“While it is disappointing that the JVA has terminated, the opportunities for establishment of a commercial scale project using the Coldry technology are stronger now than they have ever been before. During the period of engagement with Tincom, ECT continued actively to work on the commercialisation of Coldry, and many aspects of the project were progressed, especially design and construction requirements. The end of the JV frees up ECT to explore a number of other promising commercial opportunities, directly with large Asian coal buyers with a history of investment in mine and transport development that have emerged in the last two years.” Kos Galtos, Chief Executive

“Our global deployment strategy involves building strong relationships with brown coal resource owners and black coal consumers in order to drive the uptake of the Coldry technology in strategic markets. Datang is one of China’s leading electricity producers with generation capacity of more than 100GW.” Kos Galtos, Chief Executive, ECT

ECT Chief Executive, Kos Galtos welcomed this important step highlighting the importance of the initial capitalisation of VCPL to enable commencement of external engineering work.