Cork biomass firm gears up for €17 million reverse takeover

Irish biomass energy firm Eqtec – formerly React – will ask its shareholders to vote on a £15.6 million (€17.7 million) ‘transformational’ reverse takeover by Spanish firm Eqtec Iberia.

Eqtec Iberia is owned by the Spanish energy giant Ebioss, and the deal will see them reverse several of Eqtec Iberia’s major European assets into the Irish-headquartered company.

As part of the takeover, there will also be a major reshuffle of the boardroom, with ...