The board of Integrated Green Energy Solutions Ltd. inform the market that the Company's application for grant funding under the Australian Government Cooperative Research Centres Projects Round 8 has been successful as an offer of project funding has been received by IGES. This is a highly prestigious recognition of the IGES technology with the grant selection process being highly competitive and contested by several groups, making a variety of applications. Cooperative Research Centers (CRC) Program supports Australian industries' ability to compete and produce. The CRC does this by helping industry partner with the research sector to solve industry-identified issues. IGES partnered with the University of Sydney to make the application and is pleased to be working with such a prestigious institution in winning the grant and creating a positive outcome for stakeholders and the environment. The total grant amount is AUD 1.98 Million to be spent over 3 years and leverages contributions from the University. The project submitted for funding is in line with the Company's strategic objectives of providing a true chemical recycling solution to the world's plastic manufacturers. Plastics do have proven benefits during their use phase - for example preservation of food loss in packaging applications, lightweight construction of vehicles, and building insulation. Plastic waste, however, and in particular plastic waste in the context of marine littering, is a major global challenge. IGES is committed to generating a cleaner planet for the next generation. To achieve this IGES will require innovation and joint efforts globally across the value chain of many communities, industry and government. IGES's existing plastic to road ready fuel is a key strategy in solving the worlds plastic crisis. The CRC grant will assist IGES to develop a further use of end of life plastic through the development of an innovative chemical recycling process. Chemical recycling is the process of utilizing waste materials such as plastic by breaking them down into chemical building blocks which through further processing are re-assembled into new "virgin" products. In the case of waste plastics, the CRC grant will be used to further refine the IGES process to produce product feedstock for existing plastic manufacturers. Chemical recycling is a true circular economy solution as the molecules making up the plastic can be reused indefinitely. The board believes that this initiative serves both to improve social license positions to build facilities around the world dedicated to creating a cleaner planet for the next generation as well as future-proofing the Company as the demand for fossil fuels may be impacted by future trends such as vehicle electrification. The project will span 3 years and will provide the following outcomes. Phase 1: 2020-2022; Increasing the current module capacity from 50 tpd to 500 tpd using the IGES "Next Gen" technology utilizing a system modified from the oil processing industry. Phase 2: 2022 - 2023; Optimizing process conditions of the above system to generate feedstock specifically for the plastics manufacturing industry. When combined, these two technologies will future-proof the IGES business model as it will lead to greater economies of scale and provide a feedstock tailor made for the plastics manufacturing industry. IGES is currently in discussions with several global plastic manufacturing companies regarding supplying such feedstock to their facilities. The grant is subject to the following Conditions of Funding: The execution of a contract (the Grant Agreement) between the Department of Industry, Innovation and Science, acting on behalf of the Commonwealth, and the nominated grant recipient (Grantee); The Grantee securing from Partners the same level of Partner contributions (FTE value, Non-staff in-kind and cash), and the undertaking of all project activities as described in the application; and The execution of a contract (the Partners Agreement) between all Partners in the CRC Project.