Corporate and Funding Update

EQTEC PLC

24 November 2025

 

24 November 2025

EQTEC plc

("EQTEC" or the "Company")

Corporate and Funding Update

EQTEC plc (AIM:EQT), a provider of syngas technology and engineering services for clean conversion of waste into sustainable energy and biofuels, announces the following update.

Funding and Debt Update

As previously disclosed, and in line with broader market conditions impacting technology providers within the clean energy sector, the Company continues to face challenging trading and funding environments. As at the date of this announcement, the Company has total corporate debt of approximately £6.1 million, comprising: (i) a £5.1 million bullet loan due for repayment on 30 December 2027; (ii) a £0.7 million convertible loan now due for repayment; and (iii) a remaining balance of £0.25 million under the convertible loan facility announced on 24 October 2025 ("CLF"). The Board cautions that the Company needs to secure additional funding to meet its short-term working capital obligations. The Company has drawdown an additional £60,000 from the CLF while  continuing to explore strategic funding options and will update shareholders as appropriate.

As previously announced on 6 October 2025, Mr. Didier Casimiro became the ultimate beneficial owner ("UBO") of Rebel Ion Limited (previously Compact WTL Tech Limited) ("Rebel Ion") and therefore became indirectly interested in a significant shareholding in EQTEC.  A core strategic priority for the Company is the progressive de-leveraging of its capital structure. In line with this priority, the Company, together with Mr. Casimiro and its existing lenders, have been engaged in ongoing discussions. The Company has reached a preliminary, conditional and non-binding agreement with Rebel Ion and the lenders that, subject to a simultaneous successful equity raise, Rebel Ion will acquire both the £5.1 million bullet loan and the £0.7 million convertible loan from the existing lenders and that, upon completion of the novation of the debt from the existing lenders, Rebel Ion will fully convert the £0.7M convertible loan into equity, agree not to dispose of the resulting equity for a period of 12 months and extend the maturity of the £5.1M bullet loan to December 2030. Rebel Ion has indicated that it would be willing, subject to regulatory and feasibility considerations,  to make a portion of its debt purchase available to new equity subscribers, proportional to their equity contribution. In the event that the Company and Rebel Ion are able to conclude the arrangements as broadly set out above to the satisfaction of the Board, and subject to the Company securing sufficient additional funding and securing a favourable independent related party opinion, it is expected that the Company would agree to cancel the Option Agreement entered into by the Company with Rebel Ion on 1 June 2025.  

The existing lenders, Rebel Ion and the Company are currently preparing the relevant transaction documentation, and the Company cautions that there can be no certainty that the proposed funding package will be concluded.   

To facilitate the finalisation of the documentation, the Company has obtained a standstill until 31 December 2025 with the existing lenders of the £0.7M convertible loan.

Further announcements will be made as appropriate.

This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended, and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.

ENQUIRIES  

EQTEC plc  James Parsons	[phone]
Strand Hanson - Nomad & Financial Adviser  James Harris / Richard Johnson	[phone]
Global Investment Strategy UK Ltd - Broker   Samantha Esqulant	[phone]

About EQTEC 

EQTEC is one of only a few circular economy technology providers able to address the dual challenges of growing quantities of global waste and the growing demand for energy and biofuels. EQTEC cleanly converts waste into a range of valuable commodities that support new energy and industrial infrastructure. With one of the world's most experienced thermochemical conversion technology and engineering teams, EQTEC provides bespoke waste management and new energy solutions through best-in-class innovation, infrastructure engineering and value-added services for developers, owner-operators and industrials.

EQTEC's end-to-end process solutions are in demand from around the world with highly efficient equipment that is modular and scalable from three tonnes of waste per hour. Its versatile solutions process dozens of varieties of feedstock, including plastics, mixed municipal waste, industrial waste and other non-recyclables, all with no hazardous or toxic emissions, producing a wide range of valuable commodities including synthesis gas ("syngas") electricity, heat and steam, synthetic natural gas, hydrogen, liquid fuels or other chemicals.

The Company is quoted on the London Stock Exchange's Alternative Investment Market (AIM) (ticker: EQT) and the London Stock Exchange has awarded EQTEC the Green Economy Mark, which recognises listed companies with 50% or more of revenues from environmental/green solutions.

Further information on the Company can be found at www.eqtec.com. 

 

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