24th Sep 2021 13:57
Eqtec PLC - Cork, Ireland-based gasification company focused on turning waste into sustainable energy sources - Forms joint venture with EwerGy GmbH, a German engineering and construction company operating in Greece, called Eqtec Synergy Projects Ltd.
Joint venture signs agreement for proposed acquisition of 1 megawatt equivalent waste-to-energy gasification project in Livadia, Greece and exclusivity on second 1 MWe project nearby. EwerGy will enhance local relationships and the project pipeline. Eqtec says it owns the majority of the joint venture and that it will be funded by both partners, without specifying the size of its stake.
Earlier this month, Eqtec completed a 1.2 megawatt waste-to-energy gasification plant in Karlovac, Croatia, a joint venture between the company and its Croatian project development partner Sense ESCO; this acquisition was funded by Eqtec via a EUR1.2 million loan intended to be converted into privately placed bonds.
Current stock price: 1.21 pence, up 9.9% on Friday afternoon
Year-to-date change: down 53%
By Josie O'Brien; [email protected]
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