15 November 2024
EQTEC plc
("EQTEC",
the "Company" or the "Group")
Disposal of MetalNRG
Shares
EQTEC plc (AIM:EQT),
a leading licensor and innovator of syngas
technology for clean conversion of the world's waste into
sustainable energy and biofuels, to power the circular economy,
announces the sale of its entire holding, being 60,606,061 shares,
in MetalNRG plc ("MNRG") (LON:MNRG), the natural resources company,
for total consideration of c. £0.2 million.
EQTEC no longer considers its
holding in MNRG to be strategic, following MNRG's decision to
withdraw from new energy infrastructure development to refocus on
core mining opportunities. The investment was previously written
off in EQTEC's audited results for the year ended 31 December
2023.
This disposal reflects EQTEC's
commitment to prioritising assets and partnerships that directly
support its mission to advance sustainable energy and fuel
solutions. The proceeds from the sale will be reinvested into
EQTEC's core business activities, furthering its efforts to deliver
clean, renewable energy and alternative fuels from
waste.
This announcement contains inside
information as defined in Article 7 of the EU Market Abuse
Regulation No 596/2014, as it forms part of United Kingdom domestic law by
virtue of the European Union (Withdrawal) Act 2018, as amended, and
has been announced in accordance with the Company's obligations
under Article 17 of that Regulation.
ENQUIRIES
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EQTEC plc
David Palumbo
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+44 20 3883 7009
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|
Strand Hanson - Nomad &
Financial Adviser
James Harris / Richard
Johnson
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+44 20 7409 3494
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Shard Capital Partners LLP -
Broker
Damon Heath / Isabella
Pierre
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+44 20 7186 9927
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Fortified Securities -
Broker
Guy Wheatley
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+44 20 3411 7773
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Global Investment Strategy UK Ltd -
Broker
Samantha Esqulant
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+44 20 7048 9045
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About EQTEC
EQTEC is one of only a few circular
economy technology providers able to address the dual challenges of
growing quantities of global waste and the growing demand for
energy and biofuels. EQTEC cleanly converts waste into a range of
valuable commodities that support new energy and industrial
infrastructure. With one of the world's most experienced
thermochemical conversion technology and engineering teams, EQTEC
provides bespoke waste management and new energy solutions through
best-in-class innovation, infrastructure engineering and
value-added services for developers, owner-operators and
industrials.
EQTEC's end-to-end process solutions
are in demand from around the world with highly efficient equipment
that is modular and scalable from three tonnes of waste per hour.
Its versatile solutions process dozens of varieties of feedstock,
including plastics, mixed municipal waste, industrial waste and
other non-recyclables, all with no hazardous or toxic emissions,
producing a wide range of valuable commodities including synthesis
gas ("syngas") electricity,
heat and steam, synthetic natural gas, hydrogen, liquid fuels or
other chemicals.
The Company is quoted on the London
Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT)
and the London Stock Exchange has awarded EQTEC the Green Economy
Mark, which recognises listed companies with 50% or more of
revenues from environmental/green solutions.
Further information on the Company
can be found at www.eqtec.com.
