Investing News NetworkAUSTRALIA

ChemX Materials Limited

ChemX Receives $909k R&D Tax Incentive Payment

ChemX Materials (ASX:CMX) (ChemX or the Company), an Australian based high-purity critical materials is pleased to advise that the Company has received an R&D tax incentive rebate payment of $909,600 for the 2022/2023 financial year.

ChemX is progressing its critical materials projects across High Purity Manganese (HPM) and High Purity Alumina (HPA). The rebate reflects the expenditure the Company incurred on eligible R&D activities for the previous financial year.

The R&D Tax incentive rebate administered by AusIndustry and the Australian Tax Office is a valuable program for companies like ChemX which are investing in Research and Development to sustainably produce the critical materials of the future.

R&D rebate funds will be applied towards the continuation of strategic investment in HPA and HPM programs, which are increasingly becoming critical materials for the global energy transition.

Click here for the full ASX Release

This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

ChemX Materials

ChemX Materials

Keep reading...Show less

Top News

Related News