Eqtec (CDI) (EQT)

Sector:

Construction and Building Materials

Index:

FTSE AIM All-Share

 1.85p
   
  • Change Today:
      0.000p
  • 52 Week High: 4.05
  • 52 Week Low: 0.28
  • Currency: UK Pounds
  • Shares Issued: 181.49m
  • Volume: 62,568
  • Market Cap: £3.36m

Eqtec secures planning resolution from Flintshire council

By Josh White

Date: Thursday 28 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Waste-to-energy gasification technology company Eqtec announced on Thursday that it has secured a resolution to grant planning consent for an advanced gasification facility deploying its technology at its Deeside refuse-derived fuel project with its partner Logik Developments in Flintshire, Wales.
The AIM-traded firm said Flintshire County Council's planning committee had resolved to grant planning permission for the proposed 9.9 MWe plant to enable a "complete and local" waste-to-energy solution, combining a 182,000 tonne waste reception plant along with anaerobic digestion (AD) and Eqtec's advanced gasification technology.

It said the planning authority's decision followed its prior approval of the site for the original plan of a recycling and AD facility.

The additional phase 2 permission created an "enhanced" integrated waste-to-energy solution that was more environmentally-friendly and economically-efficient than legacy alternatives, the board said, in order to address the challenges of waste reduction and the need for clean energy, while also creating local jobs.

Eqtec said the project supported Flintshire County Council's ambitions to achieve net zero carbon emissions by 2030, and its overarching climate change agenda.

The company also announced that it had entered into a cooperation agreement with Anaergia, through project special vehicle Logik WTE, to develop a proposal for the delivery of the multi-technology waste-to-energy project at Deeside.

Under the deal, Anaergia would develop the engineering design for both the waste processing facility and the AD plant.

The processing facility would take the waste and produce the required standard of refuse-derived fuel for Eqtec's gasification technology employed at the plant.

It would also use Anaergia's 'OREX' extrusion press to recover organics from the waste, which would be processed in Anaergia's AD plant to produce renewable natural gas (RNG) that would be injected into the national gas grid.

Anaergia had deferred the majority of its fees for the front-end engineering and design until financial close, to demonstrate its commitment in the project and partnership.

In addition to the process and design, the parties agreed to work exclusively together to reach commercial agreements for the design and build of the waste processing and the AD technologies, and for the operation and maintenance of the plant for a minimum of five years.

"We are delighted by the resolution to grant planning consent for the RDF project at Deeside, with our technology enhancing the existing permission for recycling and anaerobic digestion facilities, to achieve a better environmental profile than other waste-to-energy methods," said chief executive officer David Palumbo.

"This milestone underlines the significance of Eqtec's advanced gasification technology for reducing waste, producing green energy, powering local industry and communities, and generating local jobs.

Palumbo said the decision "paved the way" for the firm to formalise its agreement with Anaergia, with "appetite and synergies" between the two parties to replicate the same type of project configuration on other plants in the UK, and possibly globally.

"It will also accelerate our partnership with Toyota, taking us a step closer to delivering a localised and environmentally friendly waste-to-energy plant for the area around Deeside.

"Our advanced gasification is not a concept technology for the future but a proven solution for today's challenges of waste management and clean energy generation."

At 1144 BST, shares in Eqtec were up 3.88% at 1.21p.

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Eqtec (CDI) Market Data

Currency UK Pounds
Share Price 1.85p
Change Today 0.000p
% Change 0.00 %
52 Week High 4.05
52 Week Low 0.28
Volume 62,568
Shares Issued 181.49m
Market Cap £3.36m

Eqtec (CDI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
69.41% below the market average69.41% below the market average69.41% below the market average69.41% below the market average69.41% below the market average
51.22% above the sector average51.22% above the sector average51.22% above the sector average51.22% above the sector average51.22% above the sector average
Price Trend
94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average94.03% above the market average
7.32% below the sector average7.32% below the sector average7.32% below the sector average7.32% below the sector average7.32% below the sector average
Income Not Available
Growth
35.08% above the market average35.08% above the market average35.08% above the market average35.08% above the market average35.08% above the market average
41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average

Eqtec (CDI) Dividends

No dividends found

Trades for 26-Apr-2024

Time Volume / Share Price
15:49 26,402 @ 1.85p
15:35 4,839 @ 1.82p
15:28 11,191 @ 1.85p
15:23 15,000 @ 1.85p
09:41 4,018 @ 1.82p

Eqtec (CDI) Key Personnel

CEO David Palumbo

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