Gasification technology solutions company, EQTEC plc (LON: EQT), has seen its share price rally on Thursday after the company announced it has signed a Collaboration Framework Agreement with Toyota Motor Manufacturing.
The three-year agreement is in place via EQTEC’s wholly-owned subsidiary, Logik WTE.
EQTEC’s share price has increased by 21% to 1.95p per share following the announcement.
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Through the Deeside RDF Project, EQTEC and Toyota have agreed to collaborate to explore an innovative, circular and sustainable waste-to-energy solution for Toyota’s engine manufacturing plant in Deeside.
They have entered into a Collaboration Framework Agreement to evaluate the potential supply of bio-methane gas and green electricity and conversion of manufacturing waste by sharing cost data, energy usage and other information.
The companies will assess the ability to develop a project at Toyota’s plant in Deeside, and if adopted, EQTEC’s said its waste-to-energy solution could reduce the carbon footprint of the Toyota site on an annual basis.
“This partnership further demonstrates the capabilities and applications of EQTEC’s advanced gasification solutions and enhances our already strong pipeline of projects in development,” said EQTEC CEO David Palumbo.
Should you invest in EQTEC plc shares? EQTEC shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are EQTEC shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
