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Kalkine Media ASX Share Market News & Research

EQTEC Plc informs about agreement to acquire Billingham Project

December 20, 2020 12:31 AM GMT | By Team Kalkine Media
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EQTEC Plc (LON:EQT) Haverton WTV Limited, a wholly owned subsidiary of the company and Scott Bros. Enterprises Limited have signed a Call Option and Exclusivity Option Agreement.

  • The agreement is for the acquisition of the land on which the planned power plant at Haverton Hill, Billingham, UK and around 25 megawatt electrical (MWe) Billingham waste gasification will be constructed.
  • EQTEC Plc is a world leading gasification technology solutions company, and this announcement of the acquisition follows the announcements of 8 May 2019, 23 October 2019, 23 June 2020, 18 September 2020 and the recent 23 November 2020, regarding the Project.
  • The key terms of the call option include Scott Bros granting Haverton WTV Limited an exclusive call option to require Scott Bros to enter into a binding conditional LPA (Land Purchase Agreement).
  • The option for LPA can be exercised any time up to 28 February 2021 and contains the key commercial terms of the LPA together with an all reasonable efforts good faith obligation.

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