Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Former FBI Director Robert Mueller has Parkinson’s disease:...
Earthwise Advertising & Investor Awareness Campaign
Commencement of Henbury Field Program
RCM to Acquire Webbs Consol Silver Project from...
Basin Energy
Epstein estate to hand over ‘birthday book’ to...
Dyan Cannon denied White House entry after lying...
Israel eliminates Houthi prime minister in Yemen airstrike...
Sen. Bernie Sanders calls on RFK Jr. to...
Trump appointee exits US foreign aid agency after...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

FY24 R&D Refund Advance Received to Accelerate Pilot Plant Automation and Safety Systems

by admin September 7, 2024
September 7, 2024
FY24 R&D Refund Advance Received to Accelerate Pilot Plant Automation and Safety Systems

ChemX Materials (ASX:CMX) (ChemX or the Company), an Australian high purity critical materials company and 100%-owner of the HiPurA® patented process to produce High Purity Alumina (HPA) in O’Connor, Western Australia is pleased to advise it has received A$250,000 from a short term loan facility (R&D funding method) secured against the estimated R&D Tax incentive refund for FY24.

ChemX receives A$250,000 (tranche 1) from short term R&D tax incentive loan facility.Radium Capital engaged to expedite 80% of eligible FY24 R&D tax refund

The amount advanced represents 45% of the estimated eligible FY24 tax refund.

ChemX continues to seek accelerated non-dilutive forms of funding and has opted into a facility with Radium Capital to provide early access to its eligible R&D tax refund.

The company will invest approximately A$200,000 in control system engineering, which will deliver augmented safety and automation of the unique HiPurA® process. This enhancement will reduce future operational expenditure (Opex) requirements, early establish the nucleus of a future commercial plant control system and provide additional functionality for optimisation of key process parameters.

Under the facility, ChemX has now received 45% of its eligible R&D tax refund in a tranche 1 (A$250,000), and is expected to receive a further 35% of its eligible R&D tax refund by way of a tranche 2 ($A191,935) in coming weeks. The remaining 20% (less administration and interest fees) will be received in the final quarter of calendar 2024, with an estimated total FY24 eligible tax refund of $A552,419.

Radium Capital is a R&D finance provider offering advance access to eligible R&D funds, secured against the assessed tax rebate.

Chief Executive Officer, Peter Lee commented:

“As an innovative high purity materials company, ChemX, is focussed on the near-term delivery of its HPA Pilot Plant based in O’Connor, WA. Being able to accelerate our eligible R&D tax refund enables us to directly inject these non-dilutive funds back into the HPA Program and efficiently use our capital to deliver on our key projects”.

“In January 2024, ChemX was awarded an Australian Patent for the production of 4N (99.99%) HPA, and the company expects other international jurisdictions to follow in the coming six to 24 months. ChemX is proud of our Australian patent and consequently much of our pioneering chemistry-focussed development is R&D tax refund eligible.”

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Hertz Energy Enters Option to Acquire Harriman Antimony Property in Quebec
next post
Trump or Harris? Israelis discuss presidential choice as war with Hamas, other terror groups continues

You may also like

Galan Declines AU$240M Bid for Argentina Projects

April 4, 2025

Tech 5: AI Advances Win Nobel Prizes, Autonomous...

October 12, 2024

Stardust Power Breaks Ground on One of The...

January 23, 2025

Sarama Outlines Extensive Gold Trends at Cosmo Gold...

June 10, 2025

Cameco Raises 2024 Uranium Production Guidance, Boosts Dividend...

November 11, 2024

Nightflower Exploration Target Upgrade Following Antimony Price Increase

September 6, 2024

Opawica Explorations Inc Begins Field Work in Preparation...

December 20, 2024

Noble Mineral highlights Successful Exploration Results announced by...

March 14, 2025

Platinum Price Surges to 11 Year High, Breaks...

June 28, 2025

JZR Gold Announces Closing Of Non-Brokered Private Placement...

September 11, 2024

Recent Posts

  • Former FBI Director Robert Mueller has Parkinson’s disease: report
  • Earthwise Advertising & Investor Awareness Campaign
  • Commencement of Henbury Field Program
  • RCM to Acquire Webbs Consol Silver Project from Lode Res.
  • Basin Energy

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (902)
    • Investing (2,872)
    • Politics (3,525)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.