- Clean TeQ Water (CNQ) cash flows have increased on Q3 FY23 in Q4 with cash on hand up to $4.9 million
- Cash receipts were also up 60 per cent
- The company has taken on a $5 million contract to design components for a uranium processing facility
- During the quarter, the company opened its Laramba drinking water treatment plant in the Northern Territory and commenced the delivery phase of its Townsville water recycling plant
- Clean TeQ shares last traded at 28 cents
Clean TeQ Water (CNQ) has announced cash receipts were up 60 per cent in Q4 FY23 compared to the previous quarter as the company continues to roll out its project portfolio across Australia.
Cash on hand climbed to $4.9 million, while cashflows also remained positive.
Payments to the company were mostly flat at $1.8 million, however, the company did receive an Australian R&D tax refund of $800,000 related to FY22.
During the quarter, the company opened its Laramba drinking water treatment plant in the Northern Territory and commenced the delivery phase of its Townsville water recycling plant.
The company also took on a contract from Heathgate Resources to begin designing components for a uranium processing facility valued at some $5.5 million.
The contract sees Clean TeQ investigating the use of its U-Column technology which is used in the metallurgical beneficiation process.
The company’s graphene membrane division – NematiQ – also achieved its first commercial sales. In the background, the company continues to pivot towards the lithium space, looking at ways its tech can be used in lithium brine projects.
“With the accelerating move to renewable energy and lithium batteries in particular the extraction and purification of lithium is becoming critical,” the company said.
Interim CEO Peter Voigt has also taken on the full role.
Clean TeQ shares last traded at 28 cents.