Skip to main content

Eqtec signs MoU with Phoenix Biomass Energy worth about €10m

EcoCrops International reports that a Technology solution company Eqtec said on Monday it had signed a memorandum of understanding, with Phoenix Biomass Energy, a USA company located in California.  Phoenix Biomass Energy a power company, to supply the company's proprietary Eqtec Gasifier Technology for two power plants in California, USA.

The two contacts to be signed are collectively are expected to be valued in the regions of €10m
The Financial close is expected in the last fourth quarter of 2018 and the purchase contracts are expected to be signed and executed shortly after that Eqtec reported.

Under the terms of the contact, Eqtec was the exclusive technology supplier of a 2MWe gasification plant and a 3MWe gasification plant to Phoenix for the 12 months from the date of the memorandum of understanding.

'We are delighted to be the exclusive supplier of technology to Phoenix Energy. The USA is a key country for waste to gasification technology and we are excited to be entering this market with our first project with Phoenix Energy,' said Ian Price, CEO of Eqtec.

'These Californian projects are exciting opportunities for EQTEC and we're extremely proud to be selected by Phoenix. This demonstrates the flexibility of EQTEC technology and our ability to be commercially competitive in delivering projects of differing scale and operating on many fuel types globally.' 

James Grainger of EcoCrops International stated he was happy with this development and it was a movement in the right direction.  To see images of EcoCrops International please click here
Labels:

Comments

Post a Comment

Popular posts from this blog

Is something bad going to happen to the Stock Market

Jeffrey Gundlach the famed American inventor and business mogul believes that the global stock market is signalling 'something bad' is happening. Why would anyone listen? He has the pedigree and experience to make people sit up and listen. Gundlach was formerly the head of the $9.3 billion TCW Total Return Bond Fund, where he finished in the top 2% of all funds invested in intermediate-term bonds for the 10 years that ended prior to his departure. He was fired by TCW in 2009. In 2009, shortly after his firing from TCW, Gundlach founded Doubleline, along with Philip Barach and 14 other members of Gundlach's senior staff from TCW.  Barach was Gundlach's co-manager of the $12 Billion TCW Total Return bond fund.  In a February 2011 cover story, Barron's called him the "King of Bonds." Jeffrey Gundlach is of the opinion that the U.S. stock market will not be able to continue to diverge from global equity markets in the long-term. "I said [before...
Post a Comment
Read more

Dow plunges more than 1000 points

US stocks have decreased more than 1,200 points in the last two days, as the market's recent downturn gets worse and indices in Asia and Europe also took a massive dip. The Dow Jones fell 545 points and on Wednesday the Dow Jones Industrial Average plunged more than 850 point, which was its worst drop in over 7 months. This is the sixth day of losses for the markets, as there are signs of a slowdown in the economy and us battle trade with China. The Nasdaq fell 92 points, or 1.3 per cent, to 7,329.06. The Russell 2000 dropped 25 points, or 1.6 per cent, to 1,550.25. Now Investors are trying to find out the best place to put their money amid concerns over  slowing global economic growth, but  even though there is a lot going on in the markets, here at EcoCrops International the project we're currently running in Estonia is a Asset-backed investment where you would own the land and trees on  99 Year Lease. Even healthcare and bank stocks took a tumble on Thursd...
Post a Comment
Read more