EQTEC plc the technology solution company for waste gasification to energy projects, is pleased to announce that it has signed a Framework Agreement (“the Agreement”) with Phoenix Biomass Energy, Inc. (“Phoenix”), a California based power company that builds, owns and operates on-site biomass gasification plants in partnership with businesses in the Agricultural, Waste, and Forestry industries.
Under the Agreement, the parties will seek to jointly develop biomass gasification power projects in the US, with five projects having already been identified. The target projects will generally be 2 to 3 MW in size, with an estimated project value between USD15 and USD20 M each. Once the parties have agreed to proceed with a project, EQTEC will provide its proprietary Gasifier Technology (“EGT”), together with technical design and engineering for the power plants and the parties will work together to secure the necessary funding to develop such projects.
The Agreement builds on the Company’s strategy to focus on the recovery of clean energy from biomass. It also builds upon the existing relationship with Phoenix.
