Last checked at 15 Jan 2020 11:00
15 January 2020
EQTEC plc
("EQTEC", the "Company" or the "Group")
Approval for RDF testing at University of Lorraine Gasification Plant
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, is pleased to announce that its wholly owned subsidiary, EQTEC Iberia SLU, has received approval from LERMAB (the University of Lorraine's research laboratory on wood material) to carry out tests utilising Refuse Derived Fuel ("RDF") at the Feedstock Research and Demonstration Plant (the "Plant") built in collaboration with EQTEC, located at the University of Lorraine ("UL"), in France.
The Company believes that the ability to test RDF as a feedstock in the UL Plant is of significant importance, as it should provide EQTEC with accurate operational data on the behaviour of project specific types of RDF, which the Company can then share with, inter alia, both potential and existing project partners, funders and stakeholders. EQTEC considers that such operational data is critically important in order to widen the number of potential providers of project funding and it could potentially reduce the timeline to financial close by enabling a commercial understanding of the feedstock at an earlier stage in the project process. In addition, the Company anticipates that access to the data can assist in reducing the cost of insurance backed premiums in relation to performance warranties. For these reasons, the Company believes that this will lead to increased demand for its technology.
EQTEC has been collaborating with Doctor Yann Rogaume from LERMAB, as well as UL's Engineering School, ENSTIB (National School of Wood Technologies and Industries), since 2012. In 2014, EQTEC's proprietary gasifier technology was selected as the technology for the Plant testing facility, which was built in 2015 having been financed from French and European public funds.
Several tests have been carried out since 2016 on various biomass fuels. During 2019, following an upgrade, the Plant was also utilised for RDF tests by blue chip operators in the waste sector, such as TIRU, a subsidiary of EDF Group specialising in waste recovery. These RDF tests were conducted under the auspices of the 'Terracotta Project', in which the Company was involved alongside EDF, the French National Centre for Scientific Research (CNRS), TIRU and UL. The aim of the 'Terracotta Project' has been to assess the feasiblity of RDF gasification at an industrial scale, the results of which have been positive to date.
Yoel Aleman, CTO of EQTEC, commented:
"We are excited that this important RDF testing capability has been approved at Lorraine University. We believe that this will deepen and strengthen our relationship with universities and research centres committed to finding energy from waste solutions, which are both commercially viable and environmentally sound, through the use of our EGT technology. The skills and experience at LERMAB are world class and this collaboration should continue to bring value by reassuring strategic partners and operators in the space about the capabilities of our technology. We are very proud of LERMAB's and the University of Lorraine's continued endorsement of our technology."
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
Enquiries
EQTEC plc | +353 21 2409 056 |
David Palumbo / Gerry Madden
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Strand Hanson - Nomad & Financial Adviser | +44 20 7409 3494 |
James Harris / James Dance / Jack Botros
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SI Capital Limited - Broker | +44 1483 413 500 |
Nick Emerson / Jon Levinson
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IFC Advisory - Financial PR & IR | +44 20 3934 6630 |
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Notes to Editors
About EQTEC plc
EQTEC is the technological solution partner for converting waste to clean energy.
EQTEC mission is to provides sustainable technological solutions to address two of the world's greatest challenges: managing rising levels of waste and meeting the growing demand for clean energy.
EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects which will convert waste into clean energy, to which it will ultimately sell its EQTEC Gasifier Technology ("EGT") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.
EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects.
EQTEC also seeks to provide Operation & Maintenance services to established operating co-generation plants generating recurring revenues over the life of the projects.
The Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com.