EQTEC announces acquisition and commissioning of waste-to-energy plant in Italy

LONDON, UK: EQTEC plc (LON: EQT) announced the acquisition and planned re-commissioning of a 1MWe waste-to-energy plant in Italy.

Originally commissioned in 2015, the plant is built around EQTEC’s proprietary and patented Advanced Gasification Technology.

EQTEC has acquired, and will lead a consortium to repower, own and operate, the biomass-to-energy plant in Castiglione d’Orcia, Tuscany, Italy. Once operational, it is intended that the plant will transform straw and forestry wood waste from local farms and forests into green electricity and heat for use in the local community.

The Tuscany plant is the first of two such facilities with EQTEC’s technology that have been decommissioned by previous owner-operators in recent years and that the Company has targeted for repowering to full operation.

The Company intends for the Plant to become the first of its ‘Market Development Centres (MDCs), which will showcase its technology in a fully operational, commercial setting. The Company will make further announcements about the planned acquisition of a facility in Croatia in due course.

David Palumbo, CEO of EQTEC, commented: “I am very pleased that EQTEC will lead the effort with our partners to re-commission and revive this biomass-to-energy plant in Italy, providing power and heat to the area and demonstrating sustainable, commercial success with EQTEC advanced gasification. Additionally, I am delighted to see us secure this with a well-balanced consortium of experienced partners and this is an approach we hope can be achieved for other projects in our pipeline.

“Finally, I am pleased about the local nature of this plant and our future role there as co-owner/operators. EQTEC is committed to ensuring our projects have a positive local impact, from sourcing, treating and converting local waste through to the generation of clean energy in the local area, all powered by EQTEC technology. We will continue to support local businesses, employing local people and sustainably delivering value for local communities in all the markets we operate.”

EQTEC PLC (LON: EQT)

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14 May, 5:06 pm GMT+1 · Disclaimer