EQTEC is in advanced negotiations to sell its Deeside waste-to-hydrogen facility and to supply natural gas and energy to Toyota for their neighboring engine production.
This month, the business and its partner Logik Developments plan to reach an agreement on the sale of the Deeside property.
Talks with Toyota Motor Manufacturing on a supply agreement are reportedly at an advanced level, and TotalEnergies has provided an amended set of terms for gas and power offtake that “substantially improve” the project’s economics.
EQTEC stated that conversations are also ongoing with shortlisted technical partners for a system that would convert waste-produced syngas into hydrogen.
The company announced that it intends to issue 20,1 million additional shares to select strategic service providers providing business development and advisory services to the group in exchange for fees owed to them, with trading set to commence on September 6.
The business is developing three waste-to-energy/fuel plants in the United Kingdom, including sites in Billingham, Teesside, and Southport, Merseyside.