EQTEC signs Strategic Alliance Agreement with COBRA
EQTEC and Cobra Instalaciones Y Servicios SA ("COBRA") is pleased to announce that it has signed a Strategic Alliance Agreement ("the Agreement") to identify and collaborate on waste-to-energy projects.
EQTEC, the technology solution company for waste gasification to energy projects, is pleased to announce that it has signed a Strategic Alliance Agreement ("the Agreement") with Cobra Instalaciones Y Servicios SA ("COBRA"), a worldwide leader in developing, building and operating infrastructure projects, to identify and collaborate on waste-to-energy projects that will utilise the Company's proprietary EQTEC Gasifier Technology ("EGT"). EGT has been developed over 20 years and has over 70,000 operating hours on commercial projects.
The signing of the Agreement follows extensive technical due diligence carried out on EGT over the last few months. The confidence in the performance, costs and efficiency projections has prompted both companies to commit resources to jointly construct and operate large scale commercial waste-to-energy projects.
Under the terms of the Agreement, COBRA will be the EPC Contractor for the engineering, procurement and construction ("EPC") for the whole power plant of the Projects and will exclusively use EGT for the gasification and gas cleaning process.
EQTEC and COBRA will review each new opportunity identified on a project-by-project basis to assess the best use of EGT for the project, which could include electricity generation, heat supply and/or Combined Cooling, Heat and Power ("CCHP"). EQTEC will provide the basic and detailed engineering, technical design for the EGT gasification package, performance warranties on generated gas, together with the equipment agreed, dependent on the particular project. If required, COBRA will also seek to attract external financing resources to develop and implement the Projects.
EQTEC and COBRA are currently identifying opportunities in UK.
Luis Sanchez, CEO of EQTEC, commented: "COBRA has an extensive track record of successfully delivering projects in the Americas, Europe, Africa, Asia and Oceania and we are pleased that they have validated the superior performance of our proprietary technology. The agreement presents a perfect opportunity to combine our experiences and expertise to expand our reach, open new doors and bring further opportunities to utilise EQTEC Gasifier Technology around the globe and for large-scale projects."
Link EQTEC PLC web side: https://polaris.brighterir.com/public/eqtec/news/rns/story/xo5681w