The EGM was due to be held at Level 21, 55 Collins Street, Melbourne, Vic.

Due to the restrictions imposed by the Victorian government in connection with the recent COVID-19 outbreak, the Company is no longer permitted to hold the EGM at this venue. The EGM will now be held at the offices of Cornwalls, Level 10, 114 William Street, Melbourne, VIC.

In order to prioritise the health and safety of the Company’s members, personnel and other stakeholders, the Board has determined to also facilitate participation in the EGM online via Zoom and STRONGLY ENCOURAGES all shareholders to consider attendance at the EGM in this manner (rather than by in person physical attendance).

All shareholders who wish to attend and participate in the EGM (either by physical attendance or online via Zoom) are required to register below.

Physical Attendance - Registration

The physical attendance cap has been reached. If you wish to attend the EGM, you will need to do so online by filling in the online registration form at the link below. Shareholders who have not registered, will not be permitted access to the venue in accordance with COVID restrictions.

Online Attendance - Registration

Online attendance is available to all shareholders. To register, please click the button below. You will need your shareholder identification number (SRN/HIN).

Virtual EGM Guide

  1. Participate and vote in the online Virtual EGM
  2. Vote before the EGM

1. Participate and vote in the Online Virtual EGM

Getting started

  1. Download the Zoom App onto your smartphone or mobile device. This can be downloaded from the Google Play StoreTM or the Apple® App Store by searching by the app name “Zoom”; or
  2. Download the Zoom App on your computer. Download it here.

Joining

  1. You will need to register to join our Virtual EGM.
  2. To register, you will need to provide you Holder Identification Number (HIN) or Shareholder Registration Number (SRN), in addition to your name, address, phone number and email.
  3. Following registration, an email with the link to join our Virtual EGM will be sent to you by Thursday 24 June 2021.
  4. To join the Virtual EGM, click or tap on the link in the registration email you'll receive prior to the EGM.
  5. If you don't already have the 'Zoom' application installed, you may be prompted to download and install it.
  6. If prompted, login using the passcode provided in the confirmation email.

Navigating

  1. Once you're logged in you can view the EGM proceedings
  2. The Zoom app has the following functionality:
    • Video - see and hear the speakers and presentation
    • Ask Questions using the Q&A feature
    • Vote on resolutions
  3. By default, all attendees will have their audio and video muted. Only the Chair will be visible or audible.

To vote

  1. The meeting will proceed to put each resolution to a vote before moving on to the next.
  2. The Chair will read the resolution and call for questions prior to voting.
  3. When the Chair declares a poll open, a screen will appear with the resolution and voting choices - 'for' or 'against'.
  4. Select the option corresponding with the way in which you wish to vote, then press 'submit'.

To ask a question

  1. Select the Q&A button on the screen.
  2. Compose your question as concisely as possible.
  3. Select the send icon.
  4. Close the Q&A window to return to the main webcast.

2. Voting before the EGM

Submit your votes electronically

Submit your votes by mail or in person

Environmental Clean Technologies Limited (ASX:ECT) is pleased to announce its selection as a finalist in the Excellence in Innovation category for the Australia-India Business and Community Awards (AIBCA).

The annual India Australia Business & Community Awards have been a flagship event in the Australian-Indian business events calendar since 2013.

IABCA raises awareness of Indians in Australia and Australians in India, in a way that encourages further growth in relations between the two countries.

The IABCA initiative directly contributes to the Australia-India objectives of promoting a broader and deeper relationship between the two countries providing a platform for recognition of these success stories to Indian decision-makers.

The Awards feature high-profile patrons including Australia’s Prime Minister, Malcolm Turnbull and India’s Consul General to Australia, Dr Gondane.

This Excellence in Innovation award recognises a start-up or business that has exercised innovation in contriving a new and unique business model. This category is also open to established businesses who have shown innovation by introducing a novel product or service, or by executing an innovative policy or strategy to generate a competitive advantage.

Finalists Showcase Friday 31 August 2018

The Finalists showcase event with fellow finalists, dignitaries, parliamentarians and the IABCA panel will be hosted on Friday 31 August at an intimate invite-only event at the Australian National Maritime Museum in Sydney.

Winner to be announced on Friday 12 October 2018

IABCA winners will be revealed on Friday 12 October at the Gala event at Brisbane City Hall in the presence of His Excellency, Dr Gondane, High Commissioner of India to Australia.

ECT Chairman Glenn Fozard, who will be representing the Company at both events, commented “It’s an honour to be selected as a Finalist for this year’s award. We’ve worked hard to build relationships at the highest levels within two of India’s leading PSU’s and look forward to taking our innovative Coldry-Matmor project forward with them.

“Platforms such as the AIBCA help recognise that effort and promote it to a broader audience.”

Details on the awards are available at https://www.iabca.com.au/.

 

For further information, contact:

Glenn Fozard – Chairman          [email protected]

Event: The Global Steel Innovations Forum

Location: Dubai, UAE

Date: 25-27 September 2018

Linkhttp://www.steelvia.com/

ECT India Chairman & Managing Director Mr Ashley Moore will be presenting in conjunction with Ms Aditi Tarafdar, Technical Director at the India-based engineering firm, MN Dastur.

ECT has engaged MN Dastur to lead and deliver the basic engineering and design package for the integrated Coldry-Matmor R&D project with partners NLC India Limited and NMDC limited.

Mr Moore and Ms Tarafdar will introduce steel industry delegates to the worlds first lignite-based primary iron making process, highlighting its competitive advantages, the pathway to commercialisation and its potential in India and abroad.

The value proposition for Matmor is characterised by two distinct advantages:

  1. Alternative raw material opportunity
  2. Lower plant cost

The ‘alternative raw material’ opportunity

There exists a vast, ‘above ground ore body’ in the form of iron ore mine fines and slimes, and industrial wastes such as mill-scale and nickel refinery tailings.

Current processes can’t utilise fines and wastes without expensive pre-processing. Matmor liberates this resource in an efficient, cost-effective manner.

Matmor enables a lower cost primary iron production pathway by leveraging two unique features:

1) Decoupling iron making from coking coal
By utilising the rich organic chemistry within low-rank coal, the Matmor process utilises a different chemical pathway to deliver a high-quality iron product without the need for high-quality coking coal, resulting in decreased raw material cost and diversified supply options for customers.

2) Exploiting the ‘above-ground ore body’
By harnessing the vast ‘above ground ore body’ that exists as mine tailings, fines and slimes and from industrial wastes such as mill-scale and nickel refinery tailings, Matmor is able to leverage sunk mining and processing costs by providing a waste remediation solution that turns a contingent liability into a revenue stream.

Tailings storage locks up significant swathes of valuable land. Matmor minimises waste, releasing land for productive use and alleviating the environmental burden imposed by waste storage.

It is estimated that India has stockpiled ~100 million tonnes of such mine tailings, with current mining resulting in ~30% of mineral extraction adding to the stockpile annually.

Lower Plant Cost

Abstract: The Coldry technology is a patented brown coal densification and pelletisation process that changes the naturally porous form of brown coal to produce a dry, dense, energy-rich pellet. Coldry technology will be utilized in the integrated demonstration plant as an efficient pelletisation process to supply composite Iron ore and lignite pellet feed for the Matmor process. Matmor is a technology for the production of High-Quality DRI. The process operates at relatively low temperatures and is highly energy efficient. Utilizing novel reduction chemistry, the Matmor process has a favourable carbon intensity generating significantly lower CO2 emissions and a substantially lower water consumption while still producing high-quality DRI compared with conventional Iron making technologies. Given the utilization of low-rank coal and iron ore fines and reduction of CO2 emissions, feasibility studies indicate promising project economics with both CAPEX and OPEX advantages.

 

Earlier this week, ECT Chairman Glenn Fozard delivered a presentation on our world-first India project.

Hosted by Financial News Network, the presentation provides an introduction to the project, our partners and the driver behind the uptake of our Coldry and Matmor technologies.

The presentation was followed by a one-on-one interview providing further insight for investors.

Please click the link below to view the presentation and interview.

Link: Introducing Australia largest ever R&D collaboration with India

 

Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) is pleased to announce the signing of the Project Agreement with NLC India Limited (NLCIL) and NMDC Limited (NMDC) for the largest-ever joint R&D collaboration between Australia and India.

Key points:

Photo (from left): Mr V. Manoharan (Chief of NLCIL’s Centre for Applied Research and Development), Mr P. Selvakumar (Director Projects & Planning, NLCIL), Mr Ashley Moore (Chairman-Managing Director, ECT India), Mr Glenn Fozard (Chairman, ECT), Dr N.K. Nanda (Director – Technical, NMDC) and Mr Rajan Kumar (General Manager – R&D, NMDC).

 

Further to recent announcements in the lead up to today’s Signing Ceremony, senior executives and Directors from NLCIL, NMDC and ECT executed the Project Agreement in the presence of His Excellency, Dr A.M. Gondane and representatives from the Australia India Business Council.

The ceremony, led by ECT Chairman Mr Glenn Fozard, featured speeches by the Mr P. Selvakumar, Director (Projects & Planning) at NLCIL, Dr Narendra K. Nanda, Director (Technical) at NMDC and Mr Ashley Moore, Chairman-Managing Director of ECT India.

Mr Fozard commented “We’ve spent the past four years building the relationship and crafting the process with NLCIL and NMDC in India with the aim of  taking our two technologies – Coldry and Matmor – through the scale up process and, if successful on to commercial deployment.

“Today marks a significant milestone on the journey which, all going to plan, will see the commissioning of our Coldry-Matmor pilot plant in India by the end of 2019.”

During the ceremony NLCIL’s Director of Projects and Planning Mr Selvakumar noted, “We want to use our lignite for alternative purposes. We want to dry the lignite. Coldry is a good technology for transforming lignite. When discussing lignite use with NMDC, we saw the opportunity to work together to achieve iron ore reduction as well, adding higher value to our resource through new applications.”

“We look forward to a successful project for the betterment of India.”

Dr Nanda, Director (Technical) of NMDC added, “We are standing here on this auspicious day to sign this agreement to build the pilot plant. If the pilot plant is successful, it can be taken to commercial scale.”

“We wish the project great success for all companies and both countries.”

His Excellency, Dr. Gondane (below, second from right) was quick to add his support to the collaboration, noting the importance of the project to addressing the challenges faced by India.

Photo (from left): Mr Ashley Moore (Chairman-Managing Director, ECT India), Mr P. Selvakumar (Director Projects & Planning, NLCIL), Mr Glenn Fozard (Chairman, ECT), Dr Gondane (High Commissioner for India in Australia) and Dr Narendra K. Nanda (Director – Technical, NMDC).

 

Next Steps

The Project Agreement sets out the agreed terms for detailed sub-agreements. These include a Master Technology Licence Agreement, Tripartite Collaboration Agreement and NLCIL, NMDC and ECT Services Agreements.

Following execution of the detailed sub-agreements the commencement of project works will be funded and able to commence.

The parties are on track to deliver these agreements by the end of August and look forward to providing further updates as activities progress.

Background

The agreement sees the commencement of the next stage of development for ECT’s two proprietary technologies:

The project entails two phases, commencing with an AUD 35 million R&D phase funded by the Indian partners, which aims to scale-up ECT’s Matmor and Coldry technologies to deliver an integrated pilot plant capable of producing ~2 tonnes of metal per hour.

Following successful R&D outcomes, phase two involves commercial expansion, targeting an integrated steelmaking facility with a proposed capacity of 500,000 tonnes per annum and an estimated cost of AUD 300 million.

The partners will then assess opportunities for global commercial expansion based on market assessment at that time.

For further information, contact:

Glenn Fozard – Chairman          [email protected]

 

Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) is pleased to provide the following update on the forthcoming visit to Australia by its India Project partners NLC India Limited (NLC) and NMDC Limited (NMDC), in addition to updates on relevant supporting activities.

Key points:

Indian Partner Visit – Week commencing 21 May 2018

Further to the Company’s announcement of 29 March 2018 confirming the visit dates for next week, there has been a recent shift in timing to accommodate an additional travel requirement by NMDC personnel.

ECT India Chairman and Managing Director, Ashley Moore commented, “NMDC has other interests in Australia and sought to combine the two commitments. As such, in responding to an official invitation from ECT Chairman Glenn Fozard, NMDC has requested that the visit be scheduled for the week commencing 21 May.

“The Master Project Agreement (MPA), which the parties intend to formally sign during the visit, represents India’s largest ever government-backed joint R&D Project with an Australian company; a milestone for both India and Australia in demonstrating positive support and bi-lateral benefit under the Australia-India Comprehensive Economic Cooperative Agreement (AICECA).

“The Australian High Commission in India, together with Austrade and AusIndustry have provided invaluable advice, support and assistance to ECT over the past three years, garnering Indian Government support for the Project at cabinet level.

“Part of our planning for the visit has entailed seeking government meetings in recognition of the role they’ve played in supporting ECT in the development of our technologies and specifically in the formation of our project in India. Next week’s Federal budget activity was proving problematic, limiting the availability of relevant Ministers, so the shift in visit dates has the additional benefit in allowing us to skip budget estimate activity next week, with the new timing to coincide with Parliamentary sitting dates. This may improve our chances of coordinating high-level meetings in Canberra to witness the MPA signing.”

The visit will also entail a tour of the Company’s R&D facility northwest of Melbourne, official meetings with ECT Company Executives and Board members, and potential meetings with State and Local Government officials in Victoria, subject to availability.

Master Project Agreement (MPA) remains on track

Consistent with previous announcements the parties remain on track to meet their mutually agreed target of reaching Project financial close by 30 June 2018.

This entails:

The Company will continue to provide updates should circumstances change.

India Project – Basic Design

On 23 March 2018, the Company announced the completion of the basic design package for the Matmor component of the India Project.

The Company is pleased to advise the completion of the next milestone, the basic design package for the Coldry component.

The completion of the Coldry basic design includes integration with the Matmor component, in addition to the broader site layout and allows the project to proceed to detailed design, ahead of fabrication, construction and commissioning, which is scheduled to take approximately 12 months following financial close.

 

The above diagram shows the intended layout of the Integrated Coldry-Matmor plant adjacent to NLC’s power station, including raw material storage and provision for future expansion.

The India Project consists of an R&D phase (pictured above), followed (upon success) by a commercial phase. The aim of the R&D phase is to deliver a pilot scale demonstration of ECT’s two leading technologies under development; ‘Matmor’ and ‘Coldry’.

Following commissioning, the integrated Coldry-Matmor pilot plant will execute a detailed test program to generate performance data, optimise operational parameters and inform the scale-up of the technologies.

For further information, contact:

Glenn Fozard – Chairman          [email protected]

Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) is pleased to provide the following update on the progress of its activities in India in support of its world-first technology project with partners NLC India Limited (NLC) and NMDC Limited (MNDC).

Key points:

Picture: Left to Right: Dr V Sekar,, HIL Director Finance; P.S.R.K. Shastry, Northern Coalfields Director Finance; Sarat Kumar Acharya, CMD NLC; Rakesh Kumar, Director Finance NLC; Glenn Fozard, Chairman ECT

 

Left to right: Ashley Moore, CMD of ECT India and Jim Blackburn, COO of ECT.

ECT Chairman Glenn Fozard joined Ashley Moore (CMD, ECT India) and Jim Blackburn (COO, ECT) in Neyveli, southwest of Chennai, India this week in support of finalising the previously announced independent financial review of its Integrated Coldry-Matmor demonstration-pilot project which will inform the final structure under the associated Master Project Agreement (MPA).

During the visit, NLC graciously hosted the ECT team as VIP guests to their 2nd Finance and Corporate Governance event.

The 2nd F&CG event included presentations by pre-eminent Indian experts in accounting, law and finance and highlights the pace at which Indian business is adopting global best practise standards in response to the fast pace of Government reforms on taxation and companies law.

CMD of ECT India (ECTI), Ashley Moore, commented, “The independent financial review team are undertaking a thorough assessment of Indian tax and legal issues and their application to the proposed project structure. We are confident that while the change in sequence we previously noted (see announcement 20 Dec 2017) has seen the deadline for completion of the Report extended to the end of February, the front-ending of these considerations is intended to ensure we meet our targeted date for financial close by 30 June 2018.

“The current legal and tax review activity is being well-supported by our local tax advisers, Grant Thornton and legal advisers, IndusLaw and their dedicated commitment to solving complex tax and legal challenges has allowed ECT to refine the proposed structure, eliminating some structural complexity and improving tax management.

“This process has re-shaped the project structure into a form that is built for a long-standing and sustainable relationship between the project partners.”

Glenn Fozard commented, “It was reassuring to see the pace at which NLC is adopting global best practice whilst maintaining a strong connection to compliance and governance. The fruits of these changes are borne out by the best financial performance by the company since inception, in the last reporting period.”

In associated news, NLC Chairman Sarat Kumar Acharya spoke with Indian news outlet The Hindu Business Line about his company’s ambitions to grow capacity to 20,000 MW by 2025.

The article went on to talk about NLC’s ‘rejuvenated R&D forays’, including our project:

But more than these, NLC’s thrust into the future manifests itself in terms of rejuvenated R&D forays.

Acharya speaks of carbon capture and storage and underground coal gasification, but these are for the deep future; for now, the company has two projects whose impact might be felt in the medium term. For instance, an agreement is to be signed any time now with an Australian company called Environmental Clean Technologies…”

This media mention is consistent with past updates and the Company looks forward to providing further information on the progress of the review by NITI Aayog as it develops.

For further information, contact:

Glenn Fozard – Chairman          [email protected]

Links:

 

 

Hyderabad, India: ECT India Chairman and Managing Director, Ashley Moore attended the 'Inaugural Function of the Diamond Jubilee Year Celebrations' hosted by NMDC today.

The invitation-only event, which celebrates NMDC's 60th year, was held at the Shilpakala Vedika Convention Centre and included high-level Indian government representatives.

NMDC is the largest iron ore miner in India and the 8th largest globally, mining ~34 million tonnes in 2016-17.

Mr Glenn Fozard - Chairman

As has been the tradition in previous years, I’d like to take a quick review of our 12 month goals stated at last year’s AGM. These included:

  1. Commence construction of our first large project in India
  2. Complete designs and upgraded patents for Matmor
  3. Finalise feasibility for the second project
  4. Achieve first earnings from commercial contracts associated to the application of our technology.

Our India project has been frustratingly slow for a whole range of reasons we have mentioned in prior announcements. We recognise the drag this is having on positive momentum but re-state out commitment to delivering this project. India is not a flash in the pan. Its core to the strategic delivery of a global project platform.

To that end, former Managing Director, Ashley Moore is now dedicating himself to this project to give it the resources needed as we head into an unprecedented period of overseas activity. The current review being undertaken for the benefit of NITI Aayog is proceeding well due to the close support of both Ashley and Jim in India.

I’ll defer further comment on India to Ashley within his presentation.

Goal 2, the completion of designs and upgraded patents for Matmor, was successfully delivered on-time and as per the recent announcement, the HydroMOR international patent has now been submitted. This patent will provide ECT with an appropriate level of protection in delivering our Matmor projects and represents the culmination of our improved engineering knowledge and R&D programs designed to support our commercialisation strategy. Additional novel discoveries are also leading us to develop other innovations that stem from for our family of core technologies, like COHGen. We intend to move COHGen along the commercialisation pathway by submitting a provisional patent shortly.

Goal 3, ‘finalise feasibility for the second project’, has seen us nearing completion of the scoping study for a Coldry plant located in the Latrobe Valley, including selection of a site, being Yallourn Power Station owned by Energy Australia. This project will receive greater resource support over the coming 6-8 weeks, as we develop the pre-feasibility and identify the funding structure that will deliver the project through to completion.

Both Goal 3 & 4 have also been supported by the necessary upgrades of the Bacchus Marsh High Volume Test Facility.  The use of this facility is critical to support product, process & project development as well as be able to produce merchantable product in its own right.  Further upgrades are being considered, although CAPEX decisions to support this will only be made where clear project or commercial drivers are apparent.

Specifically, on Goal 4, whilst we have delivered revenues related to the trials we have undertaken over the year, we recognise the need to increase these to a level that will allow us book significant operational revenues with the ultimate aim of becoming self-funding.

The previous year has been one of significant effort for ECT, with this year’s objectives guided by the following themes:

  1. Evidence of Adoption - Apply our technology to commercial projects
  2. Secure the Value - Improve our development and protection of our technology
  3. Demonstrate the Value - Reach operational revenues to underpin the economic sustainability of 1) & 2)

Consistent with our 3-year strategic plan, our objectives cover:

  1. Commercialisation
    • Commercialise the Coldry Platform
    • Commercialise the Matmor Platform
  2. Innovation and Market Development
    • Continual Development and Leverage of Existing Platforms
    • New and Evolving Technologies and Markets
  3. Corporate Capacity and Capabilities
    • R&D Program management & administration
    • Capital, Finance and Resource Management
    • Communications, Marketing and Stakeholder Engagement
    • Governance, Risk and Compliance

This has manifested in the following key result areas:

  1. Progressing our Indian project
  2. Improving large-scale R&D capability and processing efficiency at our Bacchus Marsh facility
  3. Developing markets with near-term revenues for our products and projects
  4. Restructuring the organisation and right-sizing roles and responsibilities

These key result areas (KRA’s) and the relevant Key Performance Indicators (KPI’s) of each staff member, give us the day to day focus as we embark on the challenge of meeting our strategic objectives.

Indian integrated Coldry-Matmor project

Your Board and management are keenly aware of the desire for increased progress resulting from the additional time taken to progress towards the NITI Aayog review this past half year.

In February, as we were finalising the legal review of the Master Project Agreement (MPA) and reviewing personnel availability for a signing ceremony, we were referred to India’s national planning committee, NITI Aayog by the newly appointed Secretary of the Ministry of Coal, Mr Susheel Kumar.

This additional layer of process increased the political profile of the project, and in doing so necessitated an independent, external review, funded by our project partners, ahead of signing the Master Project Agreement (MPA).

This level of probity requirement was not expected by our partners and has resulted in delays in the progress of the project. Based on recent guidance from our partners, the independent, external review that we hope will culminate in NITI Aayog approval is estimated to be complete in coming weeks, and we remain committed to the delivery of this key project. Strategically, the India project is the launch pad for our global commercialisation roll-out and a highly prospective market for Coldry and for Matmor in its own right.

We have often quoted the 3 P’s when working in India – Patience with Polite Persistence.

It’s timely we remind ourselves of this approach while recognising an increased need in the level of Persistence and introducing a 4th P – Progress.

Your Board recognises the need for heightened focus and resourcing to support the progress of this project, leading to former Managing Director, Ashley Moore to take the role as CMD (Chairman & Managing Director) of ‘ECT India’, releasing him from responsibilities in managing ECT’s operations.

We expect that having our most experienced engineer dedicated to the progress of the India project will maximise the delivery of our objectives.

Bacchus Marsh High Volume Test Facility (HVTF)

Our facility, located 50km northeast of Melbourne on the outskirts of the town of Bacchus Marsh, has been the focus of our fundamental and applied research and development for both Coldry and Matmor since 2006.

Its importance has grown over the past year, with continual testing and improvement of our technologies. Our facility not only allows us to generate new knowledge, it also allows us to do this in an environment where we have a high level of control and protection over the test work that leads to new discoveries and future value.

Our Coldry facility has been re-engineered to be productive and efficient enough to provide the closest approximation we can currently achieve at small scale, of a commercial application of Coldry, with the intention that the resultant product from our research and development activities is able to be sold as solid fuel into end-user demonstration projects and other commercial customers.

Progress with the Bacchus Marsh plant and the subsequent delivery of our R&D programs ensure that the intellectual property that we currently have under patent protection will be rigorously tested and continually improved.

Our technology suite features vertical and horizontal integration across our proprietary processes and equipment. This approach is intentional, allowing us to develop further intellectual property within the protective framework of our pre-existing technologies and know-how.

The Bacchus Marsh HVTF provides the essential infrastructure and apparatus to further develop and refine our intellectual property through on-going R&D as well as prepare for, and support, data collection and project-specific designs for future demonstration and commercial projects.

Initially (pre- 2010) our IP protection strategy was centred around very specific, bespoke pieces of equipment and processes which contained the IP for our then core technologies of Coldry and Matmor. At that stage, we observed unique and novel outcomes that were enough to patent the processes that operated within these unique pieces of equipment, but they required further fundamental and applied experimental activity to generate a deeper knowledge of the chemistry and physics underlying the processes.

Over time, our research has led to the accumulation of a more sophisticated and detailed understanding of underlying processes which has, in turn, led to new intellectual property, particularly around the Packed Bed Dryer (the 2012 Design for Tender program with Arup).

More recently, the innovation process has led to new discoveries around the chemical reactions underpinning Matmor, resulting in two new technologies; HydroMOR and COHgen.

HydroMOR is the subject of a provisional patent application submitted last November (2016), while fundamental research activity has commenced on our newest discovery, COHgen, with the aim of lodging a provisional patent in due course.

As we head into 2018, our HVTF will continue to provide us with a critical base to support our growing R&D programs that will allow us to continue pursuing IP protection as we develop our technologies.

Developing markets for our products and projects

Supported by this critical ongoing R&D effort, and consistent with our commercialisation strategy, ECT is now heading towards a period of proving-up operational revenues to underpin the feasibility of our technology suite.

As a first stage, we are searching for and developing markets which have near-term potential for generating operational revenues.

Over the year, and in tandem with the upgrade programs at the HVTF, we have developed a pipeline of sales leads which the Company expects will lead to significant revenues. Over the next six months, we will continue to test these opportunities, improve our operational capabilities and seek to establish contracts for the supply of solid fuel pellets.

The economic landscape is supportive of our products in Victoria, and we owe it to ourselves to take advantage of this market.

This has led us to commence the early stages of a feasibility study for a zero emissions, solid fuel pellet (Coldry) plant in the Latrobe Valley with a capacity of up to 170,000 tonnes per annum. Progress on this feasibility study is much anticipated and if it were to proceed, would become the largest, most environmentally friendly and economical gateway to upgraded brown coal.

A plant in the Latrobe Valley would aim to realise the potential of brown coal in Australia for prospects such as High-Efficiency Low Emissions (HELE) power plants, low emission hydrogen production, fertiliser production and other high-value downstream chemical extraction methods.

Organisational and Staff Restructuring

One of the more understated initiatives that we have taken on in the past year has been the changes made to our organisational structure and staff roles and responsibilities.

Continual improvement on this front is important to ensure the capability of the business as it seeks to perform against the strategic objectives.

These changes have been made to, build not only effective skill sets and staff capabilities, but also drive a culture of accountability, responsibility and performance.

We confronted the need to direct staff towards those roles that fit more closely with their particular skill sets as we seek to replace generalist roles, where one person wears many hats, towards specialist roles where those high performing attributes of each staff member are applied to the roles that take the most advantage of them.

This process is a continual effort and is supported by improved business policies, structured staff performance reviews and systems that support improved transparency, workflow and collaboration.

So overall, how have we performed this year?  I think we can do more. The strategy is intact and there’s nothing fundamentally wrong with the direction we are heading but the outcomes have been lagging in time and the share price is reacting accordingly.

All of us at ECT perform a community service every day and we are privileged to be paid for this service. You the shareholders are the community we service.  No one in this business should feel entitled to their position and the privilege that comes with being an ECT staff, executive or board member needs to be backed by the urgency in delivering key outcomes and a mindfulness of the one performance indicator above all else - share price.

I am confident that the current group of staff and managers can take your Company to the next level but that doesn’t mean we won’t see changes. We are ever mindful of the need to improve our effectiveness as a business and this will continue over the next 12 months with professional impunity.  Commitment, Urgency, Tenacity and Accountability.

Our goals for the next 12 months include:

  1. Commence construction of our project in India
  2. Reach financial close of our second project in Latrobe Valley
  3. Generate enough operational revenues to avoid further capital raising for working capital
  4. Develop patents for our emerging technology suite including COHGen.

Finally, I’d like to thank you, our shareholders, for your ongoing support which, along with the dedication of the ECT team, will continue to drive the realisation of the considerable potential of our company.

Company Presentation

[pdf-embedder url="http://ectltd.com.au/wp-content/uploads/171122-Presentation-ECT-AGM.pdf"]

Our office will close at 5pm on Friday 23 December 2016 and re-open at 9am on Monday 9 January 2016.

For urgent enquiries please email [email protected].