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Oil Capital
Market: AIM
52-week High/Low: 1.84p / 0.23p
Sector: Energy
Market Cap: 7.54M

Eqtec PLC has a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity. Its technology has accumulated hundreds of thousands of running hours in different power plants.

The World Bioenergy Association (“WBA”) states that waste management is a fast growing environmental business in the world today. Its...


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Big picture - Why invest in EQTEC PLC

EQTEC PLC Snapshot


EQTEC’s strategy is to be the preferred gasification technology supplier and plant operator to developers and owners of waste to energy projects with the aim of improving overall economics in order to realise value and to generate sustainable incremental wealth for EQTEC and its shareholders.

While our focus is on opportunities in the UK market we engage with customers globally.

We will also build, own and operate waste to energy facilities as opportunities arise.

We have entered into a number of key Strategic Alliances which allow us to be the one stop shop for gasification technology, engineering design, EPC, O&M and project funding.

The Board is focused on growing the business organically and where synergistic opportunities arise through acquisition.

Business Model

EQTEC’s multi-revenue stream model is founded upon the roll-out of Energy from Waste power generation sites, utilising EQTEC’s established and reliable proprietary gasification technology to eliminate the waste and recover the energy.

Revenues are generated from some or all of the following:

• Sales of equipment and services directly to plant owners.
• Sale of services and equipment to plant owners within an EPC contractor offering.
• Securing regular annual income from Operating & Maintenance (O&M) Services to plant owners.
• Securing fee income from technology licensing in certain markets.
• Securing regular income streams from acquiring ownership positions in appropriate waste to energy plants where gasification plays a key role.

Where opportunities to build, own and operate waste to energy facilities arise revenue streams will also include:

• Project revenues including gate fees received for accepting waste, and income from the sale of electricity and heat.
• Equity dividends (generally post amortization of project debt).
• SPV management services.
• Financing arrangement fees and margin/ royalty.

The Business Model is supported by the fact that globally the amount of waste generated is expected to double between 2013 and 20251 whilst the world’s need for electricity will increase demand by over 70% by 20402. This will help drive huge growth in the Waste to Energy market with market size expected to reach $35.5bn by 20243.  EQTEC brings a solution combining both waste elimination and energy recovery.

1 World Bank Group: What a Waste – A Global Review of Solid Waste Management, March 2012
2 International Energy Agency: World energy outlook 2015 – factsheet – global energy trends to 2040, 2015
3 Global Market Insights Inc, Waste to Energy Market Size – Global WTE Industry Share Report 2024, May 2016

The Movialsa biomass gasification plant, which opened in 2011, is located just under two hours south of Madrid in the Ciudad Real province of Spain. Click here to read further.

Karlovo & Heat Biomass EOOD
Karlovo & Heat Biomass EOOD is an Integrated Biomass Gasification Power Plant (“IBGPP”), located in Stroevo, Bulgaria. Click here to read further.

Syngas Italy
Syngas Italy is an Integrated Biomass Gasification Power Plant (“IBGPP”), located in the Italian region of Tuscany.Click here to read further.

Belisce I
Belisce I Project is an Integrated Biomass Gasification Power Plant (“IBGPP”), located in Belisce, Croatia. Click here to read further.

The Polygen project is a waste gasification project located in Łaziska Górne, Poland. Click here to read further.

Ian Price, Chief Executive Officer

Ian Price is a science graduate from the University of Manchester and holds an MBA from the University of Bath. He comes from a background in waste and renewables and the development of low carbon energy assets using refuse derived fuels where he has a successful track record of managing and executing transactions. He has had a career spanning over 20 years, mainly in the waste and renewables sectors. His career has included being Director of Commercial Services for Covanta Energy and a Director of KSP Renewables Limited a company which specialises in the development of merchant energy from waste (EfW) plants in the UK focusing on using refuse derived fuel (RDF) from commercial and industrial waste sources. He also held management and operations roles at Biffa, FCC Environment, Veolia and Sita (Suez). He currently serves as a Non-Executive Director of West Wind Ventures Limited which is also involved in waste and renewables in an advisory capacity. He is a member of the Chartered Management Institute.

Gerry Madden, Finance Director

Gerry Madden joined EQTEC plc in  May 2007 as Finance Director, and was Chief Executive from 2011 to 2017. He previously founded and operated a corporate finance practice between 1998 and 2007, advising UK and Irish companies on corporate finance activities and business strategy. During this period he also acted as a Non-Executive director for companies in the technology, healthcare, retail and renewable energy sectors. He originally worked for 16 years with international accountants KPMG and was auditor and adviser to listed companies, multinationals and private companies operating in Ireland and internationally. He is a Fellow of the Institute of Chartered Accountants in Ireland, a graduate of University College Cork and a Member of the Institute of Directors.

Luis Sanchez, Executive Director

Luis qualified as a power engineer at the Polytechnic University of Catalonia (Barcelona-Spain). Luis began his professional career at Sulzer Infra (now ENGIE) as HVAC (“Heating, Ventilation and Air Conditioning”) and CHP Project developer. He has had several executive and management positions in the energy business until he founded Eqtec Iberia in 1997, starting a thermo-gasification R&D programme which is the origin of the unique EQTEC Gasifier Technology, patented by Eqtec Iberia. In 2012 he was one of the founders of EBIOSS and became its CEO. EBIOSS is a holding company developing biomass and waste power plants, listed on the Spanish Stock Exchange since July 2013.

Ian Pearson, Non-Executive Chairman

Ian was for five years the chairman of AIM listed OVCT2, a company which invested in a variety of renewal energy companies and was successfully merged into Apollo VCT plc last year. He is currently a Non-Executive Director of Thames Water Utilities Limited, the UK’s biggest water company with 15 million customers, and is Chairman of CODE Investing Ltd. He is also a senior adviser to BAI Communications plc and has previously been a member of the UK Advisory Board of the accountants, PwC. During a distinguished Ministerial career from 2001-10 Ian Pearson held a number of positions, including Minister for Trade & Foreign Affairs, Minister of State for Climate Change and the Environment, Minister for Science, and Economic Secretary to the Treasury. He graduated from Balliol College, Oxford and has a Master’s degree and a Doctorate in Industrial and Business Studies from the University of Warwick.

Óscar Leiva, Non-Executive Director

Óscar Leiva is currently the President and founder of EBIOSS, a technology group operating in the waste sector, and listed on the Spanish Stock Exchange. The group has during the last ten years invested in new technologies and companies that allow municipalities to solve their waste problem using smart waste collection and waste elimination technologies provided by EBIOSS. He studied a Bachelor’s degree in Management and Master’s degree in Financial Markets at the University of Barcelona. Oscar has held executive positions in private banking in different financial entities such as Credit Suisse Group and Banco Finantia. His international experience also comes from his role as Vice President of the Marina D’Or Group, a real estate developer and property company.

Tom Quigley, Non-Executive Director

Tom Quigley has had an executive career spanning over 25 years, mainly at board level, as Managing Director, CFO and CIO. This included being a Managing Director of Close Brothers Corporate Finance, a Managing Director and Head of the Retail, Hospitality and Leisure sector investment banking at ING Barings, London, and a Director of Terra Firma Capital Partners. Tom originally qualified as a Chartered Accountant at Price Waterhouse in London and has amassed considerable financial and management experience across multiple sectors. Through his executive and non-executive positions, Tom has worked in real estate, financial services, healthcare and banking, and across a number of jurisdictions.

Contact details
EQTEC plc – Head Office
Building 1000, City Gate, Mahon, Cork, Ireland
Tel: (+353) (0)21 2409056
E-mail: [email protected]


VSA Capital
Contact: Andrew Raca
New Liverpool House, 15-17 Eldon Street, London, EC2M 7LD
Tel: (+44) (0)20 3005 5000
E-mail: [email protected]

For media enquiries:

Luther Pendragon Ltd
48 Gracechurch Street, London, EC3V 0EJ
Tel: (+44) (0)20 7618 9100
E-mail: [email protected]

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