EQTEC PLC has announced an update on the share capital ownership of EQTEC Italia MDC Srl, the operating company for the Group's Italy-based Market Development Centre. The share ownership has been updated to reflect recent investments made into the biomass-to-power plant that is the focus of its business activities. The updated capital ownership of the plant is as follows: Quainstone Limited - 39.76%, EQTEC Holdings Limited - 38.30%, Pitcole Limited - 10.97%, MetalNRG - 10.97%. The Company has entered into a loan facility of €2.9 million provided by Banca del Fucino S.p.A. to refinance the plant, subject to certain performance criteria being met. The improvements to achieve these criteria are being financed through a combination of shareholder loans and equity from two of the four investors in Italia MDC. The improvements are anticipated to be completed in Q4 2023, at which point Italia MDC intends to draw down the full amount of the loan facility.