Financing facility drawdown

RNS Number : 4602K

EQTEC PLC

14 December 2018

 

14 December 2018

EQTEC plc

("EQTEC" or the "Company")

Financing facility drawdown

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, announces that the Company has drawn down a third tranche amounting to US$864,000 under the US$10 million financing facility provided by Cuart Investments Fund and associates further details of which were announced by the Company on 27 September 2018 and 5 July 2018. The total amount drawdown to date under the financing facility amounts to US$3,328,000 (approximately £2.6 million). 

The proceeds of the drawdown will be used to further develop the Company's existing project portfolio, to avail of possible investment opportunities and for general working capital.

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]
Ian Price - Chief Executive Officer Gerry Madden - Finance Director
Northland Capital Partners Limited - Nomad and Broker	[phone]
David Hignell / Dugald J. Carlean
Luther Pendragon - Financial PR	[phone]
Harry Chathli / Alexis Gore / Joe Quinlan

 

Notes to Editors

About EQTEC plc

EQTEC's business model involves sourcing and providing assistance in developing waste elimination projects to which it will ultimately sell its EQTEC Gasifier Technology ("EGT") and O&M services. EGT enables project developers to construct waste elimination plants and recover electrical and thermal energy from the waste streams.

EQTEC sources projects that have a local supply of waste in need of elimination and conversion. It builds relationships and brings together the developers, the waste owners, the building contractors and funders. It then supplies the energy recovery technology and provides engineering services to the projects. Furthermore, EQTEC will provide O&M services to the operating projects generating recurring revenues over the life of the projects.

The Company is quoted on AIM and trades as EQT. Further information on the Company can be found at www.eqtecplc.com

 

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