ECT 0.00% 0.1¢ environmental clean technologies limited.

successful financial year

  1. 5,609 Posts.
    ENVIRONMENTAL SOLUTIONS INTERNATIONAL LI 2002-08-29 ASX-SIGNAL-G
    HOMEX - Perth

    +++++++++++++++++++++++++
    ADDITIONAL COMMENTS

    Environmental Solutions International Ltd (ESI) has completed another
    successful financial year, returning an operating profit of $1.3
    million. Revenue for the year was up slightly on last year at $21.9
    million. The ESI Balance Sheet remains strong, with net assets of
    $12.4 million, no material debt and adequate liquidity. A final
    dividend of 0.3 cents per share will be paid.

    ENERSLUDGE(TM)

    During the year the world's first ENERSLUDGE(TM) facility at Subiaco
    was granted Final Completion Certification and the Plant has been
    handed over to the Water Corporation of Western Australia.

    The company has previously indicated that the business model for the
    commercialisation of ENERSLUDGE(TM) is to work with a number of
    licensed partners in Europe, North America and Asia whilst retaining
    the right to deliver significant technology packages into each new
    facility. In July 2002 ESI signed an exclusive licence agreement with
    ONDEO-Degremont (OD), the world's leading water management company.
    OD will have exclusive rights to implement ENERSLUDGE(TM) projects in
    France, and elsewhere on a project-by-project basis. The agreement is
    an important step forward for ESI as it will give the technology the
    support of a very significant player in the important French market.
    There are also many water and wastewater sector opportunities that a
    close working relationship with OD can have for ESI's other
    technologies.

    In addition to OD, discussions have advanced with a number of other
    prospective licensees and business partners to market the
    ENERSLUDGE(TM) technology in parts of Europe and North America. To
    better penetrate the Japanese market the company amended its
    exclusive licence agreement with Mitsubishi Electric Corporation, to
    a non-exclusive basis. ESI is currently working with Deloitte Touche
    Tohmatsu Osaka in Japan to select additional appropriate licensees.

    At this stage the primary target waste streams for ENERSLUDGE(TM)
    include sewage sludge, tannery sludge, "oily" sludges produced by oil
    refineries and pulp and paper residues.

    OTHER TECHNOLOGIES

    ESI's water and wastewater activities continue to operate profitably
    and to generate strong cash flow for your company. During the year
    significant and strategically important contracts were completed (or
    are nearing completion) at Woodman Point (WA), Kemerton (WA), Sunset
    Strip (NSW), Daintree (QLD), Mt Beauty (VIC), Kinoya (Fiji) and
    Manila (Philippines). At Woodman Point, in addition to ESI's
    Biological Nutrient Removal system being used for the new treatment
    plant ESI designed a state of the art programmable logic controller
    (PLC) system to monitor and control the operation of the entire
    treatment plant and ancillary facilities. This first major contract
    for ESI's new process control business and its successful completion
    established an excellent reputation for ESI in this field and has
    already led to further contracts for the company.

    The Daintree contract for the design and construction of three new
    potable water treatment plants in North Queensland uses ultra and
    nano membrane filtration processes to provide drinking water without
    the use of any chemical additives. This is also a new area of
    business for ESI and these contracts are due for completion in
    September/October 2002. The company is actively pursuing other
    contracts in this field.

    Another new thrust during the year was the entry into the treatment
    of winery wastes resulting in the award of a contract by Evans and
    Tate to design, construct, commission and operate a new wastewater
    treatment plant at its Margaret River (WA) winery. Construction and
    commissioning of the plant are completed and its success should see
    future business for the company in Australia's growing wine industry.

    ESI is also using its wastewater experience to expand into markets in
    South-East Asia and the Middle East and has a number of potential
    projects currently at the tender stage.

    THE FUTURE

    ESI's strategic objectives continue to be:

    * The continued commercialisation of the ENERSLUDGE(TM) technology
    and its marketing throughout the world.

    * The further growth of the water and wastewater business, including
    Process Control.

    * Seeking and acquiring new technologies to ensure the company is
    well positioned to take advantage of industrial water recycling and
    wastewater opportunities which will arise in the future.

    * Seeking possible strategic acquisitions to build revenue and
    profit.
 
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