ECT Raises $750K to Propel COLDry Fertiliser and Revamps Board Leadership

Placement to Fuel Growth and Innovation

Environmental Clean Technologies Limited (ASX: ECT) has successfully secured $750,000 through a two-tranche placement, issuing 750 million shares at a nominal price of $0.001 each. This capital injection is earmarked primarily to advance the company's flagship COLDry Fertiliser Project, support its acquisition strategy, and bolster working capital reserves.

The placement's first tranche of $475,000 will be issued under existing placement capacity, with the second tranche of $275,000 subject to shareholder approval expected in mid to late April 2025. Shares issued will rank equally with existing shares, reflecting strong support from both existing and new sophisticated investors.

Progress on the COLDry Fertiliser Project

ECT’s patented COLDry technology transforms lignite into a high-calorific fuel and feedstock, with the fertiliser variant designed to reduce urea usage by 50%, enhance soil health, and lower carbon emissions. Production of lignite-nitrogen blended fertiliser granules commenced in December 2024, with field trials scheduled across South Australia, Victoria, New South Wales, and Queensland in the first quarter of 2025.

These trials are strategically located to cover diverse crop types and significant export regions, aiming to validate the product’s efficacy and commercial viability. The joint venture with ESG Agriculture is actively progressing project finance discussions and negotiating offtake agreements, signaling momentum toward commercialisation.

Strategic Board Reshuffle

In tandem with the capital raise, ECT announced significant board changes. Joseph van den Elsen, with extensive experience in resource and clean technology sectors, has been appointed Non-Executive Chairman. He brings a robust background including leadership roles at Pampa Metals and Ronin Resources, as well as expertise in environmental and energy law.

Jason Marinko, the outgoing Chairman, will remain on the board as a Non-Executive Director, ensuring continuity. Meanwhile, James Blackburn has resigned after playing a pivotal role in guiding ECT’s commercialisation efforts. The company expressed gratitude for Blackburn’s contributions and wished him well in future endeavours.

Acquisition Strategy and Capital Management

Beyond the COLDry project, ECT is actively pursuing acquisition opportunities to complement its existing portfolio, leveraging its position as one of the few ASX-listed clean technology companies focused on sustainable agriculture. Early-stage due diligence is underway, reflecting a strategic pivot toward growth through inorganic means.

Additionally, the company is managing its capital structure prudently, with plans to selectively buy back or cancel expired equity lending facility shares, potentially reducing dilution and strengthening shareholder value.