EQTEC has provided an update on the shareholding of the Italia Market Development Centre (MDC) following financing changes to the project. In order to access the €2.9m loan secured for the refinancing of the project from a local bank, certain performance improvements to the plant were first required. The works are due to complete in Q4 2023 and have been funded by Quainstone Limited and EQTEC, two of the four shareholders in the plant and this has changed the overall shareholdings in the project, with EQTEC’s stake increasing from 19.99% to 38.3%. Whilst the increased shareholding involves additional investment when the company is moving to an asset light model the company will continue to need the MDCs to display their advanced gasification technology. We see this as a short-term capital injection for the Italia MDC to ensure its success as a standalone entity in the longer term.
