---
title: "EQTEC (AIM:EQT) Secures Initial Services Contract After Selling France Center"
publisher: "Share Talk"
author: "sharetalk"
published: "2023-08-17T07:13:53+00:00"
modified: "2023-08-17T07:13:53+00:00"
date: 2023-08-17
canonical: "https://www.share-talk.com/eqtec-aimeqt-secures-initial-services-contract-after-selling-france-center/"
category: "Energy"
categories: ["Energy"]
tags: ["agricultural waste", "Beliše", "Billingham", "biogas", "Biomass", "Carbon Sole Group", "Croatia", "David Palumbo", "Energy waste", "EQT", "EQTEC", "gasification", "Gasifier", "Green Energy", "Haverton Hill", "Ireland", "Italy", "Karlovac", "Manufacturing", "Motor", "plastics", "power plant", "recommission", "Scott Bros", "Sean Daly", "Sense ESCO", "Sole Group Limited", "Synergy Projects", "TECHNOLOGY", "Toyota", "Tuscany", "UK", "waste gasification"]
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format: "news"
language: "en-GB"
---

# EQTEC (AIM:EQT) Secures Initial Services Contract After Selling France Center

**Published:** August 17, 2023
**Author:** sharetalk
**Categories:** Energy
**Tags:** agricultural waste, Beliše, Billingham, biogas, Biomass, Carbon Sole Group, Croatia, David Palumbo, Energy waste, EQT, EQTEC, gasification, Gasifier, Green Energy, Haverton Hill, Ireland, Italy, Karlovac, Manufacturing, Motor, plastics, power plant, recommission, Scott Bros, Sean Daly, Sense ESCO, Sole Group Limited, Synergy Projects, TECHNOLOGY, Toyota, Tuscany, UK, waste gasification
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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EQTEC anticipates approximately €440,000 in revenue from the FEED contract.

EQTEC has secured a front-end engineering design (FEED) contract for its waste-to-energy technology marketing centre in France, awarded by the new owner and partner, Idex Services.

According to the terms of the FEED contract, work is slated to commence immediately and reach completion by December 2023. For this contract, EQTEC is set to receive a payment of approximately €440,000.

This FEED contract will furnish Idex with all the vital technical information required to make a final investment decision (FID) regarding the retrofit and construction activities at the France Marketing and Development Centre (MDC).

In July, EQTEC sold a 95% stake in the MDC to Idex. This transaction involved payments of €3 million, along with a commitment for an additional €15 million for services and equipment during the construction phase, contingent on the decision to proceed with the project.

David Palumbo, the Chief Executive Officer of EQTEC, expressed his satisfaction with the collaboration, stating: “We are delighted to be partnering with Idex on this significant second project, which holds special importance for us, given its relation to our France MDC.”

Palumbo further acknowledged Idex’s proactive approach, saying, “We are encouraged by the initiative Idex has demonstrated through its agreement to an ambitious timeline, targeting the completion of the design phase and aiming for the commencement of construction by early 2024.”

He concluded by highlighting that “This third MDC for EQTEC, and our second collaborative project with Idex, collectively signal a rising demand in the market.

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