Foresta Group (ASX:FGH) has signed a deed of amendment to extend and revise its exclusive technology license agreement with E3 Carbon, originally announced on Dec. 12, 2024.
The amendment extends the timeframe for key condition satisfaction under the agreement from Dec. 31 to Dec. 31, 2027, providing greater clarity and certainty around the long-term licensing of E3 Carbon's advanced torrefaction technology for use in Australia and New Zealand.
Under the revised terms, E3 CARBON is required to prepare a comprehensive intellectual property strategy, including extending relevant patent coverage to the Australasian region by Dec. 31, 2027.
Foresta's exclusive rights to use the technology in Australia and New Zealand remain unconditional until the same date.
The agreement also establishes a clear pathway to convert the license into a perpetual, irrevocable, exclusive, and royalty-bearing arrangement upon completion of certain conditions, including finalising an equipment supply agreement with Ceramic Drying Systems.
At the time of reporting, Foresta Group's share price was $0.039.