CFOAM Limited, CFOAM Corp. and its operating entity CFOAM LLC provided the following update: Following successful trials, the 68' long belt continuous kiln was acquired and has now been relocated from North Carolina to Triadelphia; Key purchase orders for a nitrogen generator absorber system and gas fired-incinerator/thermal oxidiser have been placed; Work has commenced on utility upgrades and operating permits for the new facility; Further work is required to reconnect services and install equipment with a target completion date for this work being in the June quarter; Commissioning planned for the September quarter; and R&D work continues. DOE Project: The United States Department of Energy's (DOE) Office of Fossil Energy (FE) has awarded the CFOAM proposal for "Continuous Processing of Carbon Foam Products Made from Coal at Atmospheric Pressure" (or CFOAM Project) for a total project value of USD 2,421,802 commencing 1 January 2021, including DOE funding of USD 1,923,680 with CFOAM being approximately USD 1.523 million and cost share from CFOAM and CONSOL Energy Inc. of USD 498,122. This CFOAM Project will target applications capable of utilizing carbon foam at large scale, transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications). CFOAM PROJECT OBJECTIVES - COAL TO CARBON PRODUCTS: The objective is to create a continuous manufacturing process for carbon foam that operates at atmospheric pressure and can generate well-formed carbon foam panels and lightweight aggregates. A successful outcome would: significantly reduce the cost to manufacture carbon foam through reductions in capital and labour costs, significantly reduce the cycle time to manufacture carbon foam from weeks to hours, and enable the manufacture of much larger volumes of carbon foam.