Business
EQTEC Business Partnership Funding Update
EQTEC Business Partnership Funding Update.
About this update from Atlas Metals Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1093E\n MetalNRG PLC\n 09 March 2022\n \n \n \n \n 9 March 2022\n \n \n \n \n \n METALNRG plc\n \n \n (\"MetalNRG\" or the \"Company\")\n \n \n EXCLUSIVE AGREEMENT TO SOURCE DEBT FOR WASTE TO ENERGY PROJECTS\n \n MetalNRG plc, (LON:MNRG), the natural resources and energy investment company, is pleased to announce that it has agreed an exclusive remit for AdviCorp PLC to source a £20 million to £40 million debt facility to be invested on a project by project basis in identified, qualified and \"shovel ready\" waste to energy projects in Europe.\n Following MetalNRG and EQTEC plc (AIM: EQT) entering into a Business Development Partnership (as previously announced on 22 March 2021) extensive work has been completed by the partnership to secure exclusivity and develop a pre-qualified secured pipeline of waste-to-energy and waste-to-fuels projects. These projects are expected to deliver revenues within 6 to 18 months of funding. The first project is already under construction in Italy.\n The focus of our pipeline development has been on identifying and securing a number of mature projects that can deliver rapid revenue generation and meet the requirements for debt investment. The partnership has developed a 2-tier pipeline of projects along the following qualifications:\n Tier 1:\n Projects that have successfully achieved financial close, to be revenue generating by the end of 2022, with a typical investment of between £2 million to £10 million, delivering an unleveraged IRR of between 12% to 16% with all the requirements for debt financing in place.\n Tier 2:\n \n Projects ready to achieve financial close and construction to start in Q2 to Q4 2022, typical investment between £5 million and £10 million per project and leading to revenue within a maximum of 18 months from funding.\n AdviCorp PLC, established in London in 1997 with offices in both London and Rome, is an independent investment banking firm operating in the areas of Corporate Finance, Mergers and Acquisitions. AdviCorp works with dynamic companies looking to grow their businesses. The AdvCorp team has decades of international experience in multiple financial products and markets, earned in prior executive roles in international investment banks and corporations.\n AdviCorp PLC is authorised and regulated by the Financial Conduct...