Green360 Technologies has kicked off commercial production of its low-carbon Eco-Clay cement alternative through a capital-light tolling agreement with Calix, while securing federal grant funding and a $4.5 million placement to fuel growth.
- Commercial production of Eco-Clay commenced via Calix toll treatment
- $4.5m placement backs Eco-Clay commercialisation
- Federal $3m CRC grant supports low-carbon cement innovation
- Pittong facility operating below capacity with growth potential
- Eco-Clay validated in major Victorian infrastructure projects
Commercial Production Launches with Calix Tolling Agreement
Green360 Technologies (ASX:GT3) has taken a significant step towards scaling its low-carbon cement alternative, Eco-Clay, by commencing commercial production under a toll treatment agreement with Calix Limited (ASX:CXL). The binding deal grants Green360 access to up to 30,000 tonnes per annum of calcination capacity at Calix's Bacchus Marsh facility on a cost-plus basis, enabling a capital-light route to market entry. This arrangement requires minimal upfront investment, with only about $300,000 allocated for plant upgrades.
On 20 April 2026, shortly after the quarter ended, Green360 completed its first commercial run producing 150 tonnes of Eco-Clay, adding to the over 600 tonnes already distributed for field validation in concrete applications. The company is actively negotiating its first commercial supply agreement targeting the Victorian concrete market within the first half of 2026, aiming to leverage Calix's established infrastructure and customer networks. This production milestone builds on the earlier capital-light deal to scale announced in March.
Financial Position Strengthened by $4.5 Million Placement
Green360 bolstered its balance sheet with a $4.5 million placement completed in early March, oversubscribed due to strong demand from institutional and long-term shareholders. The funds are earmarked to accelerate Eco-Clay's commercial rollout, support working capital at the Pittong kaolin processing facility, and advance the development of additional low-carbon cement products. The placement price represented a modest discount to recent trading levels, balancing capital raising efficiency with shareholder value considerations.
The company ended the quarter with $5.4 million in cash and cash equivalents, providing a runway of over seven quarters at current operating expenditure levels. This solid liquidity position underpins Green360's strategy to scale production and commercial adoption of Eco-Clay, while managing the Pittong plant's substantial unused capacity, which currently stands at an annual nameplate of approximately 60,000 tonnes.
Federal Government Grant Enhances Research and Market Validation
Adding to its momentum, Green360 secured a $3 million Cooperative Research Centre (CRC) Project Grant funded by the Australian Federal Government. The grant supports a collaborative initiative involving Transport for NSW, leading universities, and industry partners like Renex Group and Arup to accelerate the decarbonisation of Australia's construction sector through calcined clay technologies.
This partnership will focus on real-world testing, mix design approvals, and comprehensive life cycle assessments to quantify Eco-Clay's environmental benefits. Such rigorous validation is crucial to overcoming market adoption barriers and aligns with Green360's ongoing efforts to demonstrate Eco-Clay's performance in major infrastructure projects, including the Eastern Freeway Extension and Melbourne Airport Business Park.
Operational Update and Market Engagement
During the quarter, Green360's customer receipts dipped slightly to $2.6 million from $3.0 million in the prior quarter, impacted by a major shutdown at a key customer and seasonal factors related to Chinese New Year. Production costs rose to $3.0 million, reflecting the annual mining campaign and pre-commercial manufacturing runs of Eco-Clay. Despite this, the Pittong facility maintains significant excess capacity, positioning Green360 well to scale as demand grows.
Market feedback on Eco-Clay remains positive, with multiple concrete suppliers incorporating the product into large-scale pours for infrastructure projects across Victoria. The company is also advancing validation and certification of low-carbon cement blends with joint venture partner PERMAcast, integrating industrial waste products to broaden its sustainable building materials portfolio.
Green360 continues to engage with government bodies, contractors, and concrete manufacturers to secure commercial supply agreements and expand its footprint in the low-carbon cement market. The company's progress reflects a broader industry shift towards sustainable construction materials, although the timing and scale of commercial uptake remain to be seen.
This quarter's developments build on earlier milestones, including the first commercial Eco-Clay production and the federal grant award, setting the stage for a potentially transformative year for Green360.
Bottom Line?
Green360's capital-light production model and strong cash position set the stage for scaling Eco-Clay, but commercial supply deals will be the critical next test.
Questions in the middle?
- How quickly can Green360 convert its production capacity into sustained commercial sales?
- Will Eco-Clay's cost and performance advantages translate into broader adoption across Australia's concrete industry?
- How will ongoing validation and government collaborations impact regulatory acceptance and market penetration?