EQTEC plc (LON: EQT) CEO Ian Price talks to DirectorsTalk about the markets it is in and the opportunities that it has. Ian provides us with some background around the US biomass market, where EQTEC fits in and Spain & the Mediterranean markets where its unique olive pomace is being used as feedstock.
The company also makes the following statement in relation to EBIOSS Energy SE.
On 7 March 2019, EBIOSS, the Company’s largest shareholder, announced that it had signed an exclusive collaboration agreement with Urbaser S.A.U. to identify and secure opportunities for the collection, treatment and, where suitable, the conversion of waste into energy. The EBIOSS announcement stated that the Parties have agreed, subject to Urbaser technical due diligence, to use EQTEC’s gasification technology for waste to energy gasification projects in Bulgaria, Greece, Macedonia and potentially Romania.
EQTEC confirms that it is not party to the Agreement and that there is no-binding commitment on the Company pursuant to the Agreement for the provision of its technology to the Parties.
On 19 March 2019, the Company received a clarificatory letter from EBIOSS in relation to the terms of the Agreement and the Parties’ intentions regarding the potential use of EQTEC’s technology. EBIOSS has confirmed that, in respect of waste treatment and disposal projects, the Parties will use EQTEC’s gasification technology, subject to successful completion of Urbaser technical due diligence and all parties, including EQTEC, agreeing terms, including the commercial basis of any contract. EQTEC confirms that it will conduct due diligence on any potential opportunities that are presented to it by the Parties pursuant to the Agreement.
Ian Price, CEO of EQTEC plc, commented:
We are pleased to note the Agreement between EBIOSS and Urbaser, and we are encouraged by this statement of intent by the Parties to use our technology and the further validation that this would bring to the Group.
Urbaser is a leading integrated waste and resource management company, providing solutions to local authorities, businesses and the general public with strong project experience in the waste to energy space. We look forward to evaluating each opportunity as and when it arises in order to assess its ability to increase shareholder value.