EQTEC Poised to Become Dedicated Waste-to-Value Technology Provider

September 16, 2024 05:36 PM AEST | By Team Kalkine Media

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EQTEC Poised to Become Dedicated Waste-to-Value Technology Provider — Image source: Shutterstock

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EQTEC PLC a global leader in clean technology, specializes in sustainable waste-to-value solutions through its proprietary Advanced Gasification Technology. This patented technology effectively and sustainably converts a broad spectrum of waste products into syngas, which can be utilized to generate various energy sources at a commercial scale.

On 30 September, EQTEC PLC (LSE:EQT) will welcome Murli Bhamidipati as the new Operations Director at EQTEC Iberia, the company's subsidiary in Spain. Bhamidipati, who will also assume the role of Managing Director, will be based in Barcelona. In this capacity, he will spearhead business development and oversee the engineering team. This appointment follows the company's strategic decision to centralize its lead operations role in Spain, aligning with its focus on becoming a pure-play technology innovator and licensor.

In August 2024, EQTEC PLC reported promising outcomes from recent steam-oxygen gasification tests conducted in partnership with CompactGTL Limited. These tests demonstrated the capability of EQTEC’s technology to convert mixed waste feedstocks into high-quality synthesis gas (syngas) suitable for biofuel applications. The technology has shown potential for transforming complex materials such as plastics into renewable natural gas (RNG) and sustainable aviation fuel (SAF).

Additionally, EQTEC PLC recent financial activities have strengthened its position. The company successfully raised capital through a share placement, supplemented by a cash inflow from a settlement deal. This was further supported by a retail offering that could generate additional funds. EQTEC's CEO, David Palumbo, highlighted the company's solid financial footing and ongoing strategic adjustments. These adjustments include the restructuring of the secured debt facility into a refinance facility, aimed at improving the company's balance sheet and share performance.

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