The EQTEC PLC (LON: EQT) share price edged 6.67% higher after announcing that it had completed the steam-oxygen gasification tests conducted in partnership with the Energy from Biomass and Wastes (ERBE) team.
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The ERBE team was part of the Laboratoire d'Etudes et de Recherche sur le Matériau Bois (LERMAB) at Université de Lorraine (UL) in Epinal, France. The tests were conducted as part of the feasibility study for the Biogaz Gardanne project awarded to the Company in March 2023 by the Préfet de la Région Provence-Alpes-Côte-d'Azur in France.
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Investors cheered since the test results were similar to those of the Eqtec steam-oxygen gasification technology at the LERMAB facility. The tests provided that the same technology and processes can be applied commercially for the current project and other facilities that want to produce advanced biofuels.
Eqtec clarified that the LERMAB facility is not just a testing site. Instead, it is a miniature version of a commercial-scale plant capable of converting feedstock into synthesis gas (syngas). The LERMAB facility operates an autonomous and autothermic process that does not require an external energy source.
Therefore, the company’s commercial plants will also be able to operate without needing an external energy source. The tests had three objectives: first, to assess the feasibility of steam-oxygen gasification of Grade B waste wood; second, to validate the simulation results produced through EQTEC's proprietary simulation model in a live environment.
The test's third objective was to evaluate the quality of the syngas produced through the process before its input into the subsequent methanation process. The tests achieved all three objectives with excellent results.
Yoel Alemán, CTO of EQTEC, commented: “These tests represent an important milestone for EQTEC in our technology innovation roadmap. The development of a steam-oxygen gasification process is key to application of EQTEC syngas to generation of a diversity of offtakes, including hydrogen, methane or other biofuels (including sustainable aviation fuel or SAF), from a wide range of fuels, including biomass, refuse-derived fuel (RDF), plastics and others. There are few successful steam-oxygen gasification facilities in the world, and we believe our success with these tests puts us at the forefront of clean, waste-to-value capabilities.”
*This is not investment advice.
Eqtec share price.
The Eqtec share price edged 6.67% higher to trade at 0.16p, from Friday’s closing price of 0.15p.
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