Environmental Clean Technologies buys Xenica in $12M deal

• Environmental Clean Technologies signed a binding agreement to acquire 100% of Xenica Materials.
• The company secured firm commitments to raise up to $12 million through an investor placement.
• The acquisition secures exclusive rights to flash joule heating technology for commercial MXene production.

Environmental Clean Technologies (ASX:ECT) has agreed to acquire Xenica Materials while securing $12 million in investor commitments.

The transaction expands the company's Flash Joule Heating platform from soil remediation into advanced materials manufacturing.

The company stated that the technology has potential to overcome key cost barriers in commercial MXene production.

Xenica is progressing discussions to secure a licence for military end-use and water filtration applications.

Following the announcement, the Environmental Clean Technologies share price was unchanged at $0.12.

The business previously acquired rights from Rice University to remediate contaminated soil using high-intensity electric pulses.

It maintains a capital-light commercialisation strategy targeting high-growth sectors including energy storage, aerospace, and electronics.