Eqtec PLC - Ascot, England-based energy services technology and equipment supplier - Through its subsidiary, EQTEC Iberia SLU, signs a contract with Idex Services for the front end engineering deign at the company’s France Market Development Centre. Idex is a French infrastructure owner and utility company.

The work outlined in the FEED Contract is expected to start immediately and be completed by December 2023. Eqtec expects to receive around €440,000 for the full scope of the work, under which it will provide Idex with all the technical information necessary to make a final investment decision regarding retrofitting and construction at the France MDC.

Chief Executive Officer David Palumbo says: ‘We appreciate the impetus Idex has shown through its agreement of an ambitious schedule toward completion of design and progression toward construction start by early 2024. This third MDC for EQTEC and second project in partnership with Idex together indicate growing demand from innovative, blue-chip partners and funders to build and operate new energy infrastructure powered by EQTEC to futureproof their operations.’

Current stock price: 0.18 pence

12-month change: down 61%

Copyright 2023 Alliance News Ltd. All Rights Reserved.