Environmental Clean Technologies Limited has completed its acquisition of Terrajoule Pty Ltd, securing exclusive rights to innovative soil remediation technology, while raising $3.25 million to fuel its growth and advancing promising fertiliser trials.
- Acquisition of Terrajoule completed, securing exclusive flash joule heating technology license
- Issued 73 million shares and 66 million performance rights as acquisition consideration
- Raised $3.25 million through a two-tranche placement to support growth initiatives
- Ongoing COLDry fertiliser trials show encouraging early results in crop growth and emissions
- Exploring sale of surplus Yallourn property previously earmarked for hydrogen refinery
Strategic Acquisition and Technology Licensing
Environmental Clean Technologies Limited (ASX, ECT) has marked a significant milestone by completing its acquisition of Terrajoule Pty Ltd. This move grants ECT an exclusive licence from Rice University to deploy proprietary flash joule heating technology aimed at remediating soils contaminated with persistent pollutants such as PFAS and heavy metals. This technology positions ECT at the forefront of environmental remediation solutions, addressing a growing global concern over toxic soil contaminants.
The acquisition was settled through the issuance of over 73 million fully paid ordinary shares and nearly 67 million performance rights to Terrajoule’s vendors, with these securities subject to a six-month escrow. This structure aligns vendor incentives with ECT’s future performance and growth.
Capital Raising to Fuel Growth
Alongside the acquisition, ECT successfully completed the second tranche of a capital raising, bringing total proceeds to $3.25 million. The placement was well received, reflecting investor confidence in ECT’s refreshed strategy to commercialise disruptive technologies across high-growth markets. An additional $250,000 was raised beyond the initial placement capacity, underscoring strong demand from sophisticated investors.
Progress on COLDry Fertiliser Trials
ECT continues to develop its patented COLDry technology through the Zero Quest joint venture with ESG Agriculture Pty Ltd. The venture is focused on a novel fertiliser product designed to outperform traditional chemical urea fertilisers while reducing costs and emissions. Early-stage trials on wheat, cotton, and organic leeks have yielded promising results, including improved growth metrics and lower emissions. Notably, adjustments in application timing have enhanced seedling performance, highlighting the product’s potential in sustainable agriculture.
Asset Rationalisation and Future Outlook
In a strategic pivot, ECT is exploring the sale of its Yallourn property in Victoria, initially acquired for a hydrogen refinery project but now surplus to the company’s evolving focus. Active discussions with potential buyers are underway, signaling a disciplined approach to asset management and capital allocation.
With key appointments to its advisory board and executive team, including CTO Justin Sharp and notable figures such as Robert Bilott and Professor James Tour, ECT is building a robust leadership foundation to drive its ambitious agenda into 2026 and beyond.
Bottom Line?
ECT’s strategic moves in technology acquisition, capital raising, and product development set the stage for a transformative year ahead.
Questions in the middle?
- How will the performance rights issued to Terrajoule vendors impact shareholder value upon vesting?
- What are the timelines and expected commercialisation pathways for the flash joule heating technology?
- When can investors expect detailed results from the ongoing COLDry fertiliser trials and potential market rollout?