Forgent plc (LSE:FORG) has outlined a revised strategy focused on successfully commissioning and stabilising its flagship gasification projects in Greece and at the North Fork facility in California. Management views reliable plant performance as critical to demonstrating the repeatability and bankability of EQTEC’s waste-to-energy technology.
The company is currently working closely with customer Agrigas to support operations at the Greek reference plant, while also providing extensive technical assistance at the North Fork project. At the same time, Forgent is addressing a legacy legal dispute with former tax-credit investor SCV North Fork LLC, with the matter now progressing through mediation.
Alongside efforts to stabilise its existing assets, Forgent is exploring new opportunities linked to sustainable aviation fuel production and decentralised energy systems. Potential projects are being evaluated in markets including Hawaii, where demand for off-grid and island energy solutions could create favourable conditions for the company’s technology.
Forgent is also in advanced discussions to secure technology performance insurance, which could help improve confidence among lenders and project developers. Meanwhile, the group is rebuilding its commercial project pipeline and reviewing its international joint ventures and subsidiaries, aiming to streamline operations around a smaller number of higher-quality projects and a more resilient long-term revenue base.
Despite these strategic initiatives, the company’s outlook remains constrained by weak financial performance, including ongoing losses, leverage and negative cash flow. Technical indicators also point to continued downward momentum in the share price, while valuation metrics offer limited support given the negative price-to-earnings ratio and the absence of dividend data.
More about EQTEC
Forgent plc operates under the EQTEC brand as a technology-focused energy transition company specialising in advanced gasification systems. Its proprietary technology converts waste and biomass into syngas, which can be used to generate power, heat or advanced fuels. The company targets markets including waste-to-energy, sustainable aviation fuel and decentralised energy systems, particularly in remote locations or island power grids.
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