Company Announcements

18 September 2024

EQTEC plc

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

Appointment of Non-executive Director

EQTEC plc (AIM:EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation, is pleased to announce the appointment of Brian Cole to the Board of Directors of EQTEC (the "Board") as independent Non-executive Director (NED), effective from 23 September 2024.

With a background in marketing, business development and quality management in engineering companies, Mr Cole brings a versatile skill set to the Group. As a seasoned company director with an extensive career in the energy sector, his expertise covers every stage of energy project development, from pre-feasibility to commissioning, for both renewable and conventional generation and infrastructure. With a strong educational background in industrial engineering and a master's degree in business administration (MBA) from University College Dublin, Mr Cole is well qualified in the techno-economic assessment and commercialisation of leading-edge technologies.

As an advisor, Mr Cole actively collaborates with various investors in solar, wind, biomass, wave, gasification, concentrated anaerobic digestion, combined heat and power (CHP) and conventional power plant and infrastructure ventures. His experience extends across Ireland, the UK, France, Germany, Spain, Portugal, Greece and Croatia. He was directly engaged in securing €530 million of EU funding for the 700 MW HVDC Celtic interconnector between Ireland and France. He crafted the five-year plan for Ireland's largest utility for strategic investment in renewable and conventional generation and infrastructure. Furthermore, as leader of the Strategic Consultancy Group, he managed and directed a team of experts carrying out techno-economic assessments of innovative power technologies and project opportunities, evaluating their potential for investment, scalability, and suitability for development and commercialisation.

Following Mr Cole's appointment and Chief Operating Officer (COO), Jeffrey Vander Linden stepping down on 29 September 2024, the Board will comprise five directors, including three independent non-executive directors.

Ian Pearson, Chairman of EQTEC, commented:

"It is a pleasure to welcome Brian to the Board of Directors at a time when the business is preparing itself for the future and driving significant change as a result. His experience and gravitas are very welcome, along with his passion and depth of experience with engineering companies and operational excellence. He is already proactively outlining areas of focus for his support to the business and, with the recently announced appointment of a new Operations Director in Spain, we are expecting this will lead to significant change and improvement in EQTEC's readiness for growth and scale as a leading innovation and engineering company. On behalf of the Board and EQTEC leadership, we all look forward to working with him."

Brian Cole, newly appointed Non-Executive Director at EQTEC plc, commented:

"I am delighted to join EQTEC at such a pivotal time in its evolution. The company's innovative approach to waste-to-value solutions presents a huge potential for growth, particularly as the world increasingly moves towards sustainable energy. With my experience in engineering and operational excellence within the energy sector, I am confident that I can contribute effectively to the strategic direction and operational success of EQTEC. I look forward to working closely with the Board and the wider team to help drive the company's ambitious goals and unlock new opportunities in the rapidly expanding market for clean energy solutions."

Additional Disclosures:

The following information is disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies in relation to Mr Brian Robert Cole (aged 68):

Mr Cole has no direct or indirect interest in the Company's issued share capital.

There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.

ENQUIRIES

About EQTEC 

As one of the world's most experienced thermochemical conversion technology and engineering companies, EQTEC delivers waste management and new energy solutions through best-in-class innovation and infrastructure engineering and value-added services to owner-operators. EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. 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, specifies and delivers clean, syngas production solutions in the USA, EU and UK, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of feedstock, including forestry waste, agricultural waste, industrial waste 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 renewable 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 the London Stock Exchange's Alternative Investment Market (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.