Agreement to acquire Greek waste-to-energy project

13 October 2021

EQTEC plc

("EQTEC", the "Company" or the "Group")

Agreement to acquire waste-to-energy project in Greece

EQTEC plc (AIM: EQT), a world-leading gasification solutions company building a cleaner waste-to-energy industry, is pleased to announce that it has signed an agreement for the proposed acquisition of a 5MWe project in Drama (the "Project"), North Eastern Greece, through the recently established EQTEC Synergy Projects Limited ("Synergy Aegean"), a joint venture ("JV") between EQTEC and its Greek strategic partners, German EPC company, ewerGy GmbH ("ewerGy") (operating in Greece via its local partner, ECO Hellas M IKE).

Once acquired, the JV will lead the development of a new biomass-to-energy plant (the "Plant"), generating 5MW green electricity from locally and sustainably sourced forestry waste. Due diligence, including financial and technical feasibility, has been completed.

Completion of the acquisition of the Project is subject to entering into of a Project Purchase Agreement, customary for this type of transaction.

Highlights:

David Palumbo, CEO of EQTEC, commented:

"I am very pleased that our Joint Venture in Greece is gaining further momentum with the intended acquisition of this project in Drama, after last month signing an agreement securing two agriculture waste-to-energy projects in Livadia. All of our projects in our Greek pipeline, now totalling five and with strong potential for more, will help local farmers and forestry managers to use the waste they produce in a way that supports a circular economy and is beneficial for the environment and local communities. This will be considered a project of public interest as it addresses two critical local requirements: heating and employment. Through this Project, we are continuing to extend the reach of and apply our Advanced Gasification Technology in the EU, demonstrating strong demand in this market for the more sustainable approach to waste-to-energy that EQTEC can deliver."

ENQUIRIES

About EQTEC plc

As one of the world's most experienced gasification technology and engineering companies, with a growing track record of delivering operational and commercial success for transforming waste-to-energy through best-in-class technology innovation, engineering and project development, EQTEC brings together design innovation, project delivery discipline and solid commercial experience to add momentum to the global energy transition. EQTEC's proven, proprietary and patented technology is at the centre of clean energy projects, sourcing local waste, championing local businesses, creating local jobs and supporting the transition to localised, decentralised and resilient energy systems.

EQTEC designs, supplies and builds advanced gasification facilities in the UK, EU and US, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process over 50 varieties of feedstock, including forestry wood waste, vegetation and other agricultural waste from farmers, industrial waste and sludge from factories and municipal waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a pure, high-quality synthesis gas ("syngas") that can be used for the widest range of applications, including the generation of electricity and heat, production of synthetic natural gas (through methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.

EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.

The Company is quoted on AIM (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which 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.