Collaboration Framework Agreement with Domi Ost

EQTEC PLC

25 July 2023

 

25 July 2023

EQTEC plc

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

Collaboration Framework Agreement with Domi Ost

EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, is pleased to announce that it has signed a Collaboration Framework Agreement (the "Agreement") with Domi Ost Limited ("Domi Ost"), an Irish development and project management company dedicated to bringing advanced biofuel production to Ireland, other European markets and the UK.

Through the Agreement, the Company and Domi Ost (together, the "Parties") will collaborate on the design and development of projects in Ireland that deploy EQTEC synthesis gas ("syngas") technology for conversion of forestry, agricultural, industrial, municipal or other waste into renewable natural gas ("RNG"), hydrogen or other advanced applications such as ethanol or methanol.

The Parties have identified four projects to pursue together and have already undertaken qualification on one of them, including engagement with the prospective client. The Company will update the market as projects under review are qualified and managed through the pipeline.

Under the Agreement, Domi Ost will incubate and shape demand in Ireland and potentially other markets, manage stakeholders and drive project implementation. Domi Ost will also source and contract key parties for investment and delivery of projects, leaving EQTEC to focus on engineering and core technology integration and licensing. The Parties envision working with other third parties for syngas-to-molecule applications, as well as for construction of new energy plants.

The Agreement envisions no investment of either capital or unpaid resources by EQTEC into any projects targeted by the Parties. Any projects the Parties elect to progress to full development will be subject to separate, detailed contracts.

Domi Ost is a development and project management company whose management bring decades of experience shaping and managing petrochemical and renewable energy projects in Ireland, across Europe and around the world. Domi Ost anticipates a good market in Ireland for advanced syngas technology for production of RNG, hydrogen and other chemicals.

The Agreement follows the Company's announcement together with its annual results on 05 May 2023 that it was engaging with partners toward Ireland-based projects in support of Ireland's IT services industry, de-carbonisation of the national grid and creation of autonomous, sustainable alternatives to traditional energy solutions. The Company's 2023 annual report also contains a profile of Domi Ost as a partner.

Jeffrey Vander Linden, COO of EQTEC, commented: 

"EQTEC's ability to design, model, deploy and commission its proprietary and patented process technology to produce highly efficient, versatile and clean syngas from a wide range of waste types makes us uniquely fit for a range of offtake applications, including advanced biofuels. We are pleased to extend our engagement with RNG and hydrogen opportunities and to explore the potential for syngas-to-ethanol or similar applications.

"We have long been interested in working more in Ireland, and with the government's commitment to decarbonisation standing alongside increasing investor interest in supporting the journey, we are very happy to formalise our working relationship with Domi Ost. Our work to date with Domi Ost has been a pleasure-we are particularly inspired by its commitment to the highest professional standards and its dedication to quality project execution."

Kieran Gaughan, Director of Domi Ost, commented: 

"Ireland is really just getting started with advanced energy applications such as those made possible by syngas-based solutions. We at Domi Ost have always been passionate about bringing advanced biofuel production to Ireland, as well as to other European markets and the UK, so a collaboration with EQTEC is a natural choice for us in making that possible.

"Although syngas-based applications are not a one-size-fits-all solution for Ireland or anywhere else, they offer true potential for baseload energy and therefore for replacing fossil fuels. Given our commitment and the Irish government's commitment to decarbonisation of the national grid, the syngas approach makes a lot of sense. We know of no one better than EQTEC for syngas-based solutions, and so we are very happy to work alongside it on our journey toward fuel sustainability and business resilience while decarbonising Ireland."

ENQUIRIES

EQTEC plc David Palumbo / Nauman Babar	[phone]
Strand Hanson - Nomad & Financial Adviser James Harris / Richard Johnson	[phone]
Panmure Gordon - Broker John Prior / Hugh Rich	[phone]
Instinctif - Media & investor relations enquiries Guy Scarborough / Tim Field	[e-mail] [phone] / [phone]

About Domi Ost

Domi Ost Limited is an Ireland-based project development company with the mission of sustainably decarbonising Ireland while ensuring business resilience. As Ireland seeks to decarbonise its energy grid and transport sectors by encouraging new, renewable technologies that support the country's economic growth, Domi Ost is quickly finding routes to market for EQTEC's syngas technology, as well as for other, complementary technologies.

Domi Ost's founding directors' objectives are identifying and forming high-quality and high-impact clean energy opportunities and driving project success, as a response to Ireland's 'green' challenge. The company is also dedicated to decarbonising Ireland while creating value for stakeholders and business resilience though fuel sustainability and deployment of EQTEC's clean, syngas technology in Ireland, be it for combined heat and power (CHP), renewable natural gas (RNG) or other applications including bioethanol or biomethanol production.

EQTEC and Domi Ost are currently discussing sustainability opportunities for heavy energy user sectors and transport services in Ireland. Both sectors have grown significantly over the past two decades, and Ireland intends to grow them further, with a clean energy footprint. Beyond the considerable power requirements inherent in delivery of services, investors in the industry sector are looking at options for strong investment cases for clean generation of baseload power. The transport sector is looking at a decarbonisation strategy that includes biofuels or other chemicals to support Ireland's overall objective of a clean carbon footprint.

About EQTEC

As one of the world's most experienced thermochemical conversion technology and engineering companies, EQTEC delivers waste management and new energy solutions through best-in-class innovation and infrastructure engineering and value-added services to owner-operators. EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. 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, specifies and delivers clean, syngas production solutions in the USA, EU and UK, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of feedstock, including forestry waste, agricultural waste, industrial waste 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 renewable 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 the London Stock Exchange's Alternative Investment Market (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.

 

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