Eqtec PLC, an Ireland-based waste-to-energy recycling company, has secured a EUR 2.9 million (~ USD 3.11 million) credit facility to refinance its Italy Market Development Centre (MDC). The loan was provided by Banca del Fucino, an Italian banking group, and has a guarantee of up to 80% from MedioCredito Centrale of the Italian Ministry of Economy.
The facility is available for 48 months, with an annual interest rate of 2.5% over the six-month Euro Interbank Offered Rate (Euribor), contingent upon the MCD plant meeting certain performance criteria set by the lender.
Founded in 2005, Eqtec is an LSE-listed company that designs and supplies waste-to-value solutions using its proprietary and patented advanced gasification technology. Its plants are equipped to convert multiple types of biomass feedstock into electrical power and thermal energy.
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