Business
Collaboration Framework Agreement
Collaboration Framework Agreement.
About this update from Forgent Plc
[{"type":"text","content":"\n\n27 November 2023\n \nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \nCollaboration Framework Agreement with Tresca Energía\n \nEQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, is pleased to announce that it has signed a Collaboration Framework Agreement (the \"Agreement\") with Tresca Energía S.A. (\"Tresca\"), a Spain-based engineering group, infrastructure developer and project manager with a particular interest in applying EQTEC technology to advanced biofuels solutions. The Agreement specifically identifies a first project for the collaboration, which would be a facility in Castilla y León, Spain (the \" Project\") that would convert approximately 50,000 tonnes per year of biomass into renewable natural gas (\"RNG\"). The Project, which currently is progressing its feasibility phase, has already secured interest from a main Spanish bank to provide the funding together with offtake terms from a large gas grid operator.\n \nThrough the Agreement, the Company and Tresca (together, the \"Parties\") will collaborate on joint development and qualification of pipeline opportunities through integrated teams that combine EQTEC's technology and engineering capabilities with Tresca's expertise developing renewable energy projects and its access to funders, infrastructure investors and offtakers. The Parties have a particular interest at present in pursuing projects focused on RNG or methanol generation from synthesis gas (\"syngas\") produced through EQTEC's patented and proprietary technology.\n \nTresca is a development, project management and engineering company with 20 years' experience managing infrastructure projects across more than 30 countries in Europe, South America, Africa, the Middle East and Asia. It is active in energy, hydrogen technology, chemistry and several other complementary sectors. The Company views Tresca as a strong, go-to-market partner for Spain and other geographies where there is a growing need for professional development and project management in the burgeoning sector for syngas-based renewable energy.\n \nDavid Palumbo, CEO of EQTEC, commented: \n \n\"We have already noted that our go-to-market focus ...