Eqtec PLC has agreed to sell its 95% interest in French market development center firm Grande-Combe SAS to Idex.

Eqtec, a technology firm based in London, specializes in developing distributed and decarbonized energy infrastructure using waste-to-value solutions for hydrogen, biofuels, and energy generation. Idex, on the other hand, is a France-based company focused on the development of local energy infrastructure that is carbon-free. 

As part of the transaction, Eqtec will retain a 5.0% interest and will receive EUR 750,000 (US$838,395) upon completion. Furthermore, it has the potential to receive additional payments up to the full commissioning of the France market development center, totalling up to EUR 750,000 (US$838,395). Additionally, Eqtec may incur fees for engineering services, equipment, commissioning, and licensing from Q4 2024 to Q1 2025, potentially amounting to up to EUR15 million (US$16 million).