Eqtec wins French contract, Union Jack revenue boost | MarketScreener

Eqtec wins French contract, Union Jack revenue boost | MarketScreener

(Alliance News) – The following is a round-up of updates by London-listed companies, issued on Monday not separately reported by Alliance News:

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Spectral MD Holdings Ltd – Dallas, Texas-based predictive analytics company focused on algorithms and technology that allow for fast and more accurate treatment decisions – Completes enrolment for its US Burn AI Training Study supported by the Biomedical Advanced Research & Development Authority, part of the Administration for Strategic Preparedness & Response within the US Department of Health & Human Services. Says this paves the way for the final stage of clinical development for DeepView AI-Burn. Anticipates initiating the Burn AI Validation Study in the second half of 2023.

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Union Jack Oil PLC – oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the UK hydrocarbon sector – Announces material landmark net revenues, in excess of USD14 million from the Wressle hydrocarbon development located within licences PEDL180 and PEDL182 in North Lincolnshire. Union Jack holds a 40% economic interest in this development. Says company continues to be cash flow positive covering all general and administrative, OPEX and contracted or planned CAPEX costs, including any drilling activities for at least the next 12 months. Reports at March 24, cash balances, short-term receivables and investments stood at over GBP10.5 million. Executive Chair David Bramhill said: “Encouragingly, our significant cash balance continues to expand on a monthly basis.”

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Eqtec PLC – Cork, Ireland-based gasification company focused on turning waste into sustainable energy – Awarded project in partnership with French utility company and infrastructure owner Idex, by the Limoges Metropole in Nouvelle-Aquitaine, France. Project will use engineering and technology from Eqtec in a plant able to convert up to 45,000 tonnes per year of mixed waste into up to 9 million normal cubic metres per year of renewable natural gas. Expects financial close for the pin the second half of 2024 with the plant commencing live operation in the first half of 2026. Adds company is pursuing several RNG opportunities in addition to this project.

By Jeremy Cutler, Alliance News reporter

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