What the company does
The EQTEC Gasifier Technology, or EGT, turns household waste into electrical and thermal energy. So, the business model is simple: source waste-to-energy projects and sell the developers an EGT along with and operation and maintenance contract. In a recent update it fleshed out its approach. It said it was targeting power generation systems fed by municipal waste, waste olive oil and biomass. The aim ultimately is to become a ‘one-stop-shop’ for the technology, design, the build and the operation and management of these projects.
In the municipal waste and refuse business EQTEQ is partnered with China Energy Engineering Corporation and COBRA Instalaciones Y Servicios. At the Billingham project the company and COBRA are partnered with Scott Bros Enterprises for a proposed 25 megawatt power plant. Once operational, Billingham will process some 200,000 metric tonnes of refuse derived fuel - made from municipal waste – per year. The project is expected to be worth between £150mln and £180mln. EQTEC and COBRA are continuing efforts to deliver other similar opportunities in the UK.
Oil pomace waste
The company is in talks with a ‘major Spanish business group’ over a possible opportunity that will aim to elimination of olive pomace waste in the Mediterranean area. EQTEC has history in this area, having deployed its technology in 2011. Via a new partnership, the company believes it will be able to rapidly expand its presence in the market.
The company’s proprietary gasification technology was selected by Phoenix Energy for two biomass power plants in California. Designs for the first plant has already been completed, and, it is presently in talks with Phoenix over a potential deeper collaboration.
What boss says
"We feel very positive about the current position of EQTEC and its ability to execute its strategy,” said chief executive Ian Price on May 15. “The board believes that working with a select group of strategic partners, with track record and success in their markets, will enable us to create and coordinate the ecosystem required to develop successful projects with proven counterparties. We continue to expand our pipeline and through this approach, to have a much greater influence on all aspects of such projects from design to operations.”