Green360 Technologies Limited (ASX:GT3) earlier this week confirmed the first commercial product developed from its tailings and settlement pond material has been independently validated and is now market-ready.
The company said the product, named Eco-Clay, was validated by Melbourne University and can replace up to 40% of traditional Portland cement in concrete mixes. The company told investors the product achieved performance results better than existing commercial-grade alternatives.
Green360 Technologies said Eco-Clay is produced using approximately 50% material from each of its settlement pond and tailings facility. The company said this process allows it to tap into circular economy opportunities while maintaining low production costs.
Executive Chairman Aaron Banks said the company is in final negotiations for a toll treatment facility, which would enable Green360 to deliver Eco-Clay to market. Banks said initial commercial quantities could be shipped in the lead-up to Christmas. He added that testing is already underway with major players and large independents.
The company ended the latest quarter with AUD 3.00 million in cash. It also confirmed the appointment of Darren Hedley from Permacast to the board. Green360 said this move strengthens its joint venture relationship with Permacast as they work together on R&D and execution of low-carbon concrete products.
The company said it is now producing commercial retaining wall blocks and noise wall panels. It believes these products can match or outperform existing alternatives while reducing carbon emissions.
In addition, the company is progressing with stage two of its red mud neutralisation trials. The company said initial lab work showed potential in neutralising bauxite residue, a key step in aluminium production. A full-time trial is now underway. If successful at scale, Green360 said it may pursue an agreement with the residue owner to commercialise the process.
Banks said the coming six to eight weeks will include several key developments as the company aims to demonstrate it can produce and deliver Eco-Clay to market partners.
Proactive:
Green360 Technologies has created a product that could replace up to 40% of traditional Portland cement in concrete. The company's Executive Chairman Aaron Banks joins me now with the full rundown. Aaron, it's been quite a fair while. You've been quite busy behind the scenes. How are you?
Aaron Banks:
Good morning, Fouad. We’ve been ultra busy.
Proactive:
You've been ultra busy. There’s been a few announcements in the last ten days or so, but let's first and foremost talk about this new commercial introduction of your product. This can significantly reduce CO₂ emissions, Aaron, and investors must have loved that — your share price shot up 14% on the news. That must be quite an important step forward in your craft.
Aaron Banks:
It is. It was one of three milestones that we're due to hit in the coming weeks. The first step is having a product that’s fit for purpose, that works, and helps with partial replacement of Portland cement.
Yes — validated through Melbourne University, we’ve created our first commercial product, which we call Eco-Clay. It’s a blend sourced from our tailings facility and settlement pond. We’ve now closed the loop and tapped into the circular economy.
It’s a very low-cost process. We take roughly 50% from the settlement pond and 50% from the tailings, run it through the system, then through a classifier. It’s been validated through Melbourne Uni and has performed better than commercial-grade equivalents available globally.
So that was a big milestone ticked off.
Aaron Banks:
Now we move to the next stage — we need a third party to help facilitate sales because we don’t have a classifier on site. There are a couple in Victoria near us, and we’re in the final stages of negotiating a toll treatment facility. Once that’s concluded, we can deliver to market, and then the orders can come.
And finally, the last question: can you make any money from this? That will also be answered very soon.
So it was a big first step, and as you said correctly, the market reacted well to it. There are more updates coming that will define what this opportunity looks like.
Proactive:
They must have also reacted really well to your quarterly results. You ended the quarter with $3 million and also made board appointments. What do you believe was the top highlight this quarter?
Aaron Banks:
It would be the appointment of Darren Hedley from Permacast to the board. That helped further align the two companies. We’ve got joint venture partnerships in both R&D and execution.
His appointment helps strengthen that relationship, keeping both companies on the same page as we move into execution — creating commoditised products in the low-carbon concrete space.
The first of these is retaining wall blocks, which we’ve already announced. We’re also progressing into other products like noise wall panels.
We’re now at a point where we can make these products as well or better than incumbents, while significantly reducing the carbon footprint.
So yes, Darren’s appointment ties it all together and was likely the key highlight.
Proactive:
And you were telling me off camera that it’s a busy few weeks ahead. What should investors expect before the year wraps up?
Aaron Banks:
As mentioned in our announcements, the next step is finalising the toll treatment facility so we can deliver our market-ready product.
This product is currently being tested by majors and large independents. We expect the first commercial quantities to be sent out in the lead-up to Christmas.
By year-end, we hope to show that we can make the product, deliver it to market, and have partners ready to distribute it.
We also have stage two of our red mud trials. Back in May, we announced success in lab tests that neutralised bauxite residue — a precursor to making alumina and aluminium.
We’re now running a full-time trial for the owner of that material. If successful at scale, we’ll look to form an agreement and explore commercialisation.
So yes — a fair bit to look forward to over the next 6 to 8 weeks.
Proactive:
Certainly ending the year on a very high note. Quite a few developments there, Aaron Banks, but looks like we’ll have more to come before Christmas hits. This was Green360 Technologies Executive Chairman Aaron Banks — thank you so much for all those updates.
Aaron Banks:
Thanks for your time.