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Contract signed with Idex for FEED at France MDC
Contract signed with Idex for FEED at France MDC.
About this update from Forgent Plc
[{"type":"text","content":"\n\n17 August 2023\n \nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \n Contract signed with Idex for Front End Engineering Design at France MDC\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, through its subsidiary EQTEC Iberia SLU, it has signed with French infrastructure owner and utility company Idex Services (\"Idex\") a contract for the Front End Engineering Design (the \"FEED\") (the \"FEED Contract\" or \"Agreement\") at the Company's France Market Development Centre (\"France MDC\").\n \nUnder the FEED Contract, the Company has agreed its scope of services and an execution plan to support all design work up to financial close. The work outlined in the FEED Contract is expected to start immediately and be completed by December 2023. The Company expects to receive c. €440,000 for the full scope of FEED work.\n \nThe FEED will provide owner-operator Idex with all technical information essential to achievement of Final Investment Decision (\"FID\") toward retrofit and construction at the France MDC. The Company and Idex are targeting FID in Q1 2024.\n \nAssuming FID based on the current configuration, EQTEC will be the core technology supplier for France MDC, receiving fees for engineering services, equipment, commissioning and licensing over the period Q4 2023 - Q1 2025, estimated to total c. €15 million.\n \nHighlights\n \nThe scope of the FEED includes:\n \n· Validation of the end-to-end process defined during the preliminary technical assessment in 2022;\n· Detailed analysis of the issues identified with the predecessor plant and confirmation of EQTEC proprietary technology solutions for implementation during retrofit and construction;\n· Confirmation of the plant layout within previously defined site parameters;\n· Request for offers and clarifications from suppliers for ancillary equipment to be replaced or renovated;\n· Supply of all plans and documents essential to the FEED;\n· Supply of technical specifications for equipment to be ordered and supplied;\n· Provision of a ...