Last checked at 14 Dec 2018 07:00
14 December 2018
EQTEC plc
("EQTEC" or the "Company")
Financing facility drawdown
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that the Company has drawn down a third tranche amounting to US$864,000 under the US$10 million financing facility provided by Cuart Investments Fund and associates further details of which were announced by the Company on 27 September 2018 and 5 July 2018. The total amount drawdown to date under the financing facility amounts to US$3,328,000 (approximately £2.6 million).
The proceeds of the drawdown will be used to further develop the Company's existing project portfolio, to avail of possible investment opportunities and for general working capital.
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 (0)21 2409 056 |
Ian Price - Chief Executive Officer Gerry Madden - Finance Director |
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Northland Capital Partners Limited - Nomad and Broker | +44 (0)20 3861 6625 |
David Hignell / Dugald J. Carlean |
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Luther Pendragon - Financial PR | +44 (0)20 7618 9100 |
Harry Chathli / Alexis Gore / Joe Quinlan |
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Notes to Editors
About EQTEC plc
EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects 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. Furthermore, EQTEC will provide O&M services to the operating projects 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