EQTEC hails “busy and rewarding” 4Q21
(EQT ) said its fourth quarter in 2021 “was busy and rewarding as a result” as it made progress towards commissioning two new market development centres in Italy and Croatia.
The bioscience energy firm said that despite some challenging market conditions - particularly raw materials shortages, higher prices and increased shipping costs and times - it has delivered over four times revenue growth in the range of €8-10m, up from €2.2m in 2020.
EQTEC expects 2021 revenues to continue in this range, while it also indicates an anticipated 2021 EBITDA loss (adjusted for one-off, share-based payments) in the range of €2.5-3.5m.
The company detailed that its 2021 revenue and EBITDA are due to be finalised through its annual audit and reported in its annual results, which it expects to publish in April 2022.
The company said it expects the two MDCs in Italy and Croatia, which will be commissioned in 2H22, respectively, to showcase EQTEC’s technology in live, commercial environments.
In addition to these, three other plants are under construction in the US, Greece and Croatia.
Over the period, the company also announced progress with a number of projects in the UK and Greece and also progressed with development of projects in the US, France and Ireland.
In the United Kingdom, these projects include the development of an advanced gasification facility deploying EQTEC technology at its Deeside refuse-derived fuel (“RDF”) project in Flintshire, Wales, as well as the Southport
Hybrid Energy Park project in Merseyside.
Insert SP chart.
EQTEC outlined to investors that its 2022 objectives maintain a strong focus on revenue growth, ‘supported by disciplined project development and construction with a rising number of larger partners with qualified delivery track records and multinational market access.’
It will also test and develop more, high-margin feedstock types and extend its technology into new syngas applications such as waste-to-hydrogen, waste-to-SNG and waste-to-biofuels.
Together with the broader financial modelling and commercial negotiation capabilities, EQTEC said these additional capabilities co-developed with technology partners ‘will support definition and market testing of new EQTEC solutions targeted at growing demand in specific markets.’
CEO of EQTEC David Palumbo, said: “We are active now in seven markets and have opened the door for more as we scale. Despite some challenging market conditions, particularly raw materials shortages, higher prices and increased shipping costs and times, we have delivered over four times revenue growth and find ourselves in a strong position to grow even faster.”
He added: “We will do this across both geographical and solutions markets, driving innovation and better targeting of demand, together with our local and some multinational partners. 2022 will see us commission more plants with more operational availability and prove our case that EQTEC syngas is the future for reliable, carbon-negative, baseload energy and biofuels.”
Follow for more news and updates on :
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.