EQTEC, a technology innovator in waste-to-value products, has announced that it will cease activity on its Billingham project in the UK. The decision is due to challenging market conditions and setbacks with the project. The Teesside project aimed to create a facility that would convert refuse-derived fuel into electricity for export to the national grid. All necessary permits and permissions had been secured, and the company had invested £4m into the development. EQTEC is in discussions with Scott Bros, the landowner, about recovering investments. Despite the setback, EQTEC remains committed to developing waste-to-value solutions.
EQTEC, a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value products for hydrogen, biofuels, and energy generation, has announced its intention to cease activity on its Billingham project at Haverton Hill, UK.
The decision comes amidst increasingly challenging market conditions in the UK and following recent setbacks with the Project that make it unfeasible for the Company to prioritise against its broader strategic opportunities.
The Teesside project was one of the company's most ambitious to date, and aimed to create a refuse-derived fuel-to-combined-heat-and-power facility that would transform 200,000 tonnes per year of RDF into up to 25MW of electricity for export to the national grid.
All relevant permits and permissions for the plant, which had the potential for creating up to 34MW of thermal energy, had been secured and the business had invested about £4m into the development.
The project's option to lease the land owned by Billingham EFW, a wholly owned subsidiary of Scott Bros, is contingent upon retention of the grid connection and therefore is also at risk given the NPg contract termination.
EQTEC remains in discussion with Scott Bros about options for recovering as much as possible from the investments made in the land and project.
The decision to cease activity on the Billingham project is a disappointing one, but it is essential for EQTEC to focus on its broader strategic opportunities and to reduce its risk profile. The company is well-positioned to benefit from the growing demand for waste-to-value solutions, and it is committed to working with partners to develop and deploy its technology at scale.