Environmental Clean Technologies Limited (ASX:ECT) (ECT or Company) is pleased to provide an update on the impact the recent COVID-19 restrictions will have generally on operations and specifically, on the recently recommenced Coldry upgrade project.
- Stage 4 restrictions applied to greater Melbourne continue to limit operations out of head office
- Coldry Facility at Bacchus Marsh is situated in a Stage 3 restricted area
- The Coldry upgrade project remains fully compliant with COVID-safe practices
- Careful monitoring of the impact on suppliers to ascertain any lead time changes
On Sunday 2 August 2020, the Victorian State government implemented Stage 4 Restrictions across greater Melbourne to slow the spread of coronavirus.
The Company is pleased to advise that, following a review of the guidelines, its Coldry upgrade project is proceeding per the previous announcement on 17 July 2020, with minimal disruption anticipated.
ECT Chairman Glenn Fozard commented, “Thankfully, while our Bacchus Marsh facility is not under Stage 4 restrictions it is now operating under Stage 3 restriction guidelines. Stage 3 restrictions do not include the same limits for personnel on site that stage 4 areas have had imposed.
“Unfortunately, this is not the case for our head office situated in South Yarra, where we have been operating on a ‘work from home’ basis for all staff that would normally attend this location.
“We continue to progress our project plan but remain alert to any delays that may be developing in this current environment.”
Staff and contractors who are required to attend the Bacchus Marsh site have been issued with the relevant work permits to facilitate travel to and from the plant. The Company’s head office remains closed and staff continue to work from home when not physically required to be on-site during construction.
The Company looks forward to providing further updates as the project progresses.
About the Coldry Upgrade Project
Comprised of capacity improvements to the former Coldry pilot plant and the addition of new plant and equipment to produce high-value energy products like char and solid fuel, the project constitutes a commercial demonstration of the Company’s proprietary low-rank coal drying technology, aimed at delivering project objectives and monetising the Company’s existing assets.
Consistent with the Company’s strategic plan (4 September 2019), successful completion of the project objectives is expected to enable commercial outcomes via the sale of solid fuel and char product. With the potential to generate revenues exceeding $5 million per annum delivering up to $3 million a year in net cashflow, achievement of the project objectives will support the ongoing research, development and commercialisation of the Company’s suite of technologies.
For further information, contact:
Glenn Fozard – Chairman firstname.lastname@example.org