About Us

Eqtec plc is a company with access to a proprietary advanced gasification technology used in industrial size power plants to convert waste into synthetic gas to generate electricity.

We Are Eqtec PLC

The World Bioenergy Association (“WBA”) states that waste management is a fast growing environmental business in the world today. Its report on Energy Recovery from Waste states that the annual global waste generation accounts for 7-10 billion tonnes in total, out of which approximately 2 billion tonnes are categorised as Municipal Solid Waste (MSW). It is the intention of Eqtec to tackle this increasing problem. WBA states that the advantages of using an energy recovery from waste system are:

  • It reduces the volume of waste up to 96%
  • Production of heat and electricity along with solid waste management
  • Better sanitation, lower risk of contamination and diseases
  • It has climate change impact as producing energy from waste avoids potential emissions from landfilling

This is where we come in

Eqtec’s Gasifier Technology (“EGT”) is an advanced conversion technology which converts biomass and waste into a synthetic gas used to power gas turbines and generate electricity.

The fuel that is used in the EGT conversion process is Refuse Derived Fuel or (“RDF”).  RDF is a fuel produced from various types of wastes such as Municipal Solid Wastes (MSW), industrial wastes or commercial wastes.

In excess of 4 million tonnes of RDF is currently exported annually from the UK. The UK is currently exporting a potential energy source in RDF due to a lack of conversion capacity.

Our technology is the most efficient way to convert RDF.

Eqtec sources projects that have a local supply of waste in need of conversion. It brings together the promoters, the waste owners, the building contractors and funders and provides the technology and engineering services to the projects. It may also take an equity stake in the projects. Eqtec provides Operation & Maintenance services to the operating projects generating recurring revenues over the life of the projects.

EGT enables project developers to construct highly profitable waste elimination plants converting the waste into electrical and thermal energy. The high comparative energy efficiency of EGT versus other technologies also provides project developers with a competitive advantage allowing them to quote more competitive gate fees for the waste supply.

EGT is one of the most advanced modular gasification technologies available on the market. It offers higher efficiency compared to other generation technologies which creates a competitive advantage for Eqtec.

Eqtec Plc is listed in London’s Alternative Investment Market (“AIM”)

Corporate Governance

The Company is not subject to the UK Corporate Governance code applicable to companies with full listings on the London Stock Exchange. The Company does however intend, in so far as is practicable and desirable, given the size and nature of the business, follow the recommendations on corporate governance for AIM companies (the ‘QCA Guidelines’) issued by the Quoted Companies Alliance (‘QCA’).

The Board

The Board of Directors of the Company is responsible to shareholders for leadership in all aspects of the business. The Board comprises three members. One independent Non-Executive Director, contributes individual experience from a diverse backgrounds. Two Executive Directors are responsible for the implementation of all Board decisions and oversee the management of the Group on a day-to-day basis.

In accordance with the articles of association, one-third of Directors retire by rotation each year. Each Director must be subject to re-election at least every three years.

Role of the Board

The Company has adopted a schedule of matters reserved for consideration by the whole Board, including, for example: approval of the Group’s long-term objectives and commercial strategy; approval of the annual operating and capital expenditure budgets of the Group (and any material changes thereto); changes relating to the Group’s structure; major changes to the Group’s corporate structure; approval of the Group’s annual report and accounts; approval of the dividend policy; major capital projects; changes to the structure, size and composition of the Board; determination of the remuneration for the Directors, the Company Secretary and executive management; division of responsibilities between the Chairman, the Chief Executive and other executives of the Board; and the making of political donations or political expenditure.

The Board is also responsible for ensuring maintenance of sound systems of internal control and risk management and the Directors confirm that they continually review the effectiveness of the system of internal control, covering all material controls including financial, operational and compliance controls and risk management.

Currently, due to the small size of the Board, audit and remuneration are dealt with by the Board collectively.


The external auditors are invited to attend meetings of the Board when audit matters are discussed.

The Board has the following responsibilities in relation to audit:

Monitoring the integrity of the reported financial performance of the Group, including its preliminary results announcement, annual report and interim report;

  • Reviewing the effectiveness of the Group’s internal financial controls;
  • Reviewing the appointment and removal of the external auditors and the audit fee;
  • Monitoring the objectivity and independence of the external auditors.


The Company does not have a Remuneration Committee. The Board administers and establishes performance targets for share incentive schemes and determines the allocation of share incentives to employees.


The Company does not have a nomination committee. Any appointments to the Board are considered by the Board as a whole.

In considering the appointment of a new director, the Board identifies the characteristics, qualities, skills and experience that it believes would complement the overall balance and composition of the Board.

Relations with Shareholders

The Company believes that effective communication with shareholders is of utmost importance. It has an established cycle for communicating trading results at the interim and year end stages and, as appropriate, of providing business updates via the Regulatory News Service and press releases.

The Company makes information available through regulatory announcements and its interim and annual reports. Copies of all such communications can be found on the Company website,

The board has adopted a code for dealings in the Company’s securities by directors and applicable employees, which conforms to the requirement of the AIM Rules (Share Dealing Code). The Company will be responsible for taking all proper and reasonable steps to ensure compliance by the directors and applicable employees with the Share Dealing Code and the AIM Rules. The Company complies with the corporate governance obligations applicable to Irish registered public companies whose shares are quoted on the AIM market of the London Stock Exchange.

UK City Code on Takeovers and mergers the UK Takeover Code

As an Irish company, Eqtec Plc is not subject to the UK Takeover Code. The Company is subject to the Irish Takeover rules and mandatory bid, compulsory acquisition and buy-out provisions will apply.

Board of Directors

Gerry Madden, CEO
Gerry Madden has been in the role of Chief Executive of Eqtec plc since March 2011, having previously joined the company in May 2007 as Finance Director. He previously founded and operated a corporate finance practice between 1998 and 2007, advising UK and Irish companies on corporate finance activities and business strategy. During this period he also acted as a Non-Executive director for companies in the technology, healthcare, retail and renewable energy sectors. He originally worked for 16 years with international accountants KPMG and was auditor and adviser to listed companies, multinationals and private companies operating in Ireland and internationally. He is a Fellow of the Institute of Chartered Accountants in Ireland, a graduate of University College Cork and a Member of the Institute of Directors.

Dermot O’Connell, Non-Executive Chairman
Dermot O’Connell was Chairman of Cork Cooperative Marts and a director of Eqtec’s largest shareholder, Farmer Business Developments plc. He joined the Board as a Non Executive Director in March 2011 and appointed as Non Executive Chairman in October 2011.

Brendan Halpin, Executive Director & Company Secretary
Brendan Halpin joined Eqtec plc in February 2006 as Financial Controller and joined the Board as Executive Director in March 2011. Brendan is a Fellow of the Institute of Chartered Accountants in Ireland, having qualified as an accountant with PricewaterhouseCoopers in 1998. His current responsibilities include inter alia, finance management, project management and treasury functions.

Key Advisers

Nominated Adviser

Northland Capital Partners Limited
60 Gresham Street,
4th Floor,
London, EC2V 7BB

Joint Broker

VSA Capital Limited
New Liverpool House,
15-17 Eldon Street,
London, EC2M 7LD

Northland Capital Partners Limited
60 Gresham Street,
4th Floor,
London, EC2V 7BB


Grant Thornton
24-26 City Quay,
Dublin 2, Ireland


McEvoy Corporate Law
22 Fitzwilliam Place,
Dublin, D02 R802

Fieldfisher LLP
Riverbank House,
2 Swan Lane,
London, EC4R 3TT


Capita Corporate Registrars Plc,
2 Grand Canal Square,
Dublin 2, Ireland

Financial PR

Luther Pendragon,
48 Gracechurch Street,
London, EC3V 0EJ

Share Capital Information

At 16 March 2017, Eqtec plc’s issued Ordinary Share capital comprises 185,303,229 Ordinary Shares of €0.001 each.

Eqtec plc trades on AIM. The company has not applied to or agreed to have any of its securities (including AIM securities) admitted or traded on any other exchange or trading platform. With effect from 3 December 2010 the trading denomination of the company’s Ordinary Shares of €0.01 each changed from Euro to Pounds Sterling. Following a Capital Reorganisation in February 2017, the nominal value of the Ordinary Shares changed from €0.10 to €0.001.

All shares carry voting rights and are free of any restrictions on transferability. No shares are held by the Eqtec plc in treasury.

Eqtec plc is a public limited company incorporated and registered in Ireland and its main countries of operation are the UK and Ireland. The rights of shareholders, therefore, may be different from the rights of shareholders in a UK incorporated company.

At 16 March 2017 as far as Eqtec is aware approximately 61% of the company’s issued share capital is not in public hands as defined in the AIM Rules.

At 16 March 2017 Eqtec is aware of the following significant shareholders.

Shareholder Number of Ordinary Shares of €0.001 each % of Ordinary Shares of €0.001 each
EBIOSS Energy SE 92,701,197 50.03%
Farmer Business Developments plc 17,396,295 9.39%
Concert Party* 7,204,545 3.89%
Mike Joseph 5,559,344 3.00%

* The Concert Party includes each of EcoFinance (GLI) Limited, Alchemy Capital Limited, Origen Capital LLP, Altair Group Investment Limited (including Mr. Gabriel Quintero), Ms. Ruby Sayed, Mr. David Palumbo (including Origen Capital Partners Limited, Mr. Thomas Quigley and Mr Richard Harrop. For more information on the Concert Party, please refer to Eqtec plc’s EGM Circular dated 22 September 2015.

Last updated  16 March 2017.

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