Key Highlights

  • Green360 signed binding MKX supply agreements with Holcim Australia and Eifers Civil for up to 4,800 tonnes each over initial 12-month terms.
  • Quarterly kaolin revenue rose 9% to $3.6 million, and net operating cash outflow fell to $118,000.
  • Boyer Paper Mill terms include a minimum 4,000 tonne take-or-pay commitment and a 19% unit price increase.
  • Pro forma available funding is $3.58 million, equal to 19.3 quarters of funding at September quarter outgoings.

Green360 Technologies Ltd (ASX:GT3) released its quarterly activities report for the three months to 30 September 2026 on 20 October 2026. The report covers the first binding supply agreements for its MKX product, kaolin revenue and cash flow, improved terms with a major customer and the company's funding position.

MKX commercialisation

The company secured its first binding MKX supply agreement with Holcim Australia for up to 4,800 tonnes over an initial 12-month period. After quarter end, it signed a second agreement with Eifers Civil for up to 4,800 tonnes over a similar term, bringing combined agreement volumes to up to 9,600 tonnes. More than 3,500 cubic metres of concrete incorporating MKX, delivered in more than 500 truckloads, has been placed across Melbourne infrastructure projects. The company also established an Industry Advisory Board of senior cement and concrete specialists to support technical approvals, industry engagement and adoption.

Kaolin operations and financial performance

Unaudited quarterly revenue rose 9% to $3.6 million, up $0.3 million from $3.3 million in the June quarter, a change the company attributes to customer pricing adjustments. Net operating cash outflow fell to $118,000 from $1.1 million in the previous quarter, which the company links to higher revenue and previously announced cost-saving initiatives.

Terms with Boyer Paper Mill

The company secured improved terms with its major customer, Boyer Paper Mill, including a minimum take-or-pay commitment of 4,000 tonnes, a 19% increase in unit pricing and expected annual revenue of $2.5 million to $2.9 million.

Funding and R&D refund

After quarter end, the company received a $598,000 R&D tax incentive refund. That increased pro forma available funding to $3.58 million, which the company equates to 19.3 quarters of funding based on its September quarter cash outgoings. The figure includes cash received after quarter end.

Calcining capacity

Through a toll-treatment arrangement with Calix, Green360 has access to up to 30,000 tonnes per annum of calcining capacity, which allows it to develop the MKX market without immediately committing capital to dedicated production infrastructure. The company states that a dedicated calcining facility scoping study is targeted for completion by the end of 2026.

MKX market-creation target

Green360 states that approximately one-third of its 30,000 tonne annual MKX target is now covered by binding supply arrangements, and that it continues to engage with additional concrete producers and contractors. The company also lists its priorities as securing further commercial agreements, increasing physical MKX sales, completing the calcining scoping study by the end of 2026 and targeting positive operating cash flow in FY27.

Summary of the quarter

The quarter records first binding MKX agreements covering up to 9,600 tonnes, a 9% rise in kaolin revenue, a sharply lower operating cash outflow and pro forma funding of $3.58 million, with MKX sales volumes under those agreements still to be delivered.