Monday 1, November 2010Chief Executive's Message Since our last...

Monday 1, November 2010
Chief Executive's Message

Since our last newsletter in early June, we've delivered the next step in our Victoria Coldry project; the signing of the binding licence agreement with TinCom on 25 June.
The complexities and nuances of advancing the commercialisation of a disruptive, high capex, long-lead time, first-of-a-kind technology such as Coldry with a foreign partner mean the process has taken longer than expected. Having said that we are on track per previous announcements and various activities are advancing. More on TinCom and the Victoria Coldry project below.
We've been busy strengthening our team with the recent appointment of two new members:
Dan Panchal - Financial Accountant
Dougal Gillman - Sales Support Coordinator
The addition of Dan provides increased resource to our financial management and reporting efforts, while reducing outsourced Accountancy costs. Dougal's appointment provides the bandwidth to manage inbound sales queries in addition to driving sales and route-to-market campaigns.
In this newsletter we cover a few topics:
Funding Agreement: We explain the recent capital raising with La Jolla Cove Investors.
JC Steele Strategic Alliance: A win-win partnership with a world-class equipment company.
Coldry Intellectual Property: Recent developments and what they means to the business.
TinCom Update: Latest News and coming events.
Victorian Market: With an election in our home State of Victoria on 27 November, we take a look at the local power generation industry in the context of the Government's new Climate Change policy and talk about what it means to ECT and Coldry.
Importantly, our AGM is booked in for Friday 26th November (details to the right). I look forward to presenting, along with the Board, the years results and our plans moving forward.
Kos Galtos
Chief Executive