Collaboration Framework Agreement with Toyota

RNS Number : 8732R

EQTEC PLC

11 March 2021

 

11 March 2021

EQTEC plc

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

Collaboration Framework Agreement with Toyota Motor Manufacturing UK

EQTEC plc (AIM: EQT), a world leading gasification technology solutions company for sustainable waste-to-energy projects , is pleased to announce that it has signed a Collaboration Framework Agreement (the "Agreement") with Toyota Motor Manufacturing (UK) Limited ("Toyota").

The Agreement will be in place through EQTEC's wholly owned subsidiary, Logik WTE Limited (the "Project SPV"), the existing project SPV for the Deeside Refuse Derived Fuel project (the "DeesideRDF Project") in Flintshire, Wales . The Company is currently progressing a portfolio of advanced, waste-to-energy plant development projects across the UK, of which the Deeside RDF Project is one.

Highlights

· Through the Deeside RDF Project, EQTEC and Toyota (the "Parties") have agreed to collaborate to explore an innovative, circular and sustainable waste-to-energy solution for Toyota's engine manufacturing plant in Deeside;

· The Parties have entered into a formalised Collaboration Framework Agreement toward scoping and evaluating the potential supply of bio-methane gas and green electricity and conversion of manufacturing waste through the sharing of cost data, energy usage and other information;

· The duration of the Agreement is three years;

· It is expected the Parties will collaborate and assess the ability to develop a Project at Toyota's Deeside site; and

· If adopted, EQTEC's waste-to-energy solution could reduce the carbon footprint of the Toyota site on an annual basis.

Toyota and EQTEC will work together towards the possibility of establishing a supply of power and gas to the Toyota engine manufacturing site through the construction and commissioning of the Deeside RDF Project that is adjacent to the Toyota site . It is expected that the Deeside RDF Project will transform municipal, commercial and industrial waste. It will produce green bio-methane gas from the organic proportion of the waste with anaerobic digestion technology and convert the RDF portion of the waste, which would typically be destined for landfill or incineration, to generate green electricity, using EQTEC's Advanced Gasification technology and solutions.

Pursuant to the Agreement, the Parties will also identify the waste viability of reducing Toyota's non-recyclable waste and potentially converting some or all of the waste into energy, through the dual, waste-to-energy approach, to be developed at the Deeside RDF Project.

The Deeside RDF Project seeks to provide the local community, Toyota and other potential users with a decentralised energy source. It is intended that EQTEC will act as the land developer and technology provider for the plant.

David Palumbo, CEO of EQTEC, commented:

"Toyota has always been a leader in innovation and we are delighted to support and work with them on a localised sustainable waste-to-energy solution. This partnership further demonstrates the capabilities and applications of EQTEC's advanced gasification solutions and enhances our already strong pipeline of projects in development."

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

ENQUIRIES

EQTEC plc	[phone]
David Palumbo / Gerry Madden
Strand Hanson - Nomad & Financial Adviser	[phone]
James Harris / James Dance / Jack Botros
Arden Partners - Broker	[phone]
Paul Shackleton (Corporate) / Simon Johnson (Sales)
Maitland/AMO - Communications & PR/IR adviser	[phone]
James Benjamin / Rhys Jones	[e-mail]

About EQTEC plc

As the world's leading experts in gasification for sustainable waste-to-energy projects, EQTEC is building the future of the sector, combining its technology innovation and engineering with expert plant construction and project deliveries, to help drive the global energy transition. EQTEC's proven, proprietary and patented technology is at the centre of projects that aim to enhance local communities and champion local businesses with an improved environmental impact.

EQTEC designs and supplies advanced gasification solutions that have a higher efficiency product offering and are modular and scalable from 1MW to 30MW. EQTEC's versatile solutions are independently proven to process over 50 different types of feedstock, including municipal waste, agricultural waste, biomass and plastics with no hazardous waste or toxic emissions . EQTEC's solutions produce a uniquely pure high-quality synthesis gas (syngas), that is capable of being used for the widest applications in the creation of energy, hydrogen and biofuels.

EQTEC's proprietary technology design together with deployment and maintenance capabilities mitigate the risks when using third party equipment. EQTEC's Technology Integration capabilities enable the Group to lead collaborative ecosystems that build sustainable waste elimination and green energy infrastructure.

The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange awarded EQTEC the Green Economy Mark that 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 .

Existing EQTEC plants and sustainable waste-to-energy market opportunities

To date, four commercial plants have been built and are using EQTEC's advanced gasification technology. The oldest such plant, built in 2011, has operated for over 125,000 independently audited engine hours, receiving highly commendable feedback from leading gas engine company Jenbacher relating to purity of the syngas, reliability and efficiency.

EQTEC's technology and solutions have, in the Board's view, the potential to become a new UK and global standard for many traditional waste-to-energy facilities to collaborate with, reducing reliance on increasingly less attractive waste elimination methods and delivering new resilient and locally based clean energy infrastructure across the UK and internationally.

 

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