Q1 FY26 Quarterly Report
Australia’s future in bioenergy and renewables
for the quarter ended
30 September 2025
Delorean Corporation Limited
ACN 638 111 127
Company
Update
2025
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 2
Q1 FY2026 Highlights
- Snapshot: Delorean commenced FY2026 by continuing to progress its project portfolio.
This included completing the first $2.7million ARENA milestone for the flagship SA1 project
and completing Practical Completion on the Yarra Valley Water project.
- Cash Balance: $4.1 million as at 30 September 2025 (excluding grant receivables).
- Receipts from Customers: $1.5 million for the quarter ended 30 September 2025.
- Yarra Valley Water: The Food Waste to Energy Design-Build-Operate-Maintain (DBOM)
project has reached a key milestone, with practical completion achieved on the
approximately $53 million construction contract. Delorean has now transitioned into the
operations and maintenance phase, valued at approximately $8 million over the initial two-
and-a-half-year term.
- SA1 Salisbury: Delorean’s flagship Build-Own-Operate (“BOO”) asset continues to progress
strongly, with major earthworks complete and civil works on schedule. The project secured
a $14.5 million lower-cost National Australia Bank (“NAB”) loan to refinance existing
corporate debt, freeing capital for BOO portfolio expansion. Delorean also secured a long-
term biomethane offtake agreement with Origin Energy, having now secured ~$55 million
in long-term contracted revenues for biomethane and liquid CO₂, alongside further revenues
from gate fees, carbon credits, and biofertiliser sales. SA1 underscores the bankability of
Delorean’s BOO model and marks a major step forward in advancing renewable gas and the
circular economy in Australia.
- NSW1 Brickworks Project: The project achieved Development Approval during the
quarter and continues to progress toward a Final Investment Decision (“FID”), with a focus
on funding plans and securing long-form offtake agreements.
- Renewable Gas: Q1 FY2026 continued the trend of renewable gas policy momentum
reinforcing the sector’s critical role in Australia’s decarbonisation journey. The Federal
Government released the nation’s first National Climate Risk Assessment, National
Adaptation Plan, and updated Net Zero Plan, alongside the new 2035 emissions reduction
target of 62-70% below 2005 levels by 2035. These measures highlight the urgent need for
scalable low-carbon energy solutions. Delorean is well placed to benefit from this shift,
further strengthened by landmark regulatory reforms announced in Q4 FY2025, which
provide long-awaited certainty, reduce investment risk, and support accelerated
commercial project rollout.
- Corporate: Delorean welcomed new Non-Executive Director Sureena Ho, who brought a
wealth of experience from the gas industry, following the resignation of long serving
director David McArthur.
Image 1: YVW Bioenergy Project Construction Team
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 3
Q1 FY2026 Activities Report
Delorean Corporation Limited (ASX: DEL) is pleased to provide an overview of the
September 2025 quarter (Q1 FY2026) activities.
Business Overview
Delorean Corporation is a vertically integrated business operating in two high growth investment
sectors – renewable energy and waste management. Delorean is leading the Australian market
with bioenergy and driving commercial production of mains-grade renewable gas. Delorean has
the inhouse capability to deliver bioenergy projects across the full lifecycle, from project
conception to completion, processing organic waste and generating and monetising renewable
electricity, heat and gas.
The core focus of the business is to develop, construct, own and operate bioenergy infrastructure
in Australia. Revenue is derived from the acceptance of organic waste and agricultural residues
(gate fees), the generation of renewable electricity and the production of renewable gas
(biomethane). Additional revenues are also available from the production of a bi-product,
renewable food grade liquid CO2 (biogenic LCO2) as well as Australian Carbon Credit Units
(ACCUs) and Renewable Gas Guarantees of Origin (RGGOs). Furthermore, there are prospects for
other revenue streams in the future, including the sale of liquid and solid biofertilisers and
hydrogen. All these monetisation streams contribute to the overall financial viability and
sustainability of bioenergy operations.
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 4
The business comprises three interoperable divisions:
• Infrastructure (core): rollout of Delorean owned bioenergy infrastructure through our project
pipeline and key partnerships
• Engineering: supporting the EPC and O&M of Delorean’s own projects, while selectively
supporting the Bioenergy sector with third party projects and partnerships
• Energy Retail: retailing of renewable energy (electricity and gas) generated from Delorean
projects through our National electricity retail licence and Victorian Gas retail licence
Delorean’s Integrated Model Derives Diversified Income from Three Sources
Delorean’s Build-Own-Operate Project Pipeline
• Engineering, Procurement,
and Construction (EPC)
Contract Margins
• Operation & Maintenance
(O&M) Contract Margins
• Sale of Renewable Natural
Gas (Biomethane)
• Sale of Renewable Biogenic
Liquid CO₂ (LCO2)
• Gate Fees for Acceptance of
Organic Waste
• Sale of Liquid Fertilizer
(future upside)
• Trading of Environmental Green Credits:
- Australian Carbon Credit Units (ACCUs),
- Renewable Gas Guarantees of Origin
(RGGOs)
- Large-scale Generation Certificates
(LGCs)
- Biogenic CO₂ certification (future upside)
• Future Energy Contracts
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 5
Delorean Engineering Division
Delorean’s Engineering Division delivers engineering design, construction and
operation/maintenance services for third parties under contract, and for Delorean Infrastructure
Division’s build/own/operate (BOO) projects.
Yarra Valley Water, VIC Bioenergy Plant
Project Background
Location: Lilydale, Victoria – Design Build Operate Maintain contract
Project Update
The project reached a key milestone, with practical completion achieved on the ~$53 million
construction contract. Delorean has now transitioned into the operations and maintenance phase,
valued at approximately $8 million over the initial two-and-a-half-year term.
The site has completed over 70,000 hours without injury or lost time incidents (LTI’s), reflecting
the team’s strong safety culture.
Delorean Infrastructure Division
Delorean’s Infrastructure Division is responsible for development, ownership and operation of
commercial-scale anaerobic digestion bioenergy facilities in Australia.
SA1 Salisbury Bioenergy
Project Background
Location: Salisbury, South Australia
Project Benefits
Image 2 & 3: Yarra Valley Water Bioenergy Facility before and after
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 6
SA1 Project Update
SA1 Salisbury, Delorean’s flagship BOO asset, continues to progress strongly. Major earthworks
are complete, civil works are on schedule, and construction of the reception shed and tanks has
begun. Procurement of all long lead items has been contracted. Delorean continues to work on
securing further feedstock revenues, and the project remains on track to achieve waste
acceptance and first gas in 2026.
NSW1 Horsley Park Bioenergy
Project Background
Location: Horsley Park, NSW
Project Update
The project achieved Development Approval during the quarter and work progressed on actions
aligned with the Development Approval. The project continues toward a FID, with a focus on
funding plans and securing long-form offtake agreements, however, until the FID is reached, there
can be no assurance that this project will proceed. The company has continued to secure
additional feedstock revenue, improving project bankability.
Image 8 & 9: NSW1 Bioenergy Plant Render
Image 4: SA1 Salisbury Bioenergy Render Image 5 - 7: SA1 Salisbury Bioenergy site works
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 7
VIC1 Stanhope Bioenergy
Further activities were undertaken in sourcing finance to fund construction of the project, along
with continued work on the gas connection
Delorean Energy Retail Division
Delorean’s Energy Retail Division stands ready for a strategic scale up of its retail operations when
Delorean’s Infrastructure assets come onstream. Delorean continues to retain its WA and National
retail electricity and Victorian Gas licenses in support of the Company’s future rollout of bioenergy
infrastructure across Australia.
Environment, Social and Governance
Delorean conducted its business activities during the quarter in accordance with its fundamental
commitment to sustainability under its Environmental, Social and Governance (ESG) plan.
Delorean is actively preparing for the release of its fourth ESG report.
Delorean’s ESG report provides stakeholders with a comprehensive analysis of the Group’s
Environmental, Social and Governance performance, highlighting key sustainability milestones
achieved during the Financial Year. Additionally, it offers an update on the Company’s continued
progress towards future sustainability goals.
Announcement
Delorean Corporation Chief Operating Officer, Neil Conquest, has released a short video
discussing this ASX Announcement on our interactive Investor Hub. Watch the video and
ask your questions here: https://investorhub.deloreancorporation.com.au/link/PKaY9e
Image 10: VIC1 Bioenergy Plant Render
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 8
Disclaimer
This report has been prepared by Delorean Corporation Limited (Delorean). The material
contained in this report is for information purposes only. This release is not an offer or invitation
for subscription or purchase of, or a recommendation in relation to, securities in Delorean and
neither this release nor anything contained in it shall form the basis of any contract or
commitment.
This report may contain forward-looking statements. Forward-looking statements include, but are
not limited to, statements concerning Delorean business plans, intentions, opportunities,
expectations, capabilities, and other statements that are not historical facts. Forward-looking
statements include those containing such words as could, plan, target, estimate, forecast,
anticipate, indicate, expect, intend, may, potential, should or similar expressions. Such forward-
looking statements are not guarantees of future performance and involve known and unknown
risks, uncertainties, assumptions, and other important factors, many of which are beyond the
control of Delorean, and which could cause actual results to differ from those expressed in this
report. Because actual results might differ materially to the information in this report, Delorean
does not make, and this report should not be relied upon as, any representation or warranty as to
the accuracy, or reasonableness, of the underlying assumptions and uncertainties. Investors are
cautioned to view all forward-looking statements with caution and to not place undue reliance on
such statements.
The report has been prepared by Delorean based on information available to it, including
information from third parties, and has not been independently verified. No representation or
warranty, express or implied, is made to the fairness, accuracy or completeness of the information
or opinions contained in this report.
About Delorean Corporation Ltd (ASX:DEL)
Shares in Delorean Corporation Limited (ASX: DEL) are traded on the Australian Securities
Exchange (ASX). For more information, please visit our website:
www.deloreancorporation.com.au
DELOREAN CORPORATION LIMITED | COMPANY ACTIVITIES REPORT 30 SEPTEMBER 2025 9
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