Business
Strategic Collaboration Agreement with Wood
Strategic Collaboration Agreement with Wood.
About this update from Forgent Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6369T\n EQTEC PLC\n 26 November 2021\n \n \n \n \n \n \n \n 26 November 2021\n \n \n EQTEC plc\n \n \n (\"EQTEC\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Strategic Collaboration Agreement with Wood for Synthetic Natural Gas and Hydrogen Market Solutions\n \n \n \n \n \n EQTEC plc (AIM: EQT), \n a world-leading gasification solutions company building a cleaner waste-to-energy industry\n , \n is pleased to announce that it \n has signed a Strategic Collaboration Agreement (the \"Agreement\") with Wood, a leading consulting and engineering company across energy and the built environment (\"Wood\").\n \n \n \n \n \n Under the terms of the Agreement, the Company and Wood (the \"Parties\") will jointly target and pursue market opportunities for collaborative development and deployment of clean, waste-to-synthetic natural gas (\"SNG\") and waste-to-hydrogen solutions and delivery of related projects. \n \n \n \n \n \n The Agreement is aimed at expanding availability and application of EQTEC's Advanced Gasification Technology and synthesis gas (\"syngas\") production into new markets, combining it with Wood's established VESTA methanation technology, engineering capabilities and capacity for scale. The Parties anticipate joint development of new capabilities and solutions to lead innovations in the emerging market for renewable SNG and hydrogen and support the drive to net zero.\n \n \n \n \n \n Highlights\n \n \n \n \n \n \n · \n \n \n \n \n The Parties have signed a Strategic Collaboration Agreement through which they intend to pursue opportunities for further rollout and successful application of EQTEC Advanced Gasification Technology in new markets, complemented by Wood's technologies, leading engineering capabilities, market access and global scale;\n \n \n \n \n \n \n · \n \n \n \n \n The Company and Wood will collaborate to:\n \n \n o \n Assess and target specific market opportunities for deployment of new commercial solutions for SNG and hydrogen production from syngas, based on EQTEC's proven and proprietary Advanced Gasification Technology;\n \n \n o \n Develop and deploy waste-to-SNG and hydrogen solutions, uniting the Company's leading-edge gasification capabilities and Wood's proprietary VESTA methanation and other an...