Environmental Clean Technologies (ASX: $ECT) Quarterly Activity Report & Appendix 4C 31 March 2024

Environmental Clean Technologies Limited (ASX: $ECT) has released its Quarterly Activity Report & Appendix 4C for the quarter ending on 31 March 2024. The company reported advancements in the Bacchus Marsh Project, including the redesign to incorporate Agricultural Soil Improvement Product and syngas testing. Additionally, ECT secured $1.5 million in new funding via a placement to existing shareholders and new strategic investors at a premium to the last closing price prior to the capital raising.

Executive Commentary on Recent Developments

The Bacchus Marsh Commercialisation Pathway has been redesigned to incorporate Agricultural Soil Improvement Product as well as syngas testing, optimizing investment and operational efficiency. The company has also made significant progress in securing funding and partnerships, such as signing a binding MOU with ESG Agriculture to develop sustainable soil health solutions. The completion of scaled tests has provided important data for equipment modification and process improvements, indicating significant operational and cost reductions. Furthermore, the HydroMOR patent has been granted in Canada and India, adding to the company's existing patents in various regions.

Summary of Quarterly Report and Outlook

Environmental Clean Technologies (ASX: $ECT) has made substantial progress in the Bacchus Marsh Project, with advancements in plant layout, equipment design, and process improvements. The company's strategic partnerships and funding initiatives demonstrate a strong commitment to commercializing net-zero COLDry technology and developing sustainable solutions for soil health. The granting of patents in Canada and India further strengthens the company's position in the market. Looking ahead, ECT's focus on ongoing protection of existing and newly identified patent opportunities, along with the successful placement, positions the company for continued operations and the pursuit of emerging commercialization opportunities.