Two Non-Executive Directors appointed to Environmental Clean Technologies board
Environmental Clean Technologies Limited (ASX: ECT) has appointed Lewis Utting and Jon Gourlay as Non-Executive Directors, effective 6 October 2026. The board appointments come as ECT progresses its MXene production and PFAS remediation programs.
Justin Mouchacca has resigned as a Non-Executive Director, effective the same day. According to the announcement, Mr Mouchacca joined the Board in May 2025.
The Company stated the appointments will strengthen its commercial, technical, financial, governance and capital markets capabilities. Key facts from the announcement:
- Two Non-Executive Director appointments (Lewis Utting and Jon Gourlay)
- One resignation (Justin Mouchacca)
- Proposed director share purchases of $50,000 each at $0.12 per share, subject to shareholder approval
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Experience the new directors bring
Lewis Utting: commercial and technical depth
Mr Utting spent more than a decade with BASF, where he held senior commercial and technical roles across its specialty chemicals businesses. He was subsequently Managing Director and CEO of SciDev Ltd (ASX: SDV).
He joined Iondrive Ltd (ASX: ION) in October 2024, where he has held senior commercial, strategy and CEO roles and has been closely involved in its US expansion and strategic partnerships.
Mr Utting has been a member of ECT’s Advisory Board since December 2025. His focus is to include strategy, commercialisation, capital markets and unlocking value from ECT’s MXene and PFAS platforms.
ECT advised it is presently envisaged that, subject to the parties agreeing key terms, Mr Utting will transition to an Executive Director in the next 3-6 months. The Company will release an ASX announcement following any such appointment.
Jon Gourlay: finance and governance
Mr Gourlay is a Chartered Accountant with experience in financial management, operational excellence, risk management, corporate governance and investor relations. He has held senior roles with Newcrest Mining and Glencore, including as Technology and Innovation Commercial Manager at Newcrest.
He is also a Director of SciDev Ltd and Chair of its Audit and Risk Committee.
Faldi Ismail, Executive Chairman
“Lewis has already made a significant contribution through his role on the ECT Advisory Board, and his extensive commercial and technical experience… together with his track record in commercialising PFAS remediation and mineral processing technologies, will be invaluable as we progress the development and commercialisation of our MXene and PFAS platforms.”
“Jon brings deep financial, governance and investor relations expertise, along with extensive experience as a listed company director, which will further strengthen the Board as we execute our strategy.”
Director share purchases and performance rights
Performance rights are entitlements to receive shares if set conditions are met. Here, vesting is tied to a VWAP (volume-weighted average price), which is the average share price over a set number of trading days, weighted by volume. The Board stated that these market-based milestones are intended to align the directors’ interests with those of shareholders.
Director Placement Shares
Subject to shareholder approval, Mr Utting and Mr Gourlay each intend to acquire $50,000 worth of shares at $0.12 per share (Director Placement Shares), raising approximately $100,000 for the Company. The price is at a premium to ECT’s prior closing price of $0.11 and matches the issue price of the $12 million capital raising conducted in August 2026.
The $12 million capital raising in August 2026 was paired with the proposed Xenica Materials acquisition, with $4.5 million earmarked for MXene development and the balance split between existing technologies and working capital.
Annexure A performance rights
Subject to shareholder approval, Mr Utting and Mr Gourlay will each be issued 3.5 million performance rights, vesting as follows:
| Tranche | Rights | VWAP hurdle | Time limit | Board service condition |
|---|---|---|---|---|
| 1 | 1,000,000 | 10-day VWAP of $0.15 | Within 1 year | Remain on the Board for one year |
| 2 | 1,000,000 | 10-day VWAP of $0.25 | Within 2 years | Remain on the Board for two years |
| 3 | 750,000 | 10-day VWAP of $0.50 | Within 2 years | On the Board at that time |
| 4 | 750,000 | 10-day VWAP of $1.00 | Within 3 years | On the Board at that time |
Proposed additional rights for Mr Utting
Mr Utting was also issued 3,500,000 performance rights in December 2025 in connection with his Advisory Board appointment. Separately, subject to his appointment as an Executive Director and shareholder approval, ECT is proposing to issue him an additional 7,500,000 performance rights, based on a 20-day VWAP:
- 3,750,000 vesting at a 20-day VWAP of $0.30 within 1 year of issue
- 3,750,000 vesting at a 20-day VWAP of $0.50 within 2 years of issue
Further details will be included in the ASX announcement regarding any Executive Director appointment. ECT intends to seek shareholder approval for the Director Placement Shares and performance rights at the upcoming AGM.
US strategic advisory agreement
ECT has entered into a 12-month strategic advisory agreement covering US investor engagement and US defence market development. The agreement points to a US-focused push alongside the board changes.
As partial consideration, the Company will issue 2,000,000 performance rights to Rusad Holdings Pty Ltd (“Consultant Performance Rights”), subject to shareholder approval. Of these, 1,000,000 vest at a 20-day VWAP of A$0.25 and 1,000,000 at a 20-day VWAP of A$0.50.
Any shares issued on conversion of the Consultant Performance Rights will be subject to six months’ escrow upon vesting. The announcement does not disclose the fees payable or the consultant’s background.
For readers wanting to understand the defence opportunity behind the US advisory mandate, our detailed coverage of ECT’s defence MXene sublicence sets out the four sequential milestones between the sublicence and any revenue, along with the US executive order creating a policy-driven deadline.
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