"The Company has consistently supported the Project and our partners by amending agreements to adapt to evolving commercial realities, and we have made investment after investment to keep the Project moving forward.
"This was in the interest of developing the site for Toyota and for Flintshire with the goal of demonstrating EQTEC's advanced syngas technology for an industrial client. Logik's unwillingness since the start of the year to engage in discussions with us has jeopardised the Project and leaves us with no choice now but to protect the Company from bearing the cost of Logik's actions.
It adds: “Although enjoying a busy career in media, Andrew remains involved in Logik’s business on a day to day basis, with a particular focus on relations with our funding partners and other institutional and high net worth investors.”