Italia MDC Update

RNS Number : 5266K

MetalNRG PLC

22 December 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

22 December 2022 

MetalNRG plc

  Mechanical and electrical completion at Italia MDC

MetalNRG plc ("MetalNRG" or the "Company")  is pleased to confirm mechanical and electrical completion at its joint venture waste to energy plant in Italy near Castiglione d'Orcia, Tuscany, (the "Plant") and commercial operations date ("COD") at the Plant in early 2023.

Further to its project status update of 22 November 2022, the Company can now confirm that all mechanical and electrical components are in place and installed, with all enhancements to the Plant including the additional feeding-in system, the dryer and the thermal oxidizer added to improve the resilience of the Plant's business model.

Work at the Plant has proceeded in a timely manner, but due to supply chain delays and the late arrival of critical components, the unavailability of suppliers to support testing of ancillary equipment and weeks of severe weather at the site, final performance testing and COD will now be completed early in the New Year. The Company and the Board of EQTEC Italia MDC srl (the "SPV") have noted the significant progress made by the commissioning team which will break for holidays on 23 December and re-start work in the first week of January 2023. 

The Company will continue to provide updates on  its progress with Italia MDC.

Rolf Gerritsen commented " with the holiday season coming up and most people taking a week off work, it only makes sense to secure full commissioning of the Plant in the New Year when full support is available if difficulties should arise. I congratulate the team on site for a job well done".

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Contact details:

MetalNRG plc Rolf Gerritsen Christopher Latilla-Campbell	[phone]
Corporate Broker PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey	[phone]
Corporate Broker SI CAPITAL LIMITED Nick Emerson	[phone]

	4148-7076-0001.1

 

 

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