{"id":93380,"title":"MetalNRG PLC (MNRG.L) Update on the Company’s EQTEC Italia Investment","publisher":"Share Talk","author":"sharetalk","published":"2022-02-02T07:41:15+00:00","modified":"2022-02-02T07:41:15+00:00","canonical_url":"https://www.share-talk.com/metalnrg-plc-mnrg-l-update-on-the-companys-eqtec-italia-investment/","markdown_url":"https://www.share-talk.com/metalnrg-plc-mnrg-l-update-on-the-companys-eqtec-italia-investment.md","json_url":"https://www.share-talk.com/metalnrg-plc-mnrg-l-update-on-the-companys-eqtec-italia-investment.json","category":"Energy","categories":["Energy","Renewable"],"tags":["Arizona","Australia","Bart Stryhas","BritNRG","BritNRG Limited","Chevron's","EQTEC","gas","Gold","Gold Ridge Mine","Humber","Imwelo","Lake Victoria","MetalNRG","MetalNRG plc","MNRG","oil","Pierpaolo Rocco","Refinery","Seth Dickinson","Sunswept","Tanzania","Tanzoz Minerals Ltd","UK onshore"],"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&ssl=1","format":"news","language":"en-GB","content":"Following the trading update released to the market by **EQTEC plc (AIM: EQT)** on 1 February 2022, the Company is pleased to provide an update on progress made at its investment project in Italy.\n\nIn October, EQTEC’s work with partners on the recommissioning of EQTEC Italia MDC SRL in Tuscany, Italy (“Italia MDC”) progressed with the site fully cleaned and relevant components disassembled and cleared.\n\nIn December, EQTEC Italia ordered core technology components and all deliveries were made on schedule. The 1MWe plant will convert multiple types of biomass feedstock into heat, power and/or fuel for local businesses and residents.\n\nOnce operational, Italia MDC is expected to generate annual plant revenues of c. 2,000,000, with plant EBITDA of c. 750,000.\n\nThe Company currently owns 26.6% of Italia MDC. In January 2022, Company Directors visited the site with fellow shareholders and reviewed progress with local construction partner COS.M.I. SRL.\n\nThe meeting also addressed the potential for further commercial opportunities for the plant, including production of high-quality biochar and construction of additional infrastructure to accommodate higher-margin feedstock and further offtake alternatives.\n\nEQTEC is undertaking feasibility assessments now and expects to complete them in Q1 2022.\n\n**MetalNRG Chief Executive, Rolf Gerritsen, commented** “Good progress is being made toward recommissioning the Italia MDC plant in 2022 and we look forward to our ongoing working relationship with EQTEC. The partnership is a solid development opportunity and investment, allowing us to support the social, environmental and economic improvements that a sustainable approach to waste-to-energy can have.”\n\nEND\n\n**Contact details:**\n\n**MetalNRG PLC**\n\n**Rolf Gerritsen**\n\n**Christopher Latilla-Campbell**\n\n**+44 (0) 20 7796 9060**"}