Eqtec Regulatory News (EQT)

24 November 2021

EQTEC plc

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

Croatia Joint Venture update

Belišće Project Financial Close and Karlovac Project first phase funding secured

EQTEC plc (AIM: EQT), a world-leading gasification solutions company building the future of a cleaner waste-to-energy industry, is pleased to announce that financial close has been achieved for the Belišće Project ("Belišće") and first phase funding for a second project in Karlovač ("Karlovač") has been secured. Both projects are being developed by Synergy Projects d.o.o. ("Synergy Projects") the Company's Croatian joint venture with local project development partner Sense ESCO d.o.o. ("Sense ESCO").

Highlights

David Palumbo, CEO of EQTEC, commented:

"We are very pleased to complete financial close at Belišće, our Market Development Centre in Croatia and also confirm first phase funding for the Karlovac project in collaboration with our Croatian joint venture partner, Sense ESCO. Both of these projects are designed to provide a community cooperative model to local stakeholders, taking responsibly managed waste from each plant's surrounding areas and turning it into clean energy. We are applying project delivery focus and technical innovation towards commissioning these projects and delivering value to the local communities in 2022."

More information about Belišće and Karlovač projects

The project at Belišće was originally commissioned in 2016 and the plant was built around EQTEC's proprietary and patented Advanced Gasification Technology. The 1.2MWe plant will be recommissioned, upgraded to 1.5MWe and repowered to convert forestry wood waste from local farms and forests into green electricity and heat for use in the local community. It will also operate as an EQTEC Market Development Centre, where the Company will demonstrate EQTEC's technology in a fully operational, commercial environment.

The project in Karlovac sits on a site that contains a decommissioned plant which originally employed an early gasification technology from a third party. When redesigned, reconfigured and commissioned, the 3.0MWe plant will transform locally sourced wood chips and forestry wood waste from regional forests into green electricity for use by the local community and also produce high quality biochar to supply the growing demand of this commodity in Europe.

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

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.