EQTEC Faces Leadership Shakeup and Secures New Funding Amidst Strategic Reset

EQTEC plc (AIM:EQT), a waste-to-energy technology firm, announced significant leadership changes and a new funding facility, signalling a strategic reset aimed at improving capital efficiency and operational execution.

The company is streamlining operations and realigning its funding strategy to navigate challenging sector conditions.

The board is undergoing restructuring, with Ian Pearson, Tom Quigley, and Dr. Yoel S. Alemán Méndez stepping down. Dr. Alemán will remain as Chief Technology Officer. David Palumbo transitions to Executive Chairman, relocating to the UAE to focus on strategic capital formation.

James Parsons has been appointed as the new CEO, bringing AIM-market and energy leadership experience. Gerry Madden joins as non-board CFO and Company Secretary, reinforcing financial discipline.

EQTEC is implementing cost optimization measures, including streamlining operations in Spain, the UK, and France, projected to deliver up to €1.5 million in annualised savings compared to 2024. Priorities include cost reduction, stabilizing operations at reference plants in Greece, Italy, and the USA, and expanding revenue.

The company has suspended its Option Agreement with Rebel Ion, replacing it with a new funding facility of up to £1.5 million to support working capital. An initial drawdown of £300,000 is being made immediately. Rebel Ion is actively progressing the acquisition of EQTEC's secured debt to align long-term capital support with the company's growth strategy.

EQTEC is implementing a company-wide reset toward capital efficiency and execution maturity. The decision follows challenging sector-wide conditions and extensive internal review.

The new leadership structure streamlined operations and realigned funding strategy mark the beginning of a disciplined growth phase focused on delivering revenue and long-term shareholder value.

The restructured Board now comprises Mr. Palumbo as Executive Chairman, Mr. Parsons as CEO, and Brian Cole as Independent Non-Executive Director. The Company is actively seeking 2 additional Non-Executive Directors. In the interim, Brian Cole is acting as senior Independent Non-Executive Director.

EQTEC's leadership has established three immediate strategic imperatives: structurally reducing its cost base, stabilising operations at reference plants in Greece, Italy, and the USA, and expanding its revenue base. These priorities are central to the Company's renewed focus on execution maturity, capital efficiency, and IP-driven revenue growth.

The new funding facility of up to £1.5 million is provided by Global Investment Strategy UK Limited (GIS). The initial advance is £300,000. Proceeds from the Facility will be directed toward supporting ongoing working capital requirements with further drawdowns also advancing the development and commercialisation of EQTEC's integrated intellectual property.

The Company will repay the Facility and all interest, charges and fees on it in cash in full on 23 October 2026. The Company will pay interest at a rate of 10% per annum which will accrue from the date of draw down until the earlier of conversion or repayment.

Application will be made to the London Stock Exchange for admission of the 7,639,419 First Tranche Fee Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and that dealings in the new Ordinary Shares on AIM will commence at 8.00 a.m. on or around 31 October 2025.

Following Admission, there will be 648,296,557 Ordinary Shares in issue.

David Palumbo, Executive Chairman stated, “Today marks the start of a new chapter for EQTEC: more resilient, more focused, and more intentionally structured for both current market conditions and long-term value creation.”

James Parsons, Incoming CEO, commented: “I am delighted to join EQTEC at this critical inflection point, one that calls for sharper execution, tighter discipline, and a renewed focus on commercial outcomes… My immediate priority is to bring operational rigour, cost focus and capital efficiency to everything we do.”