Business
Drawdown and Funding Update
EQTEC plc has secured an extension for its £0.7 million convertible loan to 28 February 2026 and has drawn down an additional £75,000 under the facility to address short-term working capital needs. These actions, combined with ongoing discussions with lenders and a significant shareholder regarding future funding, are expected to extend the company's cash runway until the end of February 2026. While discussions are constructive, there is no certainty that a funding package will be concluded. Disclaimer*
About this update from Forgent Plc
[{"type":"text","content":"\n\n23 December 2025\nEQTEC plc\n(\"EQTEC\" or the \"Company\")\n \nDrawdown and Funding Update\n \nEQTEC plc (AIM: EQT), a provider of syngas technology and engineering services for the clean conversion of waste into sustainable energy and biofuels, announces that it has agreed with its lenders to extend the maturity date of its convertible loan and has drawn down an additional £75,000 under the convertible loan facility (\"CLF\") announced on 24 October 2025.\nAs announced on 24 November 2025, the Company is engaged in ongoing discussions with its existing lenders and its significant shareholder, Rebel Ion Limited, regarding its current debt position and potential future funding solutions. While these discussions continue, the Company has agreed with the existing lenders a further extension of the maturity date of the £0.7 million convertible loan to 28 February 2026. The Company cautions that while discussions with all lenders and stakeholders remain constructive, there can be no certainty that a funding package will ultimately be concluded.\nAs previously announced on 24 November 2025, the Company requires additional funding to meet its short-term working capital obligations. Accordingly, the Company has drawn down a further £75,000 gross under the CLF while it continues to explore strategic funding options. The parties have agreed that the draw down fee shall be retained from the gross funds drawn. The Company's actions to conserve cash whilst discussions continue, together with the drawdown from the CLF, has further extended the Company's cash runway and it is now forecast to last, with the continued support of creditors, until the end of February 2026, in line with the extension of the convertible loan. The Company will update shareholders as appropriate.\n \n \nThis announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.\n \n \nENQUIRIES \n \n\n\n\n\nEQTEC plc \nJames Parsons\n \n\n\n+44 20 3883 7009 \n\n\n\n\nStrand Hanson - Nomad & Financial Adviser \nJames Harris / Richard Jo...