Proprietary Technology (Coldry)Coldry is a proprietary process that upgrades low‑rank coal by removing moisture, improving transportability and fuel value. That IP and process know‑how form a durable competitive asset that underpins licensing and project opportunities if adoption scales.
Capital‑Light Licensing And Services ModelA business model focused on licensing, engineering services and project participation is capital‑light versus owning assets. If Coldry is adopted, recurring royalties and fee income can deliver higher margin, scalable revenues and lower execution capital needs over months to years.
Improving Cash Burn And Positive Equity PositionOperating and free cash flow losses narrowed in 2025 versus 2024, and the balance sheet still shows positive equity. That improvement provides a modest runway and time to commercialise tech, reducing immediate insolvency risk while commercialization progresses.