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EQTEC PLC (LSE:EQT), a company focused on distributed, decarbonized energy solutions through waste-to-value technology, has announced the upcoming transition of its Group Chief Operating Officer (COO). Jeffrey Vander Linden, the current COO, will resign and step down from the Board, with the transition expected to be completed by the end of September 2024. The company is in advanced discussions with a candidate for the role based in Spain, and further details will be disclosed in due course.
Strategic Alignment
This transition aligns with EQTEC's strategic shift towards becoming a technology innovator and licensor. Announced in September 2021, this strategy involves relocating operational management and decision-making to Barcelona, Spain, where the company's engineering team is based. The new Spain-based COO will work alongside Dr. Yoel S. Alemán Méndez, the Group Chief Technical Officer, who will focus on innovation and technological development.
Recent Company Developments
The transition follows the release of EQTEC’s 2023 annual results on 28 June 2024, which highlighted the company's move from a capital-intensive development model to a capital-light technology licensor. This change reflects the company's strategic realignment towards a more streamlined and focused business model.
Statements from Management
David Palumbo, CEO of EQTEC, acknowledged the contributions of Jeffrey Vander Linden, expressing gratitude for his efforts and dedication over the past four years. Palumbo noted that the relocation of the COO role to Spain is part of a broader effort to centralize operations and decision-making, which will support EQTEC’s growth and strategic objectives.
Jeffrey Vander Linden also commented on his tenure, highlighting the progress made in establishing a clear strategy and building a solid partner ecosystem. Vander Linden expressed confidence in EQTEC’s future, given its innovative technology and strong client base, and indicated a willingness to remain engaged with the company during its continued development.
About EQTEC
EQTEC specializes in thermochemical conversion technology and engineering, providing waste management and new energy solutions. The company’s technology supports the transition to cleaner energy by processing various types of waste to produce high-quality synthesis gas (syngas). This gas can be used for electricity generation, renewable natural gas production, biofuels, and hydrogen. EQTEC operates globally, offering modular and scalable solutions that address the challenge of replacing fossil fuels.
