Gasification solutions company EQTEC has signed a collaboration agreement with Wood, a consulting and engineering company in the energy and the built environment spaces.
Despite markets sliding on Friday, EQTEC shares hit a high of 1.55p on the news but currently sit at 1.376p, up 3.78%.
The deal will see EQTEC and Wood pursue collaborative development and deployment opportunities for clean, waste-to-synthetic natural gas and waste-to-hydrogen solutions projects.
The companies told investors they want to support the drive to net-zero and lead innovations in the emerging markets for renewable SNG and hydrogen.Â
Accordingly, they will aim to expand the availability and application of EQTEC's Advanced Gasification Technology and synthesis gas production into new markets, combined with Wood's VESTA methanation technology, engineering capabilities, and scale capacity.Â
Jeff Vander Linden, COO of EQTEC, explained: “The markets for SNG and hydrogen are maturing rapidly. EQTEC's unique capabilities in producing high-quality syngas have always positioned us well as a supplier of intermediate fuel for both applications.Â
“This collaboration agreement with Wood is an important start to our entry into these growth markets. Wood's teams are among the very best at what they do, and we are excited to have the opportunity to work shoulder-to-shoulder with them to bring our waste-to-syngas capabilities to new solutions in more geographies.”
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