METALNRG PLC

Business and Financial Review • Dec 22, 2022

National Storage Mechanism | Additional information

RNS Number : 5266K

MetalNRG PLC

22 December 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

22 December 2022 

MetalNRG plc

Mechanical and electrical completion at Italia MDC

MetalNRG plc ("MetalNRG" or the "Company")  is pleased to confirm mechanical and electrical completion at its joint venture waste to energy plant in Italy near Castiglione d'Orcia, Tuscany, (the "Plant") and commercial operations date ("COD") at the Plant in early 2023.

Further to its project status update of 22 November 2022, the Company can now confirm that all mechanical and electrical components are in place and installed, with all enhancements to the Plant including the additional feeding-in system, the dryer and the thermal oxidizer added to improve the resilience of the Plant's business model.

Work at the Plant has proceeded in a timely manner, but due to supply chain delays and the late arrival of critical components, the unavailability of suppliers to support testing of ancillary equipment and weeks of severe weather at the site, final performance testing and COD will now be completed early in the New Year. The Company and the Board of EQTEC Italia MDC srl (the "SPV") have noted the significant progress made by the commissioning team which will break for holidays on 23 December and re-start work in the first week of January 2023. 

The Company will continue to provide updates on  its progress with Italia MDC.

Rolf Gerritsen commented " with the holiday season coming up and most people taking a week off work, it only makes sense to secure full commissioning of the Plant in the New Year when full support is available if difficulties should arise. I congratulate the team on site for a job well done".

END

Contact details:

MetalNRG plc Rolf Gerritsen Christopher Latilla-Campbell	+44 (0) 20 7796 9060
Corporate Broker PETERHOUSE CAPITAL LIMITED Lucy Williams/Duncan Vasey	+44 (0) 20 7469 0930
Corporate Broker SI CAPITAL LIMITED Nick Emerson	+44 (0) 1483 413500

4148-7076-0001.1

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCTBBFTMTJTBIT