- Synertec (SOP) has agreed to extend the repayment date of the $1 million loan to GreenTech Environmental
- The loan repayment date has been extended from December 31, 2020, to February 28, 2021
- The drawn balance of the facility remains at $800,000 as no further funds have been drawn by GreenTech
- Synertec’s loan will allow GreenTech to fully complete the last of the pilot program contracts, with one of its Chinese energy state-owned enterprise customers and invest in additional chemicals and equipment
- Synertec shares are trading flat at 7 cents
Engineering product provider Synertec Corporation (SOP) has agreed to extend the repayment date of the $1 million loan to GreenTech Environmental.
Over its 24 years of operation, Synertec has been a provider of engineering products and solutions, targeting industry segments with high barriers to entry and high client reputational risk, such as pharmaceuticals, critical infrastructure, oil and gas, water and defence.
The loan repayment date has been extended from December 31, 2020, to February 28, 2021.
GreenTech Environmental specialises in waste management services, providing sewage treatment, wastewater resource utilisation, water treatment, and other services throughout China.
Synertec’s loan will allow GreenTech to fully complete the last of the pilot program contracts with one of its Chinese energy state-owned enterprise customers, as well as invest in additional chemicals and equipment for further contracts expected to be awarded in January 2021.
The drawn balance of the facility remains at $800,000 as no further funds have been drawn by GreenTech since the company’s previous announcement on November 5, 2020.
Synertec shares are trading flat at 7 cents at 11:19 am AEDT.