- Zeotech (ZEO) receives a more than $1 million refund under the Australian Government’s research and development tax incentive program
- The company was reimbursed for expenditure on the development of its proprietary mineral processing technology to sustainably produce manufactured zeolites
- The rebate also relates to advancements of the company’s dual stream agri-soil product development and carbon utilisation technology
- Managing Director Peter Zardo says the funds position the company well to continue progressing scaled up production and development of its technology
- ZEO shares last traded at 4.2 cents on January 18
Zeotech (ZEO) has received a refund of over $1 million under the Australian Government’s research and development tax incentive program.
The Federal Government’s program provides a cash refund on eligible research and development activities performed by Australian companies.
Zeotech was granted $1,041,486.50 back for the funds it spent on the development of its proprietary mineral processing technology to sustainably produce manufactured zeolites.
Additionally, the rebate relates to advancements of the company’s dual stream agri-soil product development, which includes soil carbon protection and enhancement, as well as carbon utilisation technology.
The company’s Managing Director, Peter Zardo, praised the Government incentive which he said supports Australian innovation.
“The funds received in conjunction with cash on hand, position the company well to continue progressing scaled up production and development of innovative applications for manufactured zeolites revolving around circularity and greenhouse gas mitigation.”
ZEO shares last traded at 4.2 cents on January 18.