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Environmental Clean Technologies signs $1.3 million steam supply contract

The 5-year supply contract for Coldry solid fuel will support the delivery of process steam.
Environmental Clean Technologies signs $1.3 million steam supply contract
Shares closed about 8% higher on Thursday

Environmental Clean Technologies Ltd (ASX:ECT) has signed a binding contract for the sale of Coldry solid fuel in the Victorian market via the provision of a turnkey solution for steam services.

Coldry is a lower cost, lower emission, brown coal-based solid fuel with high energy and volatile rating.

The 5-year supply contract for Coldry solid fuel will support the delivery of process steam via an existing solid fuel boiler system of a large food manufacturer in Gippsland, southeast Victoria.

ECT chairman Glenn Fozard said: “This is another positive step for ECT in the local market and is the culmination of business development and engineering activity over several months.

“The driver behind the client’s adoption of Coldry lies in our close engagement and development of a packaged, turnkey solution to deliver steam."

The Coldry high-volume test facility

ECT’s Coldry processing facility in Bacchus Marsh, Victoria has been in place since 2007 and has undergone significant upgrades over the past two years with a focus on increased scale testing of its R&D operations.

As a consequence of this activity, the facility currently has about 10,000 tonnes per annum of available test product capacity which it is seeking to sell into long-term contracts.

With further capital upgrades, the plant will be able to extend capacity by a further 25,000 tonnes per annum.

Potential savings of 15% per annum for the client

Fozard added: “The cost-effectiveness of Coldry solid fuel coupled with our turnkey approach to the provision of equipment, operations and maintenance, fuel and finance, where needed, presents a compelling business case.  

“Lead-in analysis indicates we may be able to deliver potential savings of 15% per annum for our client.”

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