EQTEC PLC has secured a €2.9 million loan facility to refinance its Italy Market Development Centre located in Tuscany, Italy. The loan has a term of 48 months and an annual interest rate of 2.5% over the six-month Euro Interbank Offered Rate (Euribor), making the interest rate approximately 6.5%. The loan is guaranteed up to 80% by MedioCredito Centrale S.p.A., which is controlled by the Italian Ministry of Economy. The provision of funds is subject to the Plant's achievement of certain performance criteria set by the lender. EQTEC engineers are working on performance improvements that are expected to be completed in early Q4 2023. Once the required performance criteria are met, the loan will be drawn down in full. The Plant became operational in March 2023 and EQTEC completed the handover of plant operations to Italia MDC in June 2023. EQTEC remains actively involved in supporting Italia MDC in its operations.