Business
Technical Services Agreement for Plant in USA
Technical Services Agreement for Plant in USA.
About this update from Forgent Plc
[{"type":"text","content":"\n\n29 November 2023\n \nEQTEC plc\n(\"EQTEC\", the \"Company\" or the \"Group\")\n \nNew contract for engineering toward waste wood-to-electricity plant in Hawaii, USA\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 it has signed a technical services agreement for engineering services and equipment supply (the \"Agreement\") for a plant that would convert approximately 15,000 tonnes per year of wood waste into synthesis gas (\"syngas\"), which in turn would fuel a gas-fired boiler to generate steam for use in a steam turbine with an alternator to generate up to 2 MW of electrical power to power an organic fertilizer production facility and demolition waste sorting and recycling operation.\n \nThe Agreement is with Simonpietri Enterprises LLC (\"SEL\"), a waste-to-energy development company based in Hawaii, USA. SEL provides innovative technical and business solutions in waste management, renewable fuels and energy production, transportation, and agriculture in Hawaii, the continental USA, and island locations in the Pacific. This engineering contract is for the gasification system for SEL's Sustainable Materials Recycling and Fertilizer Facility (the \"SMRFF\") under development in Kapolei, Hawaii. At the SMRFF, the planned EQTEC gasification system will convert construction and demolition debris, landscaping waste, and invasive plant biomass from landscape restoration and wildfire prevention projects, into biochar and electricity for organic fertilizer production. SEL has a particular interest in gasification as a clean energy alternative to landfilling, burning, or incineration for solving waste problems and creating recycled-material products, and has recognised EQTEC's leading capabilities with gasification technology.\n \nThe Company expects to commence basic engineering work at the end of 2023 and to invoice $180,000 (c. €165,000) for this work, which the Company expects to complete in early 2024. The Company and SEL have also agreed a quotation for front-end engineering design (\"FEED\") that would follow the basic engineering and for which the Company expects to invoice a further €300,000. Additionally, the Company h...