EQTEC wins two contracts worth nearly $12M

September 24, 2018 |

In Ireland, EQTEC plc, a technology solution company for waste gasification to energy projects, signed a Memorandum of Understanding with Phoenix Biomass Energy, a California based power company, to supply its proprietary EQTEC Gasifier Technology for two power plants in California. Phoenix considers EQTEC as the exclusive technology supplier of a 2MWe gasification plant and a 3MWe gasification plant for the 12 months from the date of the MOU.

The contracts are expected to be valued around EUR 10 million, or nearly $12 million. Financial close is expected in late Q4 2018 and the purchase contracts executed shortly thereafter.

Ian Price, CEO of EQTEC plc, said, “We are delighted to be the exclusive supplier of technology to Phoenix Energy. The USA is a key country for waste to gasification technology and we are excited to be entering this market with our first project with Phoenix Energy.”

Category: Fuels

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