Environmental Clean Technologies Limited announced that it has received firm commitments to raise $2.0 million through the issue of 363,636,363 fully paid ordinary shares (Shares) at an issue price of $0.0055 per Share (Placement). The Placement was offered to sophisticated and professional investors and was strongly supported by existing shareholders. Subject to shareholder approval, related parties of the Company will take up 14,510,000 Shares ($79,805) under the Placement.

Proceeds will support engineering works at the Company's Bacchus Marsh production facility under a revised strategy designed to capture near term commercial opportunities. Concurrent with the Placement, the Company announced the appointment of highly regarded energy transition executive Sam Rizzo as Managing Director. Mr. Rizzo is a highly regarded project leader with more than 11 years' experience delivering complex renewable energy and infrastructure projects, focused on achieving optimal value and return on investment.

He was most recently Regional Programme Leader (Europe) for global energy transition company, Fortescue Future Industries. This role led the implementation of strategic corporate agreements for complex multi- billion-dollar projects, which involved entering contractual arrangements with a national utility provider and green renewable energy entities. Current Managing Director, Glenn Fozard, will transition to Chief Operating Officer, effective immediately.

Mr. Fozard held the role of Managing Director for more than 3½ years and has held various roles on the Board of ECT for over 10 years. In his role as Managing Director, Mr. Fozard has been integral in leading the Company's construction and commissioning of the Bacchus Marsh demonstration plant.