LONDON: MetalNRG plc has entered into a Framework Partnership Agreement (FPA) to develop sustainable Green Energy projects in partnership with EQTEC plc.
MetalNRG has set up a Special Purpose Vehicle, MetalNRG Eco Ltd, to develop biomass, waste to energy and sustainable green energy projects in the UK and Europe.
EQTEC and MetalNRG will work in partnership on investments, with EQTEC advising technically, financially, and operationally, becoming MetalNRG’s preferred technology partner for Green Energy Projects.
The focus will be on “shovel ready” projects, that meet the Company’s existing investment criteria, are sited in the UK and Europe, will have a CAPEX investment of between £5 million to £15 million, can be financed by a combination of debt and equity and will deliver revenues within 18 months of transaction close and have a minimum unlevered IRR of 11%
MetalNRG will be part of the transition to renewable green energy and seeks to invest, develop, and deliver sustainable green energy solutions that help reduce CO2 emissions and contribute to the achievement of 2050 net zero goals.
Working alongside EQTEC the Company will have an ideal technical partner with tremendous technical knowhow that will enable MetalNRG to accelerate its route to market and revenues.
MetalNRG has set up a Special Purpose Vehicle, MetalNRG Eco Ltd, to focus exclusively on the development of green energy projects.
Over the next few months, we will advance a pipeline of viable projects that meet the Company’s existing investment criteria, and we will progress a number of investments that can deliver revenues via the application of green energy solutions with specific focus on biomass projects and waste to energy projects in the UK and Europe.
To add substance to the intentions of the Business Development Partnership, EQTEC and MetalNRG have agreed that EQTEC will acquire £500,000 of MetalNRG shares when MetalNRG finalises its prospectus. EQTEC will acquire the MetalNRG shares via the allocation of EQTEC shares to MetalNRG.
EQTEC plc is a world leading gasification technology partner with proven proprietary patented technology for cost effective waste-to-value applications.