Join our daily newsletter At The Bell to receive exclusive market insights
- AnteoTech (ADO) receives a $3.2 million research and development tax incentive refund
- The refund falls under the Federal Government’s Research and Development (R&D) tax incentive scheme
- The rebate relates to eligible R&D activities conducted by AnteoTech in both its life science and energy division for the 2022 financial year
- ADO is developing its lithium-ion batter binder reinforcement technology, AnteoX, which was validated through testwork by two international battery companies earlier this year
- Anteotech shares climb 3.64 per cent to trade at 5.7 cents at 2:18 pm AEDT
AnteoTech (ADO) shares have risen on news it has received a $3.2 million research and development tax incentive refund.
The refund falls under the Federal Government’s Research and Development (R&D) tax incentive scheme.
This rebate relates to eligible R&D activities conducted by AnteoTech in both its life science and energy division for the 2022 financial year.
Over the year, AnteoTech has been working on its lithium-ion battery (LIB) binder reinforcement technology, AnteoX, which was validated through testwork by two international battery companies.
ADO said the results of independent evaluations from the two companies confirmed the performance-enhancing properties of AnteoX, which is designed to be an additive for LIB binders to help increase the capacity, extend the life cycle, and boost the mechanical properties of the batteries.
Anteotech shares climbed 3.64 per cent to trade at 5.7 cents at 2:18 pm AEDT.
