Last checked at 3 Jun 2019 10:09
3 June 2019
EQTEC plc
("EQTEC" or the "Company")
Loan Facility drawdown
EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, today announces a £0.2 million drawdown under the £3.5 million loan facility with Altair Group Investment Limited ("the Loan Facility"). Further details on the Loan Facility were announced on 22 January 2019. A balance of £0.679 million remains available to be drawn down under the Loan Facility.
This drawdown will allow the Company to focus its resources on achieving contract execution and these funds will be used for working capital purposes in line with this objective.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Enquiries
EQTEC plc | +353 (0)21 2409 056 |
Ian Price - Chief Executive Officer Gerry Madden - Finance Director | |
Strand Hanson - Nomad, Financial Adviser & Broker |
+44 (0) 207 409 3494 |
James Harris/Richard Tulloch/Jack Botros
| |
IFC Advisory - Financial PR & IR | +44 (0) 203 934 6630 |
Tim Metcalfe / Miles Nolan / Zach Cohen |
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.