- Gasification technology solutions company Eqtec said it was targeting a maiden profit in 2021 as new and existing projects were expected to bolster sales.

Revenues from inflight projects, new projects and gradual growth from maintenance and consulting contracts were forecast to be 'approximately €15 million in 2021, with positive EBITDA, which would make 2021 Eqtec's first year of profitability.

For 2021, the company is targeting sales growth from 6 to 8 projects across Europe.

The targeted projects include the RDF-to-energy facility at Billingham, UK, a single project valued in excess of €30 million in engineering and technology sales to the group over the construction phase of the project.

Depending on the size of the plant, the project delivery period may be anywhere from 12 to 36 months.

For the year ended December 2020, meanwhile, results were expected to be 'broadly in line' with market expectations.

The company expected to report a loss not lower than €4 million before any potential one-off adjustments.

Results for the financial year ending 31 December 2020 was expected to be released in April 2021.

At 8:35am: [LON:EQT] Eqtec Plc Ord Eur0.001 share price was 0p at 0.51p

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