EQTEC PLC has provided an update on the settlement agreement with Logik Developments Limited and its subsidiary, Logik WTE Limited. The settlement sum's payment is contingent on the sale of a site at Weighbridge Road in Deeside Industrial Park. The legal execution of documents related to the sale of the Land has taken longer than expected, and the completion is now anticipated in the coming weeks. The completion long stop date has been extended to 12 July 2024, and the Company expects to receive £2,000,000 under the settlement agreement upon completion. EQTEC will provide a further update in due course.
As a global technology innovator, EQTEC delivers waste management and new energy solutions through innovation and infrastructure engineering. The company's technology is at the center of clean energy projects, sourcing local waste and supporting the transition to localised, decentralised, and resilient energy systems. EQTEC's solutions process various feedstock, producing a pure, high-quality synthesis gas ("syngas") for applications such as electricity and heat generation, renewable natural gas production, biofuels, and hydrogen reforming. The company is listed on the London Stock Exchange's AIM and has been awarded the Green Economy Mark for its environmental and green solutions.