EQTEC management express optimism on longer-term future of share price
London, UK
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October 10, 2023 04:14 AM Eastern Daylight Time
EQTEC PLC (AIM:EQT) CEO David Palumbo and COO Jeffrey Vander Linden speak to Thomas Warner from Proactive London about the recent downward trajectory of the clean technology company's share price.
Palumbo starts by acknowledging the challenges, emphasising that the entire board and company employees, many of whom are shareholders, feel the impact personally. He highlights that the downturn isn't unique to EQTEC, with many in their sector facing similar challenges.
He explains that the company initiated a strategy in September 2021 to transition from high-risk project development to a focus on technology, innovation, and licensing. However, the equity market's downturn in 2022 forced them to adapt quickly with limited capital.
Vander Linden discusses the company's efforts to stabilise revenues, mentioning a shift towards risk-mitigated projects with reliable partners. Both leaders expressed optimism about the company's future, emphasising strategic investments and a focus on reliable revenue streams. They believe that with consistent delivery on their strategy and milestones, the share price will gradually recover.
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