ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2022

Oct 25, 2022

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R&D Tax Incentive Rebate Received

26 October 2022: Environmental Clean Technologies Limited (ASX:ECT) (“ ECT ” or “ Company ”) is pleased to announce it has received its FY22 R&D Tax Incentive rebate from the ATO.

The amount of $1,797,000 was remitted to the Company’s bank account bringing its cash balance to $4,316,000.

ECT Managing Director Glenn Fozard commented:

“These funds will contribute toward financing the Company’s strategic initiatives, including the commercial demonstration of its COLDry technology and the preparation of a full feasibility study for the proposed Net Zero Emission Hydrogen Refinery Hub Project in Victoria’s Latrobe Valley.”

Background to the R&D Tax Incentive

The R&D Tax Incentive is a program managed by AusIndustry aimed at supporting eligible research activities.

Activities related to the research and development of the Company’s suite of technologies are eligible, providing a 43.5% rebate.

Where the Company incurs a tax loss, a cash rebate is provided. Where a company has taxable income, a tax offset is provided.

This announcement is authorised for release to the ASX by the Board of ECT.

For further information, please contact:

INVESTORS

Glenn Fozard Managing Director info@ectltd.com.au / +613 9849 6203

MEDIA Adam Giles Marketing & Communications Manager media@ectltd.com.au / +613 9849 6203

About ECT

ECT has been developing net-zero emission and hydrogen technologies for over 15 years.

Our solutions aim to transition today’s use of resources to tomorrow’s zero-emission future, delivering immediate financial and environmental benefits.

We are focused on advancing a portfolio of technologies, which have significant market potential globally.

ECT’s business plan is currently focusing on two major projects:

388 Punt Road, South Yarra, VIC 3141 Australia | Phone +613 9849 6203| www.ectltd.com.au | ABN 28 009 120 405 Listed on the Australian Stock Exchange (ASX:ECT)

• 1. Zero-Net Emission Coldry Commercial Demonstration at Bacchus Marsh, Victoria, Australia
• 1. Zero-Net Emission Hydrogen Refinery Project at the Latrobe Valley, Victoria, Australia

About our Technology Suite

Coldry

Coldry is the gateway enabler of higher-value applications for waste biomass and lignite.

These streams are a rich source of valuable hydrocarbons. However, they suffer from high moisture content that must be reduced to enable higher-value upgrading and conversion to solid fuels, liquid or gaseous hydrocarbons.

Drying is easy. However, drying efficiently, cost-effectively and with a low emissions footprint has been the challenge. Coldry meets this challenge through a combination of ‘substrate densification’ and waste heat utilisation, delivering the world’s first low temperature, low pressure, low cost, zero CO2 emissions drying process.

HydroMOR

The HydroMOR process has the potential to revolutionise primary iron making.

HydroMOR is a simple, low cost, low emission, hydrogen-driven technology that enables ‘low value’ feedstocks to produce primary iron. HydroMOR is the transition solution to a “green steel” future.

COHgen

The COHgen process has the potential to deliver a lower cost, lower emission method for hydrogen production from lignite and other waste biomass streams.

COHgen is currently advancing through fundamental laboratory development intended to form the basis for a patent application ahead of scale-up and commercialisation.

COHgen aims to decouple hydrogen production from CCS, accelerating the race towards <$2kg production costs, with little to no emissions.

CDP-WTE

The catalytic depolymerisation-based waste-to-energy process converts’ low-value resources into higher-value diesel and other valuable by-products.

CDP-WTE can be deployed as a standalone solution or integrated with the Coldry process to deliver higher-value, loweremission energy solutions to lignite resource owners.

Forward-Looking Statements

Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ECT, are or may be, forward-looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Therefore, actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

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