Dotz Nano Limited (ASX: $DTZ) FY23 Financial Year Highlights

Dotz Nano Limited (ASX: $DTZ) announced its financial results for the 12 months ended 31 December 2023. The company executed a strategic acquisition of carbon dioxide (CO2) capture technology, DotzEarth, enhancing its existing nanotechnology authentication solution, DotzShield. Dotz also completed the transfer of the DotzEarth technology from Rice University and submitted a patent application covering an optimized manufacturing and scale-up process for DotzEarth. Additionally, the company raised US$2.6 (AU$4) million in August 2023 via private placement to fund growth initiatives.

Executive Commentary on FY23 Results and Outlook

FY23 was a transformational year for Dotz, reflecting the significant progress made in laying the foundation for future growth. We have executed well on our strategic priorities, integrating the DotzEarth technology into our business and securing a funding agreement with Mercer. With our strategic development partnership with SINTEF now embedded in our business, we are focused on accelerating the development and exploitation of DotzEarth. We are confident that the strategy we have in place will deliver long-term benefits for our shareholders. In FY24, we will continue our pursuit of achieving key milestones for both DotzEarth and DotzShield technologies through ongoing activities. Our primary focus is to achieve significant advancement of technology readiness maturity of DotzEarth with the establishment of a bench-scale demonstration unit to allow technology validation and ongoing optimization of the sorbent during the first half of FY24. We will also continue our discussions with leading companies in hard-to-abate industries to pursue joint development and demonstration projects.

Summary of FY23 Financial Year Highlights and Outlook

Dotz Nano Limited (ASX: $DTZ) delivered its FY23 financial results, highlighting the strategic acquisition of DotzEarth, successful completion of industrial-scale field trials for DotzShield, and the strengthening of its executive leadership team and Board. The company also secured a strategic funding agreement with Mercer to support the development of DotzEarth. Looking ahead, Dotz will continue its pursuit of key milestones for both DotzEarth and DotzShield technologies. The primary focus in FY24 is to achieve significant advancement of technology readiness maturity of DotzEarth and pursue joint development and demonstration projects with leading companies in hard-to-abate industries. Dotz remains confident in the long-term benefits for its shareholders and is committed to driving growth through its innovative climate and industrial nanotechnologies.