- Environmental Clean Technologies (ECT) shares are up 100 per cent after inking a 5-year coal supply agreement with EnergyAustralia
- Under the deal, EnergyAustralia is set to supply lignite, or brown coal, to ECT’s Coldry-enabled char project which aims to deliver a small-scale demonstration of its “zero-emission” drying technology in Victoria
- The parties also agreed to jointly repair and recommission the outfeed conveyor terminal at EnergyAustralia’s Yallourn Power Station
- The activities, which are scheduled to commence during June, are anticipated to set the company back some $450,000
- Environmental Clean Technologies shares are up 50 per cent following the announcement to trade at 0.2 cents
Environmental Clean Technologies (ECT) shares are up 50 per cent after inking a five-year coal supply agreement with EnergyAustralia.
Under the deal, EnergyAustralia is set to supply lignite or, brown coal, to ECT’s Coldry-enabled char project. This project aims to deliver a small-scale demonstration of its “zero-emission” drying technology in Victoria.
In addition, the parties agreed to jointly repair and recommission the outfeed conveyor terminal at EnergyAustralia’s Yallourn Power Station to allow for required volumes of run-of-mine lignite to be accessed by ECT.
ECT Executive Chairman Glenn Fozard said ECT was the only company undertaking a demonstration of Yallourn lignite on a high-value application at scale.
“Our zero-emission lignite drying process, Coldry, creates the ideal feedstock
for high-value downstream applications including char, syngas, fertiliser and hydrogen,” he said.
“Our investment into the repair and recommissioning of the coal terminal reflects our confidence in supporting the low and zero-emission future use of Yallourn lignite.”
Activities are scheduled to commence during June and are anticipated to set the company back some $450,000.
ECT shares are up 50 per cent following the announcement to trade at 0.2 cents at 1:57 pm AEST.