TIDMMNRG
RNS Number : 9223S
MetalNRG PLC
22 March 2021
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("EUWA")) ("UK MAR").
22(nd) March 2021
MetalNRG plc
(The "Company" or "MetalNRG")
FRAMEWORK PARTNERSHIP AGREEMENT WITH EQTEC PLC
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 GBP5 million to
GBP15 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
GBP500,000 of MetalNRG shares when MetalNRG finalises its
prospectus. EQTEC will acquire the MetalNRG shares via the
allocation of EQTEC shares to MetalNRG.
About EQTEC:
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.
For further information, please contact:
METALNRG PLC - Rolf Gerritsen (Chief Executive +44 (0) 20 7796
Officer) 9060
Joint Brokers:
--------------------
PETERHOUSE CAPITAL LIMITED +44 (0) 20 7469
Guy Miller / Duncan Vasey / Lucy Williams 0930
--------------------
SI CAPITAL LIMITED
Nick Emerson +44 (0) 1483 413500
--------------------
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