Result of WRAP Retail Offer

9 September 2024

EQTEC plc

("EQTEC", the "Company" or the "Group") 

Result of WRAP Retail Offer

EQTEC plc (AIM: EQT), a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation is pleased to announce, further to the announcements of 4 September 2024 of the Fundraise, the completion of the WRAP Retail Offer at the Issue Price. The WRAP Retail Offer, which closed at 4:30 p.m. on Friday 6 September 2024, has raised gross proceeds of £72,528.15 through the issue of a total of 7,252,815 new Ordinary Shares to existing retail shareholders in the United Kingdom.

The Fundraise, which is conditional on Admission, has raised gross proceeds of, in aggregate, £1,172,528.15 via the issue of 110,000,000 new Ordinary Shares pursuant to the Placing and Subscription and 7,252,815 new Ordinary Shares pursuant to the WRAP Retail Offer.

Use of Proceeds

The net proceeds of the Fundraise, along with the Company's existing cash resources, will be deployed for general working capital purposes and to accelerate the implementation of its strategy.

Admission of WRAP Retail Offer shares and Total Voting Rights

Application is being made for the 7,252,815 new Ordinary Shares pursuant to the WRAP Retail Offer, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings on AIM is expected to commence on or around 13 September 2024.

On Admission of the 7,252,815 WRAP Retail Offer Shares (together with the 110,000,000 Fundraise Shares, 52,200,000 Conversion Shares and 7,711,059 Supplier Shares, as announced on 4 September 2024), the Company's issued share capital will consequently consist of 434,774,785 Ordinary Shares, each with one voting right.  There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 434,774,785 and this figure may be used by shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Unless otherwise defined herein, all defined terms used in this announcement shall have the meanings ascribed to them in the Company's announcements of 4 September 2024.

ENQUIRIES 

About EQTEC

As one of the world's most experienced thermochemical conversion technology and engineering companies, EQTEC delivers waste management and new energy solutions through best-in-class innovation and infrastructure engineering and value-added services to owner-operators. EQTEC is one of only a few technology providers directly addressing the challenge of replacing fossil fuels for reliable, baseload energy. EQTEC's proven, proprietary and patented technology is at the centre of clean energy projects, sourcing local waste, championing local businesses, creating local jobs and supporting the transition to localised, decentralised and resilient energy systems.

EQTEC designs, specifies and delivers clean, syngas production solutions in the USA, EU and UK, with highly efficient equipment that is modular and scalable from 1MW to 30MW. EQTEC's versatile solutions process 60 varieties of feedstock, including forestry waste, agricultural waste, industrial waste and municipal waste, all with no hazardous or toxic emissions. EQTEC's solutions produce a pure, high-quality synthesis gas ("syngas") that can be used for the widest range of applications, including the generation of electricity and heat, production of renewable natural gas (through methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid processing) and reforming of hydrogen.

EQTEC's technology integration capabilities enable the Group to lead collaborative ecosystems of qualified partners and to build sustainable waste reduction and green energy infrastructure around the world.

The Company is quoted on the London Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.

Further information on the Company can be found at www.eqtec.com.