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27 Jan 2021 | 11:49

Eqtec gets planning resolution for Billingham project

(Sharecast News) - Waste-to-energy gasification technology company Eqtec announced on Wednesday that the proposed 25 MWe Billingham waste gasification and power plant at Haverton Hill, Billingham, has received a resolution from Stockton-on-Tees Borough Council to grant planning approval for an improved scheme. The AIM-traded firm said it proposed the scheme to reduce the environmental impact of the project, and improve its commercial outcome.

"We are delighted to start 2021 with the achievement of a significant milestone for the project and company, by securing planning approval on the project site for our revised scheme, and so soon after signing the call option and exclusivity agreement last December," said chief executive officer David Palumbo.

"Eqtec estimates that, with the application of our advanced gasification technology, this sustainable waste-to-energy project will convert 200,000 tonnes of non-recyclable household and commercial waste each year into 25MWe of green electricity and 34MW of thermal heat production."

That was waste that would otherwise be diverted to less economically and environmentally beneficial options such as landfill or incineration, Palumbo said.

"The project is expected to deliver jobs and environmental and economic improvements to the local area and attractive returns to our shareholders.

"We are pleased with the momentum of this project, which we have now resourced with an experienced project delivery team.

"We remain focused on securing the optimal construction and operational structure for the project, for the benefit of all our stakeholders."

At 1132 GMT, shares in Eqtec were up 7.42% at 2.6p.
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