Environmental Clean Technologies (ASX: $ECT) Placement Announcement

Environmental Clean Technologies Limited (ASX: $ECT) has successfully secured binding commitments from sophisticated investors for a $1.5 million placement at $0.005 per share. This represents a 25% premium to the last traded price of $0.004, demonstrating strong investor confidence. The capital infusion, achieved through the issue of 300,000,000 fully paid ordinary shares, will primarily support development works at the Bacchus Marsh production facility and facilitate the evaluation of several emerging commercialisation opportunities.

Executive Commentary

The strong backing from both existing and new shareholders, especially in challenging market conditions, underscores the significant progress made by ECT and the growing investor interest in our net zero and carbon negative process. ECT remains focused on executing its 'race to revenue' strategy, aiming to establish a revenue stream from the Bacchus Marsh plant. Additionally, this project presents an opportunity for ECT to conduct a Syngas pilot project, validating net zero, carbon-negative energy feedstock. We're committed to advancing our three pillars: agriculture products, net zero and carbon-negative energy feedstock, and industrial applications.

Summary of Placement and Future Plans

The successful completion of the $1.5 million placement at a 25% premium to the last traded price reflects strong investor confidence in Environmental Clean Technologies Limited (ASX: $ECT). The raised funds will be allocated towards advancing development at the Bacchus Marsh plant, securing supply and offtake agreements, exploring additional market opportunities for ECT's products, and providing additional working capital. With a focus on executing its 'race to revenue' strategy, ECT aims to establish a revenue stream from the Bacchus Marsh plant and pursue partnership opportunities for its net zero carbon negative technology suite and range of high-value, in-demand products. The company's commitment to advancing its three pillars: agriculture products, net zero and carbon-negative energy feedstock, and industrial applications, positions it for future growth and development.