ECT achieves first local Coldry sale
Key Points:
- First local market off-take agreement signed for 2,000 tonnes per year for 2 years
- Coldry pilot plant upgrade significantly improves cost of production adding commercial capacity
- Coldry well suited to travelling-hearth furnaces
- Further discussions with several potential customers ongoing
Environmental Clean Technologies Limited (ASX:ESI) is pleased to announce it has signed its first local Coldry sale with Maryborough based BAIC Protein, from its Coldry pilot plant in Bacchus Marsh, Victoria.
We announced previously (4th February 2011) that a local market study to identify potential sales had been completed and that we would be pursuing several leads.
Following commissioning over past weeks and the subsequent confirmation of the new, lower cost of production we have sought and achieved our first local sale.
ECT Chief Executive, Kos Galtos said the opportunity to generate even modest sales from the pilot plant will help underpin and off-set the cost of producing large sample quantities destined for both the domestic and global market.
“This is a real bonus as the Coldry pilot plant was never intended to be profitable. We often get asked if we have a commercial plant. Now we do.”
Mr. Michael Mason, General Manager of BAIC said, “Following a series of test burns, we found that Coldry combusts much more thoroughly than briquettes in our furnace, resulting in less tonnage required to do the same job, and less waste material for disposal. That’s good for business”.
ECT Coldry Business Manager Ashley Moore added “The progress we’ve made with JC Steele’s expert assistance has resulted in significant cost reduction, backing up and improving the economic modeling for our commercial scale plant design and by extension, the Victorian Coldry project”.
The Company is scheduled to produce several thousand tonnes of Coldry in coming months to meet the needs of domestic testing by power stations in addition to the sale of pellets to BAIC.
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