology and delivery partners whose capabilities complement the Company's own. Through these relationships, the Company seeks to develop a global partner network to support delivery of EQTEC's proposition of its world-leading syngas technology for a range of baseload energy and biofuel solutions in the Net Zero future.

David Palumbo, CEO of EQTEC, said:

"This appointment of Black & Veatch advances our progress on the Deeside project and deepens our relationship with top-tier delivery partners. Completion of this next piece of work, together with the considerable design work already completed on the other elements of the project will put us in a strong position for financial close and set us up for delivery of the second phase of the innovative, multi-technology plant we have in mind for Deeside. With the added support of local customers, suppliers and the local authority, we are in an outstanding position to deliver real value to the local community, from locally sourced waste."

Paul Harmer, Director of Conventional Generation at Black & Veatch UK, said:

"The Deeside project is a very exciting one to be involved with, and we're pleased that our role has been formally confirmed, following delivery of our initial review of the overall project. We're delighted to support EQTEC with the FEED requirements, to ensure the team can continue the momentum towards financial close and subsequent operations."

Further information about the Project

EQTEC is lead developer and technology provider for the Project in partnership with Logik and Anaergia Inc. through the Project SPV. As announced on 28 October 2021, Flintshire County Council's Planning Committee has resolved to grant planning permission for the proposed 9.9 MWe plant to enable a complete and local waste-to-energy solution, combining a 182,000-tonne waste reception plant along with 2 MW anaerobic digestion ("AD") and EQTEC Advanced Gasification Technology. The planning authority's decision follows its prior approval of the site for the original plan of a recycling and AD facility. Additionally, through the Project, EQTEC and Toyota are exploring an innovative, circular and sustainable waste-to-energy solution for Toyota's engine manufacturing plant in Deeside. The site is currently on 6.27 hectares of land off Weighbridge Road on Deeside Industrial Estate, one of Europe's largest such industrial sites. The Project site is wholly owned by the Project SPV (acquired December 2020) and was formerly a Gaz de France power station.

The Project is one of three waste-to-energy/fuel projects that the Group is developing in the UK, including at Billingham, Teesside and Southport, Merseyside.

ENQUIRIES

About EQTEC plc

As one of the world's most experienced gasification technology and engineering companies, with a growing track record of delivering operational and commercial success for transforming waste-to-energy through best-in-class technology innovation, engineering and project development, EQTEC brings together design innovation, project delivery discipline and solid commercial experience to add momentum to the global energy transition. EQTEC's proven, proprietary and patented technology is at the centre of clean energy projects, sourcing local waste, championing local businesses, creating local jobs and supporting the transition to localised, decentralised and resilient energy systems.

EQTEC designs, supplies and builds advanced gasification facilities in the UK, EU and US, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process over 50 varieties of feedstock, including forestry wood waste, vegetation and other agricultural waste from farmers, industrial waste and sludge from factories and municipal waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a pure, high-quality synthesis gas ("syngas") that can be used for the widest range of applications, including the generation of electricity and heat, production of synthetic natural gas (through methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.

EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.

The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.

Further information on the Company can be found at www.eqtec.com.