Business
Corporate and Operational Update
Corporate and Operational Update.
About this update from Forgent Plc
[{"type":"text","content":"\n \nRNS Number : 5484B EQTEC PLC 31 January 2020 \n\n31 January 2020\n \nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \nCorporate and Operational Update \n \nEQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, is pleased to announce the following update on its corporate and operational activities.\n \nSubsequent to the change in Group leadership with the appointment of David Palumbo as the Company's Chief Executive Officer, announced on 16 September 2019, the Company has continued its focus on three key verticals and further developed its strategy to execute in these verticals, being:\n \nRecovery of clean energy from biomass \n· Focused on biomass energy with projects in the 2.5 to 5MW size range, particularly in the USA and Europe.\n \nElimination of waste streams in agri-food and industrial sectors\n· Focused on energy recovery, typically in the 2 to 10MW project size range, particularly in the Mediterranean area.\n \nElimination of Municipal Solid Waste (\"MSW\") and Refuse Derived Fuel (\"RDF\") waste streams\n· Focused on projects typically in the 5 to 25MW range, particularly in the UK and Ireland.\n \nThis emphasis on these key verticals is the result of the Company, under its change of leadership, further refining its business model to focus on becoming a progressive technology partner. The Company is creating, what the Directors believe to be, a unique ecosystem in its industry, whereby EQTEC is establishing a close group of strategic partners to work with, which spans operators and developers, through to contractors and capital providers.\n \nDuring Q4 2019 and in Q1 2020 to date, the Directors believe the Group has made significant progress with regard to its refined strategy, as highlighted below:\n \nQ4 2019 Highlights\n \n· Completed c.€155,000 Transports Metropolitans de Barcelona (\"TMB\") maintenance contract and increased proactive business development activities in this area, leading to a developing pipeline of potential new business for the Group, including with regard to further upgrade and maintenance contracts in Spain.\n· Agreed an extension for the Billingham Energy ...