MetalNRG plc (LON: MNRG), the natural resource investing and exploration company, announces it has entered into a Framework Partnership Agreement (FPA) to develop sustainable Green Energy projects in partnership with EQTEC plc ( AIM: EQT), a world-leading gasification technology solutions company for sustainable waste-to-energy projects.
MetalNRG has set up a Special Purpose Vehicle, MetalNRG Eco Ltd, to develop biomass, waste to energy and sustainable green energy projects in the UK and Europe.
EQTEC and MetalNRG will work in partnership on investments, with EQTEC advising technically, financially, and operationally, becoming MetalNRG’s preferred technology partner for Green Energy Projects.
The focus will be on “shovel ready” projects, that meet the Company’s existing investment criteria, are sited in the UK and Europe, will have a CAPEX investment of between £5 million to £15 million, can be financed by a combination of debt and equity and will deliver revenues within 18 months of transaction close and have a minimum unlevered IRR of 11%
About the Framework Partnership Agreement:
MetalNRG will be part of the transition to renewable green energy and seeks to invest, develop, and deliver sustainable green energy solutions that help reduce CO2 emissions and contribute to the achievement of 2050 net zero goals. Working alongside EQTEC the Company will have an ideal technical partner with tremendous technical knowhow that will enable MetalNRG to accelerate its route to market and revenues.
MetalNRG has set up a Special Purpose Vehicle, MetalNRG Eco Ltd, to focus exclusively on the development of green energy projects. Over the next few months, we will advance a pipeline of viable projects that meet the Company’s existing investment criteria, and we will progress a number of investments that can deliver revenues via the application of green energy solutions with specific focus on biomass projects and waste to energy projects in the UK and Europe.
To add substance to the intentions of the Business Development Partnership, EQTEC and MetalNRG have agreed that EQTEC will acquire £500,000 of MetalNRG shares when MetalNRG finalises its prospectus. EQTEC will acquire the MetalNRG shares via the allocation of EQTEC shares to MetalNRG.
As the world’s leading experts in gasification for sustainable waste-to-energy projects, EQTEC is building the future of the sector, combining its technology innovation and engineering with expert plant construction and project deliveries, to help drive the global energy transition. EQTEC’s proven, proprietary and patented technology is at the centre of projects that aim to enhance local communities and champion local businesses with an improved environmental impact.
EQTEC designs and supplies advanced gasification solutions that have a higher efficiency product offering and are modular and scalable from 1MW to 30MW. EQTEC’s versatile solutions are independently proven to process over 50 different types of feedstock, including municipal waste, agricultural waste, biomass and plastics with no hazardous waste or toxic emissions . EQTEC’s solutions produce a uniquely pure high-quality synthesis gas (syngas), that is capable of being used for the widest applications in the creation of energy, hydrogen and biofuels.
EQTEC’s proprietary technology design together with deployment and maintenance capabilities mitigate the risks when using third party equipment. EQTEC’s Technology Integration capabilities enable the Group to lead collaborative ecosystems that build sustainable waste elimination and green energy infrastructure.
The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange awarded EQTEC the Green Economy Mark that 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.
Rolf Gerritsen, CEO of MetalNRG commented:
” EQTEC is the ideal partner for MetalNRG to work with and accelerate the generation of environmental impactful projects. Their technical and project delivery expertise in creating commercial and sustainable waste to energy plants, which we believe is the future of energy market especially in Europe, makes them the ideal partner for us to work with. I look forward to updating the market with additional information as we move forward with this extremely exciting project, which will see MetalNRG at the heart of the energy transition and help the world shift from fossil fuels to renewable energy. We have always said that energy transition will come from within the market and for MetalNRG this is the natural next step following BritNRG’s acquisition of Sunswept and has been in planning for a number of months.”
The person who arranged for the release of this information is Rolf Gerritsen, the Company’s Chief Executive Officer.
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