EQTEC plc owns a proprietary technology known as EGT (EQTEC Gasifier Technology) for converting waste and biomass into synthetic gas, which is used to power gas turbines that produce electricity. This procedure is claimed to be more efficient than the traditional method of using waste to produce heat and hence steam to drive a turbine. EQTEC plc is a successor to REACT plc which is itself a successor to Kedco, which was listed on AIM in 2008. The change to EQTEC was made in December 2017 after a reverse take-over of EQTEC Iberia SL, both companies being majority owned by EBIOSS, a holding company that is listed on the Spanish stock exchange but has its origins in Bulgaria.
Exchange:London AIM (EQT)
Financial Data from Exchange website: LSE summary
Recent Financial Report: Interim Results to 30 June 2018
Further Information: EQTEC Iberia has installed the EGT technology in 8 Energy from Waste plants in 6 countries of continental Europe. In total the technology has accumulated 50,000 hours of operation. In June 2018 EQTEC signed an MOU with the Indonesian company CITRA for a 12MWe facility in Hanoi, Vietnam. Some of the equipment will come from the plant in Newry, Northern Ireland, which was put on “care and maintenance” in September 2014 because of its underperformance using traditional technology. The company also has an MOU for the EGT technology in a plant in Usk, Wales, and proposals for two plants in North East England.
In July 2018 the company finalised a secured debt facility from Cuart Investment Fund, a consortium put together by Origen Capital LLP which will provide £1.2m as a loan and an equity investment of £1.5m.
Building 1000, City Gate,
Chairman:Ian Pearson (non-executive)
CEO: Ian Price
Short description: Energy from waste and biomass
Fields of interest: Bioenergy