It’s the quarterly season again as the ASX market announcements page becomes increasingly flooded with update lodgements.

To save you the trouble of trudging through it all, we’ve wrapped up highlights from some of the reports in the ASX tech sector that caught our eye.


Altech Batteries (ASX:ATC)


  • Altech has advanced its two 60KWh CERENERGY battery pack prototypes during the quarter
  • Pilot plant line at its joint venture partner Fraunhofer IKTS has undergone a comprehensive redesign
  • Altech says a definitive feasibility study for 120MWh first production line CERENERGY battery project was highly positive

ATC continues to progress its ambition of becoming a significant supplier into the grid energy storage market with its unique CERENERGY batteries.

The batteries require just common table salt (sodium chloride) and nickel with no need for lithium, cobalt, graphite and copper, limiting exposure to critical metal price rises and supply chain concerns.

ATC has advanced its ABS 60 60KWh CERENERGY battery pack prototypes during the quarter. The company says the pilot plant line at its joint venture partner, German Government-owned Fraunhofer IKTS in Hermsdorf, has undergone a comprehensive redesign to facilitate the manufacturing of 60KWh battery prototypes.

ATC says all materials have been procured from suppliers and ceramic tube manufacture is 50% complete.

Cell assembly is progressing well with more than half completed. Two battery vacuum casings have been delivered and are undergoing heat loss testing. The finalisation of prototypes are on schedule for mid 2024.

The company says a definitive feasibility study for 120MWh first production line CERENERGY battery project was highly positive with capital costs estimated at €156m ($256) with excellent project economics.

It also provided an update on its Silumunia Anodes project, which incorporates high-purity alumina coated silicon and graphite into the anode of lithium ion batteries.

The company says all equipment has been received for the plant construction with commissioning of plant areas underway.

Non-disclosure agreements have been signed for commercial samples with global automobile and battery supply chain companies.

ATC says the project includes robust economics including an NPV of €684m ($1.21bn).


Fatfish Group (ASX:FFG)


  • Fatfish Group records 20% increase in cash receipts in March quarter
  • Better operating business environment helped boost cash receipts
  • In April FFG announced plans to aquire 50% equity in AI Gaming Co. Pte Ltd (AIGC)

FFG says during the March quarter, it recorded ~12% increase in cash receipts, with total cash receipts of $1.128m, compared to $1.01m in the preceding quarter, which was driven by a better operating business environment.

During the quarter work it started work on a new social gaming project following the appointment of Rhys Campbell, an ex VGW executive, as senior director of social gaming.

The project, called ‘’ is expected to launch in early May 2024. will provide a wide array of games by third party developers.

Moving forward,  FFG hopes to onboard more games and in-game features as well as explore opportunities for first party game development for the platform.

After quarter end in April FFG announced that it had entered into a binding term sheet to acquire up to 50% equity in AI Gaming Co. Pte Ltd (AIGC).

AIGC is a specialist start-up in the development of digital entertainment which uses applied generative-AI to streamline development processes, create lifelike environments, and offer personalised gaming experiences.

Under the binding term sheet, FFG will invest up to SG$2.5m (A$2.8m) in return for up to 50% equity interest in AIGC subject to due diligence to the end of April 2024.


Zeotech (ASX:ZEO)


  • Zeotech advances field validation of zeoteCH₄ methane control technology during Q3 FY24
  • Company inks MOU with Protekta Incorporated establishing framework for potential offtake agreement
  • Study with Central Queensland university shows high reactivity metakaolin can be successfully produced from Zeotech Toondoon kaolin profiles.

The emerging mineral processing technology company advanced field validation of its zeoteCH₄ methane control technology at Griffith University in Queensland using materials sourced from a Cleanaway (ASX:CWY)  landfill during Q3 FY24.

Zeolites – also known as molecular sieves – are manufactured porous mineral frameworks composed mainly of aluminium, silicon, and oxygen that can trap, exchange, or release ions and molecules.

ZEO is exploring the potential of its zeoteCH₄ zeolites to address the challenge of reducing methane emissions from landfills, a significant contributor to Australia’s greenhouse gas emissions.

During the quarter ZEO executed a non-binding memorandum of understanding (MOU) with Protekta Incorporated, a North American company that produces animal nutrition products, including a leading solution that contains manufactured zeolite.

ZEO says the MOU establishes the framework to negotiate,  in good faith,  the terms of a potential offtake agreement for the company’s manufactured zeolite product.

During the quarter Central Queensland University continued to advance its research investigating the suitability of ZEO’s Toondoon and Abercorn kaolin clays, across a variety of grades, as a high reactivity metakaolin to maximise their potential commercial value as an effective supplementary cementitious material (SCM) that could advance low carbon cement and concrete.

Post quarter end, ZEO confirmed that a HRM, that exceeds the Australian Standard and ASTM International Standard for a manufactured pozzolan, can be produced from a range of its Toondoon kaolin profiles.

During the quarter work started on a test pit to procure large quantities of the company’s kaolin product at Toondoon that will advance the company’s R&D initiatives, alongside the capacity to boost metakaolin inventory that will further support cement industry engagement.

The company received a cash refund of ~$682k from the Australian Federal Government’s R&D Tax Incentive Program for eligible research and development activities claimed for FY23.

“We are excited to be advancing to in field trials with our methane control program at Griffith University, which has been bolstered by the recent validation of our Toondoon raw kaolin, which has demonstrated an ability to deliver a high reactivity metakaolin for the cement and concrete industry,”  CEO Scott Burkhart says.

“These initiatives have coincided with work commencing at Toondoon to extract approximately 50 tonnes of kaolin for metakaolin production, that will accelerate cement industry engagement and zeolite production.

“In addition, the confirmation that our manufactured zeolite can be applied in the animal feed industry, underscored by the MoU with Protekta, provides a foundation to continue to expand our zeolite marketing strategy across a number of broad and lucrative market segments.”


iCandy Interactive (ASX:ICI)


  • iCandy reports record cash receipts of $7.21m in March quarter, up ~8% on the previous quarter
  • Company reduces operating costs during the quarter to $365k from $1.71m in the previous quarter
  • iCandy gears up for forthcoming zkCandy project launches, a strategic collaboration with US-based Matter Labs

The mobile games developer and publisher reported recorded cash receipts of $7.21m in the March quarter, an increase of ~8% on the previous quarter.

ICI says it also significantly reduced operating costs during the quarter, resulting in lower net cash used in operating activities of $365k versus $1.17m recorded in the previous quarter.

The company says management remains committed towards driving its strategic optimisation of costs to reduce non-essential expenses via a corporate-wide cost review and right-sizing initiatives which commenced in early 2023.

Further, the company says remain confident about its forthcoming zkCandy project launches for the year, a strategic collaboration with US-based Matter Labs.

ICI says zkCandy aims to pioneer the development of a gaming-focused Layer2 hyperchain, poised to incorporate tailored gaming and AI-specific tools, decentralised gaming infrastructure, comprehensive developer resources, and a robust game development ecosystem.

“zkCandy is looking to operate its testnet to evaluate and gather feedback on the performance, reliability, and scalability of our network infrastructure during the month of May 2024,” ICI says in its quarterly announcement.

Leveraging on Matter Lab’s zero-knowledge stack framework, ICI says its board believes that the zkCandy project stands as a significant opportunity for the company within the burgeoning Web3 market, which has demonstrated notable recovery following an extended period of softer activity.


Environmental Clean Technologies (ASX:ECT)


  • Work progressing towards finalisation of the Bacchus Marsh project in Victoria
  • Scaled testing undertaken throughout quarter providing important data for equipment modification
  • In April ECT & ESG Agriculture signed a binding MOU to enter an offtake deal and develop sustainable soil health solutions

It’s been a big Q3 FY24 for ECT with a successful $1.5m placement putting ECT in a strong position to progress its commercialisation strategy at the Bacchus Marsh project in Victoria.

The company says work is progressing towards the finalisation of the Bacchus Marsh Project with plant design to accommodate two processing streams including agricultural products and syngas testing.

ECT is firming up cost via a formal request for quote process. It says co-use of equipment, process lines and no duplication provide a cost and operational effective solution optimising investment.

Furthermore, ECT says numerous scaled tests throughout the period have been completed, providing important data for equipment modification and process improvements.

Subsequent to the end of the quarter in April ECT & ESG Agriculture signed a binding MOU to enter an offtake agreement and develop sustainable soil health solutions.

ECT says the MOU marks a significant step towards commercialising ECT’s net-zero COLDry technology, establishing a collaboration to develop a blended soil health product that addresses market demand for cost-effective fertilisers while adding carbon back into the soil.

The company has continued to expanded its patent portfolio, securing patents for HydroMOR in Canada in February and India in April, adding to its existing patents in regions such as Australia, the EU, Hong Kong, and Russia.

HydroMOR provides a path to industrial-scale decarbonisation in the hard-to-abate steel sector. ECT says to protect its intellectual property in addition to ensuring its patents are current, the company has engaged a patent specialist company to undertake a complete audit and develop a protection strategy.

Operating activities had net cash outflows of $1.03m during the quarter, $300k higher than the prior quarter. ECT says purchases of property, plant, and equipment were reduced with the company focused on project development.

During the March 2024 quarter, the company commenced a share placement, which raised $1.5m. ECT says $1.2m was received prior to March 31, 2024, with the balance received in April.


The ATC, FFG, ZEO, ICI & ECT share price today:


At Stockhead, we tell it like it is. Altech, Fatfish Group, Zeotech, iCandy and Environmental Clean Technologies are Stockhead advertisers.