ECT 0.00% 0.2¢ environmental clean technologies limited.

ECT Q&A thread 23/7, page-2

  1. 405 Posts.
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    A set of questions from a shareholder answered by email:

    1. When would we expect news on the HydroMOR patent and how far along is the patent application for COHgen? - based on where we're at these technologies are our only real asset of value and critical to bed down to protect ourselves.

    Hydromorpatent (International Application No: PCT/AU2017/051281) was filed on 22ndNovember 2017, with an earlier priority date of 23rd November 2016.The deadline for entering the national and regional phases, that is, convertingthe international application to individual national and regional applications,was set at 23 May 2019. As a consequence ECT entered into individual filingsfor 8 regions including Australia, India and the European Union.

    Thepatent process for COHgen will follow the same process, and an initial filingis expected to be commenced before the end of CY 2019. Whilst our initialtarget had been prior to the end of CY2018, the company took the decision toextend an additional 12 month R&D program to create hydrogen yield curvesfor more than one source of lignite to improve the specificity of the patent,and the range of applicable feedstocks, given greater breadth to the protectionafforded under the patent.

    1. Now that India is back to square 1, in a way, how many staff are we employing there? And what is their role and responsibility?

    Thecompany is far from square 1 in India.

    Aspreviously announced, having recently concluded that NMDC will not becontinuing, and having formally withdrawn the offer to extend the MOU, ECT andNLCIL are now able to explore partnerships with other interested parties.

    Overthe past 4 years, ECT has engaged with a number of other India based steelindustry organisations who have expressed a keen interest in the Matmortechnology. ECT personnel have met with and presented to several relevantorganisations at each of the major conferences previously attended, yet underthe TPA and MOU agreements, had no need to pursue, and in fact was prohibited from, engaging these broaderrelationships until now. As such, the Company has a ready-made project, withcompleted techno-economic feasibility and basic engineering design, a comprehensivefinancial, legal and intellectual property structure, and a committed partnerin NLCIL. This is the basis from which the partners will now actively pursue aniron ore or steel industry partner.

    Discussionshave already been initiated through ECT India CMD Selvakumar, whose knowledge,experience and networks within industry and government will enable ECT to nowbroaden its base of potential partners and ensure Coldry, Matmor and now CDP,have a clear path and timeframe to commercialisation in India.

    Furtherto your question regarding the team in India the company employs four staff inIndia.

    3staff work within the engineering team, and provide core engineeringdevelopment and design for each of ECT major projects, including:

    • Matmor Pilot Plant program in India
    • Proposed Coldry projects in India
    • Coldry Latrobe Valley Project
    • Integration of the CDP technologies to the Latrobe Valley project
    • Future development of COHgen Pilot Plant

    Inaddition, our most recent appointment to India has been Shri P.Selvakumar whomcommenced on 1st June 2019 as Chairman Managing Director (CMD) ofECT India, and lead consultant to the ECT team in India. The revised CMD roleunder Sri P. Selvakumar provides executive leadership in liaising with Indiangovernment and industry, with a focus on coal and steel industry partnerships,business development and strategic planning across the full range of ECTtechnologies; Coldry, Matmor and COHgen.

    1. With all due respect to Ashley, what is his role and responsibility now? For a non revenue company our costs are critical, as you and Glenn would agree, so I'm curious how we can afford people in India and Ashley and maybe others. - I don't think we can but stand to be corrected. I'm concerned our operating costs will blow out as they were a few years ago and while Ashley's investment in the company has been so valuable I'm unclear on the role for him at current salary and revenue levels.

    Theappointment of Shir P.Selvakmuar in India has enabled the Company’s personneland resources to be predominantly utilised advancing Australian activities andfor direct coordination of the India team in supporting these domestic projects(as outlined above in reopen to the India team structure and function)Specifically, the change in the CMD role at ECT India has allowed previous CMD,Ashley Moore, to retain his directorship in ECT India, whilst also ensuring hecan increase his focus on core engineering development and implementation forthe Latrobe Valley project, with an integrated Coldry and CDP platform
    A previous HotCopper post from the ECT_Rep explained how using India as a source of experienced and expert engineering resources has allowed ECT to reduce engineering staff costs by ~15-20% whilst also increasing the years of experience of the engineering team and most critically, providing experience in industries (like pyrometallurgical and steel) that are largely unavailable to us here in Australia.

    1. When can we expect the latest annual report?

    Theresults if the financial Audit are to be released in early August and fullAnnual report to be produced in September 2019.

 
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