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- Alterra (1AG) has lodged a $694,000 research and development (R&D) claim with AusIndustry and the Australian Taxation Office (ATO)
- The claim relates to work carried out at Alterra’s flagship Carpenters Project, where the novel avocado growing methodology has been implemented
- 1AG’s growing method combines proprietary research, learnings from the citrus and stone fruit industries as well as hydroponic methodologies which improve production efficiency.
- Meanwhile, the company has stated it’ll use the R&D claim to fund the preliminary development costs associated with a wider 52-hectare planting
- Shares in 1AG are trading at 4.5 cents per share
Alterra (1AG) has lodged a $694,000 research and development (R&D) claim with AusIndustry and the Australian Taxation Office (ATO).
The R&D claim relates to work carried out at Alterra’s Carpenters Project — the company’s flagship development in WA.
The company used its novel avocado growing methodology at the sit, in an initial five-hectare planting.
1AG’s growing method combines proprietary research, learnings from the citrus and stone fruit industries as well as hydroponic methodologies which improve production efficiency.
Going forward, Alterra plans to use the R&D claim it’s made with the ATO to fund the preliminary development costs associated with a wider 52-hectare planting at Carpenter.
Commenting on the claim, and the company’s wider method, Alterra CEO Oliver Barnes said the aim is to create a more premium variety of fruit.
“We are utilising intelligent irrigation and fertigation systems and real-time detection systems for soil and root health which is expected to deliver increased yield and fruit size,” he said.
“Our aim is to achieve more than 90 per cent premium-grade fruit at 28 tonnes
per hectare,” he added.
Shares in Alterra have have ended Monday’s session trading at 4.5 cents per share.
