• First commercial order for Ultranode™ received and shipped to Mercedes-Benz for evaluation
• Progress on commercial discussions with Wyon with Brisbane site visit by technical representative
• $4.0m ARENA grant awarded to AnteoTech to deliver Generation 2 Ultranode™

AnteoTech Ltd (ASX: ADO), a revenue stage company providing solutions for the clean energy and life sciences markets, has released its Appendix 4C - Quarterly Cashflow report and Activities Update for the quarter ended 31 December 2024. Highlights include the receipt and shipment of the first commercial order for Ultranode™ to Mercedes-Benz for evaluation, progress on commercial discussions with Wyon with a Brisbane site visit by a technical representative, positive impact of Anteo X™ when combined with a leading chemistry company's inactive materials for silicon anodes, and the awarding of a $4.0m ARENA grant to AnteoTech to deliver Generation 2 Ultranode™. In the life sciences division, the company reported that the Serum Institute of India is exploring additional uses of AnteoBindTM, which is expected to drive orders above the minimum threshold, and promising initial results with Vidcare Innovations. The company also completed a $4.3m capital raising to enhance clean energy sales, support customer projects, and accelerate the ongoing development of Ultranode™, and had $7.4m in closing cash at the end of the quarter.

The company expects to see further orders from the Serum Institute of India for AnteoBindTM above the minimum threshold outlined in the purchase agreement by the end of FY25.

The focus for H2 FY2025 is on the closure of near-term opportunities to solidify AnteoTech's position as a credible disruptor across both the clean energy and life sciences segments. The company is targeting commercial agreements with several companies, including Wyon, a leading advanced chemistry company, and a North American Carbon Nano Tube manufacturer, as it continues to progress its technology and customer relationships.