Dotz Nano Limited (ASX: DTZ, “Dotz” or “Company”), a leading developer of innovative climate and industrial nanotechnologies, provides its Interim Report for the six months ended 30 June 2024, along with the Appendix 4D half-year report, in accordance with ASX Listing Rule 4.2A.
Key highlights of first half 2024 and recent weeks:
-- Completed the construction of a bench-scale unit, demonstrating the effectiveness of DotzEarth technology;
-- DotzEarth’s first sorbent demonstrated enhanced performance compared with existing commercial sorbents with the potential to significantly drive down the cost of CO2 capture;
-- Completed production scale-up of its proprietary synthesis method for converting plastic waste into a porous carbon sorbent specifically designed for CO2 capture;
-- Appointed Head of Engineering, strengthening in-house capabilities towards technology demonstration at scale;
-- Entered into a funding agreement with the US-based investment fund Mercer Street Global Opportunity Fund LLC to raise up to AU$12 (US$7.9) million, of which AU$5 (US$3.3) million drawn to date;
-- Cash balance as at 30 June 2024 was US$0.3 million; net loss for the half year of US$2.8 million and operating loss of US$2.2 million; and
-- Post the reporting period, raised US$1.5 (AU$2.3) million via private placement to support the development of DotzEarth.
Dotz CEO, Sharon Malka said: “We are pleased with the progress we made in the first half of 2024, highlighted by the completion of a bench-scale unit in line with our development plan, the superior performance of our first sorbent compared with existing commercial sorbents, and securing funding to support the DotzEarth development plan.
“The funding secured during the half and in recent weeks is a testament to the growth potential of our unique DotzEarth technology. We continue to evaluate the capital needs of the Company to ensure that Dotz has the appropriate financial pathway to continue achieving our roadmap milestones towards the commercialisation of the DotzEarth technology.
For more information, download the attached PDF.
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