Statement re EBIOSS Agreement with Urbaser

RNS Number : 4792T

EQTEC PLC

20 March 2019

 

20 March 2019

EQTEC plc

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

Statement re EBIOSS Energy SE Collaboration Agreement with Urbaser S.A.U.

EQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, makes the following statement in relation to EBIOSS Energy SE ("EBIOSS").

On 7 March 2019, EBIOSS, the Company's largest shareholder, announced that it had signed an exclusive collaboration agreement with Urbaser S.A.U. ("Urbaser") (together with EBIOSS, the "Parties") (the "Agreement") to identify and secure opportunities for the collection, treatment and, where suitable, the conversion of waste into energy.  The EBIOSS announcement stated that the Parties have agreed, subject to Urbaser technical due diligence, to use EQTEC's gasification technology for waste to energy gasification projects in Bulgaria, Greece, Macedonia and potentially Romania.

EQTEC confirms that it is not party to the Agreement and that there is no-binding commitment on the Company pursuant to the Agreement for the provision of its technology to the Parties.

On 19 March 2019, the Company received a clarificatory letter from EBIOSS in relation to the terms of the Agreement and the Parties' intentions regarding the potential use of EQTEC's technology.  EBIOSS has confirmed that, in respect of waste treatment and disposal projects, the Parties will use EQTEC's gasification technology, subject to successful completion of Urbaser technical due diligence and all parties, including EQTEC, agreeing terms, including the commercial basis of any contract.  EQTEC confirms that it will conduct due diligence on any potential opportunities that are presented to it by the Parties pursuant to the Agreement.

Ian Price, CEO of EQTEC plc, commented: "We are pleased to note the Agreement between EBIOSS and Urbaser, and we are encouraged by this statement of intent by the Parties to use our technology and the further validation that this would bring to the Group.

Urbaser is a leading integrated waste and resource management company, providing solutions to local authorities, businesses and the general public with strong project experience in the waste to energy space.  We look forward to evaluating each opportunity as and when it arises in order to assess its ability to increase shareholder value."

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

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	[phone]
Tim Metcalfe/Miles Nolan/Zach Cohen

Notes to Editors

About EQTEC

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

About Urbaser

Urbaser S.A.U., is based in Spain and has extensive experience in the provision of environmental services both nationally and internationally.  They are the third largest environmental services provider in Europe, providing high profile waste treatment, waste and recycling collection, street cleansing and grounds maintenance services in cities including Barcelona, Madrid, Paris, Porto and London.  Urbaser also operate comparable operations across Asia, North Africa and South America.

 

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