Italian Waste to Energy Plant Update

RNS Number : 1869Q

MetalNRG PLC

26 October 2021

 

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("EUWA")) ("UK MAR").

 26^th October 2021

METALNRG plc

("MetalNRG" or the "Company")

Italian Waste to Energy Plant Recommissioning Update

MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to provide an update on progress being made on the recommissioning of EQTEC Italia MDC waste-to-energy plant.

MetalNRG is part of a consortium of co-investors, led by EQTEC plc (AIM: EQT) ("EQTEC"), which recently formalised the intention to recommission the 1 MW biomass-to-energy plant in Tuscany, Italy.

The facility, originally commissioned in 2015, is built around EQTEC Advanced Gasification Technology and when operational, Italia MDC will  transform straw and forestry wood waste sustainably sourced from local farms and forests into green electricity and heat for the local community.  

EQTEC recently stated that recommissioning of the project is continuing on track, with recent developments including that:

· the EQTEC technical team has been on site, completing engineering surveys, as well as meeting EPC partners and local stakeholders;

· the site has been fully cleaned;

· disassembly of relevant components was completed earlier this month; and

· EQTEC Advanced Gasification Technology and associated technology items, including the syngas filter, water treatment unit, heat exchanges and thermal cracker reactor burner, have now been ordered and deliveries are due to start arriving in late November.

We announced to the market at the financial close of this transaction that we expected the plant to be fully recommissioned by Q2 2022. We are confident, at this stage of proceedings, that this announced time-line will be maintained. We expect to provide another update on progress to the market in early 2022.

A series of pictures can be viewed on the Company's web site, www.metalnrg.com .  

The release of this information was arranged by Rolf Gerritsen, Chief Executive Officer.

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Contact details:

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

 

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