- Gasification technology solutions company Eqtec announced the acquisition and planned recommissioning of a 1MWe waste-to-energy plant in Italy.

The company acquired, and would lead a consortium to repower, own and operate, the biomass-to-energy plant in Castiglione d'Orcia, Tuscany, Italy. Eqtec together with the consortium would invest €2.1 million for an initial 80% equity interest in the plant.

'Once operational, it is intended that the plant will transform straw and forestry wood waste from local farms and forests into green electricity and heat for use in the local community,' the company said.

'The company estimates that the plant will generate an unlevered IRR of 20% and annual EBITDA in excess of €750,000, it added.

The contract value of Eqtech's technology sales for the plant is expected to be €1,750,000 in technology and engineering upgrades.

The plant is expected to be fully recommissioned and operational by Q2 2022.

At 9:01am: [LON:EQT] Eqtec Plc Ord Eur0.001 share price was 0p at 0.51p

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