EQTEC PLC has announced a joint venture with CompactGTL Limited to establish a new business in renewable synthetic fuels, including sustainable aviation fuel (SAF). The joint venture, owned equally by both companies, aims to become an innovator and licensor of technology for liquid fuels produced from waste. The immediate objective is to form a consortium of investors to fund a commercial-scale reference plant that proves the viability of the waste-to-liquid fuel solution.
This joint venture is a result of the collaboration framework agreement between EQTEC and CompactGTL, where they agreed to collaborate on waste-to-fuel projects and other synthetic fuel and energy infrastructure projects. The partners have pursued funding, identified project opportunities, and undertaken joint design and costing to build gas-to-liquids R&D capabilities at EQTEC's syngas pilot plant in France.
The joint venture aims to significantly de-risk projects seeking reliable SAF or other liquid fuel capabilities and intends to apply the solution in support of ground transport, airline, and other industries. The partners have identified potential investors for the R&D integration and the reference plant and will pursue closure of funding and development of the reference plant through the joint venture.
David Palumbo, CEO of EQTEC, highlighted the potential of renewable synthetic fuel production and the quality of syngas that EQTEC technology enables, which is likely to result in higher productivity and efficiency. Anar Asgarov, CEO of CompactGTL, expressed dedication to establishing a strong track record with renewables and combining successful technologies to contribute to the renewables sector and liquid fuels market.
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