Loan Facility drawdown

RNS Number : 9227A

EQTEC PLC

03 June 2019

 

3 June 2019

EQTEC plc

("EQTEC" or the "Company")

Loan Facility drawdown

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, today announces a £0.2 million drawdown under the £3.5 million loan facility with Altair Group Investment Limited ("the Loan Facility").  Further details on the Loan Facility were announced on 22 January 2019.  A balance of £0.679 million remains available to be drawn down under the Loan Facility.

This drawdown will allow the Company to focus its resources on achieving contract execution and these funds will be used for working capital purposes in line with this objective.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries

EQTEC plc	[phone]
Ian Price - Chief Executive Officer Gerry Madden - Finance Director
Strand Hanson - Nomad, Financial Adviser & Broker	[phone]
James Harris/Richard Tulloch/Jack Botros
IFC Advisory - Financial PR & IR	[phone]
Tim Metcalfe / Miles Nolan / Zach Cohen

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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