EQTEC confirms stance on North Fork Community Power project

NFCDC is a volunteer-led, not-for-profit, local, community initiative

EQTEC (AIM:EQT), a gasification technology company, felt ‘obliged’ to clarify certain issues in relation to North Fork Community Power (NFCP) project based in California.

Following a board meeting at the end of June, minutes from the meeting published onto the EQTEC website made claims with respect to NFCP and its project to build a 2MWe plant based on EQTEC technology.

The project is being designed with the purpose of locally sourcing forestry waste into power and biochar for the local community whilst reducing the risk of forest fires in the area.

The AIM-listed company said that some of the comments in the minutes gave the impression of a lack of understanding of ‘project accountabilities and contractual relationships’, and it has communicated directly to NFCDC to express its concerns.

EQTEC said it “would like to clarify that it is the technology provider to the Project and has no role or scope in relation to project management. In its role as a Managing Member and equity owner in NFCP with a vested interest in the success of the Project, the Company has consistently driven NFCP to appoint dedicated, professional Owners Representatives and Project Managers to improve discipline, focus and risk management on the Project”.

NFCDC is a volunteer-led, not-for-profit, local, community initiative formed to promote in particular the old mill site on which the project is located.

David Palumbo, CEO of EQTEC, commented:

“We remain fully committed to the North Fork community and value our relationship with North Fork Community Development Council, our fellow Managing Member for NFCP. The plant at North Fork, enabled by EQTEC’s Advanced Gasification Technology, is the beginning of our efforts to generate cleaner energy for California and reduce the risk of forest fires, through clearing out forestry waste and putting it to constructive use. It is our hope that the North Fork plant becomes another Market Development Centre (“MDC”) for us that allows us to bring our capabilities to more communities across the state.”