TIDMEQT

RNS Number : 7025S

EQTEC PLC

18 July 2022

18 July 2022

EQTEC plc

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

Resolution to grant planning consent at Southport Project

EQTEC plc (AIM: EQT), a world-leading technology innovation company enabling the Net Zero Future through advanced solutions for hydrogen, biofuels, SNG and other energy production , is pleased to announce that it has secured a resolution to grant revised planning consent for a Phase 1 waste recycling and anaerobic digestion facility at its Southport Hybrid Energy Park project (the "Project") with partner, Rotunda Group Ltd ("Rotunda") and its subsidiary, Shankley Biogas Ltd.

Sefton Council's Planning Committee has granted revised planning permission via delegated powers for the Project to build a complete and local waste-to-energy solution.

The Phase 1 plan for the Plant includes a waste processing facility, an anaerobic digestion ("AD") facility, combined heat and power ("CHP") engines and a 2MW battery storage facility, all developed with Anaergia, Inc. ("Anaergia"). Anaergia has also agreed to provide EPC and O&M services for Phase 1, as the Company announced on 24 June 2022. The waste processing facility would separate renewables for recycling elsewhere, separate organics for use by the AD facility and produce refuse-derived fuel ("RDF"). The Phase 1 Plant would convert 80,000 tonnes of waste per year for six million cubic metres of biomethane to be injected into the national gas transmission system, also pulling gas from the grid to generate 9MWe for export to the national electricity transmission system.

The Company, which is leading development of the Plant, has been working on a Phase 2 plan which could add EQTEC synthesis gas ("syngas") technology to convert 25,000 tonnes of RDF per year, supplied by the Plant's waste processing facility, into an estimated 2.5 - 3.0MWe of clean electricity.

More recently, and in line with their Strategic Collaboration Agreement ("SCA"), the Company and Wood have agreed to co-develop a RDF-to-clean hydrogen solution that would replace or augment the Phase 2 RDF-to-electricity solution. The RDF-to-hydrogen solution would combine the Company's syngas technology with Wood's VESTA syngas-to-hydrogen technology. Implementation of the solution is subject to further planning permission.

With both Phase 1 and Phase 2 solutions in place, the full Plant facilities are expected to export to the grid the equivalent of 20% or more of Southport's energy requirement.

David Palumbo, CEO, EQTEC, commented:

"This is great news for Southport, which we have anticipated these past months. As the co-developer of the project, EQTEC has a strong interest in seeing construction get underway and this advances us significantly toward that work. With Anaergia positioned as the technology, EPC and O&M partner on Phase 1, we have a strong foundation on which to proceed with Phase 2, which would position EQTEC and Wood to deliver the UK's first RDF-to-syngas-to-hydrogen capability. We enjoy strong local relationships, strong local support and strong partners, a perfect combination for building this innovative, commercially sustainable, baseload energy solution for Southport's Net Zero future."

Further information about the Project

EQTEC is co-developer and gasification technology provider of the development project for Southport Hybrid Energy Park, working closely in partnership with Rotunda Group Limited and its subsidiary Shankley Biogas Limited at Watts Industrial Estate, Southport Hybrid Energy Park, Crowland Street, Southport, Merseyside, UK. In September 2021 the Company signed a conditional Share Purchase Agreement to acquire full ownership of the Project.

ENQUIRIES

 
 EQTEC plc                                    +44 203 883 7009 
 David Palumbo / Nauman Babar 
                                             --------------------------- 
 
 Strand Hanson - Nomad & Financial Adviser    +44 20 7409 3494 
                                             --------------------------- 
 James Harris / Richard Johnson 
                                             --------------------------- 
 
 Arden Partners - Joint Broker                +44 20 7614 5900 
                                             --------------------------- 
 Ruari McGirr (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                    EQTEC@almapr.co.uk 
                                             --------------------------- 
 
                                              +44 (0) 20 7457 2381 / +44 
 Instinctif - General Media Enquiries          (0) 7887 884794 
                                             --------------------------- 
 Chris Speight / Tim Field                    EQTEC@instinctif.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 .

About Anaergia

Anaergia was created to eliminate a major source of greenhouse gases ("GHGs") by cost effectively turning organic waste into renewable natural gas ("RNG"), fertilizer and water, using proprietary technologies. With a proven track record from delivering world leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the Municipal Solid Waste, Municipal Wastewater, Agriculture, and Food Processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.

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July 18, 2022 02:05 ET (06:05 GMT)

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