Eqtec Sees 2021 Revenue, Earnings On Track; Appoints New Financial Director

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The gasification technology company said it expects revenue of around 15 million euros ($17.7 million) for 2021, in line with prior forecasts, up from EUR2.2 million a year prior. The company said, subject to timely closure of opportunities and receipt of fees and payments, it expects its first full year of profit.

The company also said that over the second quarter of the year the number of pipeline opportunities moving into project development increased, and it has deployed the 16 million pounds ($22.0 million) in capital it raised in a placing on May 28 to key areas.

Write to Joe Hoppe at joseph.hoppe@wsj.com

Shares at 0715 GMT were up 0.05 pence, or 4.1%, at 1.27 pence.

Story Highlights

  • Eqtec PLC said Monday that its 2021 revenue and earnings are on track, and it has appointed Nauman Babar as finance director with immediate effect.

  • Eqtec said it has appointed Mr. Babar to succeed outgoing Finance Director Gerry Madden with immediate effect. Mr. Babar brings nearly 20 years of experience in finance-related roles.