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EQTEC gets planning approval for Billingham waste-to-gas plant

Approval is for a revised scheme that reduces the size of the plant

EQTEC PLC -

EQTEC PLC (LON:EQT) said it has received local council approval for a 25MWe waste-to-gas plant at Billingham, Teeside.

The resolution from Stockton-on-Tees Borough Council is for a revised scheme that EQTEC said both improves the economics of the project and reduces the size of the footprint of the plant.

EQTEC signed an option to acquire the land at the Haverton Hill site in December. 

David Palumbo, chief executive, said that he was delighted with the approval, which he described as a milestone for the company: "EQTEC estimates that, with the application of our advanced gasification technology, this sustainable waste-to-energy Project will convert 200,000 tonnes of non-recyclable household and commercial waste each year into 25MWe of green electricity and 34MW of thermal heat production.”

Once full commercial EPC offers are reviewed and negotiated to contract, a final decision will be reached with regards the funding structure for the project, he added.

A grid connection for the project has been secured and completed technical due diligence with technology insurance providers while discussions with potential funders and co-developers are progressing well, Palumbo said.

To date, four commercial plants have been built and are using EQTEC's advanced gasification technology.

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Price: 1.8 GBX

AIM:EQT
Market: AIM
Market Cap: £127.69 m
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