Green360 Technologies (ASX:GT3) has secured binding commitments to raise AU$4.5 million through the placement of about 112.5 million new fully paid ordinary shares at AU$0.04 each, representing a 10.5% discount to the company's five-day volume-weighted average price, according to a Friday filing with the Australian bourse.

The offer was initially set at a minimum of AU$3 million but was upsized to AU$4.5 million due to strong investor demand, per the filing.

The funds will be used to support growth initiatives, including Eco-Clay commercialization, development of low-carbon cement formulations, Pittong operations working capital, and general working capital and offer costs, the filing added.