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7 Sep 2021 07:00
7 September 2021
EQTEC plc
("EQTEC", the "Company" or the "Group")
Southport Project Co-Development and Option Agreement Extension
EQTEC plc (AIM: EQT), a world-leading gasification solutions company that is building the future of a cleaner waste-to-energy industry, announces that, further to its announcement of 7 September 2020, it has agreed to extend the option period as set out in the Co-Development and Option Agreement with Rotunda Group Ltd. ("Rotunda") and its subsidiary Shankley Biogas Ltd. It is expected that the agreement will involve EQTEC taking full ownership of the Southport Hybrid Energy Park project from Rotunda through the acquisition of Shankley Biogas Ltd, the Project SPV.
Despite best efforts by all parties to conclude the acquisition prior to the end of the option period, an unanticipated Covid-19 related delay occurred and this has led to the mutually agreed extension to the option period to 30 September 2021.
The parties have agreed all commercial terms, are in the final stages of the legal process and expect the acquisition to be completed in the coming weeks.
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 | +44 203 883 7009 |
David Palumbo / Nauman Babar | |
Strand Hanson - Nomad & Financial Adviser | +44 20 7409 3494 |
James Harris / James Dance | |
Arden Partners - Joint Broker | +44 20 7614 5900 |
Paul Shackleton (Corporate) / Simon Johnson (Sales) | |
Canaccord Genuity - Joint Broker | +44 20 7523 8000 |
Henry Fitzgerald-O'Connor / James Asensio / Patrick Dolaghan | |
Alma PR - Financial Media & Investor Relations | +44 20 3405 0205 |
Josh Royston / Sam Modlin / Matthew Young | EQTEC@almapr.co.uk |
BECG - General Media Enquiries | +44 7554 014 188 / +44 7867 452 269 |
Carrie Lowe / Tom Gosschalk | EQTEC@BECG.com |
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.
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