Business
Strategic Alliance Agreement with COBRA
Strategic Alliance Agreement with COBRA.
About this update from Forgent Plc
[{"type":"text","content":"\n \nRNS Number : 9861F EQTEC PLC 27 February 2018 \n\n27 February 2018\n \nEQTEC plc\n \n(\"EQTEC\" or the \"Company\")\n \nEQTEC signs Strategic Alliance Agreement with COBRA\n \nEQTEC plc (AIM: EQT), the technology solution company for waste gasification to energy projects, is pleased to announce that it has signed a Strategic Alliance Agreement (\"the Agreement\") with Cobra Instalaciones Y Servicios SA (\"COBRA\"), a worldwide leader in developing, building and operating infrastructure projects, to identify and collaborate on waste-to-energy projects that will utilise the Company's proprietary EQTEC Gasifier Technology (\"EGT\"). EGT has been developed over 20 years and has over 70,000 operating hours on commercial projects.\n \nThe signing of the Agreement follows extensive technical due diligence carried out on EGT over the last few months which confirmed EGT's ability to outperform comparative technologies. The confidence in the performance, costs and efficiency projections has prompted both companies to commit resources to jointly construct and operate large scale commercial waste-to-energy projects (\"the Projects\"). \n \nUnder the terms of the Agreement, COBRA will be the EPC Contractor for the engineering, procurement and construction (\"EPC\") for the whole power plant of the Projects and will exclusively use EGT for the gasification and gas cleaning process.\n \nEQTEC and COBRA will review each new opportunity identified on a project-by-project basis to assess the best use of EGT for the project, which could include electricity generation, heat supply and/or Combined Cooling, Heat and Power (\"CCHP\"). EQTEC will provide the basic and detailed engineering and technical design for the EGT gasification package, performance warranties on generated gas, together with the equipment agreed, dependent on the particular project. If required, COBRA will also seek to attract external financing resources to develop and implement the Projects.\n \nEQTEC and COBRA are currently identifying opportunities in UK and the Company will update shareholders in due course.\n \nLuis Sanchez, CEO of EQTEC plc, commented: \"COBRA has an extensive track record of successfully delivering projects in the Americas, Europe, Africa, Asia and Oceania and we are pleased that they have ...