23rd Oct 2019 10:46
(Alliance News) - EQTEC PLC said Wednesday it has agreed to extend the exclusivity period of a memorandum of understanding for the power plant in Haverton Hill, Billingham, UK until July next year.
The waste-to-gas converter signed the MOU with Cobra Instalaciones Y Servicios SA and Scott Bros Enterprises Ltd. EQTEC said it held a number of meetings with Cobra and Scott Bros to review the progress of the Haverton Hill project.
"It was deemed by the parties that progress has been satisfactory and, as a result, the parties agreed an extension in order to further progress discussions with potential funding partners," EQTEC said.
Chief Executive David Palumbo added: "We are pleased that Cobra and Scott Bros are reassured by the progress achieved by our operational team to date on this ambitious energy from waste infrastructure project.
"We look forward to progressing discussions with potential funders interested to own energy infrastructure in a sector which is gaining significant traction and one which could have such an important positive environmental impact."
Shares in EQTEC were 3.7% lower in London on Wednesday at 0.13 pence each.
By Paul McGowan; [email protected]
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