EQTEC signs deal to extend contract with Extremadura University in Spain
EQTEC, which focuses on sustainable solutions from converting waste to clean energy, said that it will allow the production of sustainable biofuels using the group’s advanced gasification process which has been used at the university since 2010.
The extension follows a successful application by the European Regional Development Fund (ERDF) to secure funding for the testing of the production of biofuels from syngas using a Fisher-Tropsch process and unit.
The installation of the new unit, which EQTEC is responsible for, is expected to be completed in the third quarter of 2020 with its costs to be reimbursed by the university upon completion.
The company added that it will have the ability to carry out tests with a variety of biomass and waste feedstocks which will be processed into a clean syngas and then into sustainable biofuels.
Shares in EQTEC were trading 10% lower at 0.18p during Monday trading.
Dr. Yoel Aleman, Chief Technology Officer of EQTEC said the deal would assist the business in validating the quality and versatility of its application technology “to all future stakeholders.”
"Our continuous work with universities and technology research centres is a testament of our ambition to remain a technology thought leader in our sector and our desire to continue to develop our technology for wider applications,” said Aleman.
EQTEC has been collaborating with Dr. Juan Félix González from the University of Extremadura since 2007 in the research of breakthrough technologies in renewable energy and alternative fuels.
Commenting on the business, González said, “We believe that their depth of knowledge and technical capabilities are second to none and that they have developed a technology that it is unrivalled in its versatility and reliability.”
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