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An update from ABx Group Limited ( (AU:ABX) ) is now available.
ABx Group Limited announced significant progress for its subsidiary, ALCORE Limited, with the approval of an Overseas R&D Finding by AusIndustry, which will support its technology development efforts from 2024 to 2026. This approval allows ALCORE to claim overseas R&D activities, crucial for the construction of its pilot plant in Tasmania. Additionally, ALCORE is preparing a grant application for the Industry Growth Program, potentially securing up to $5 million to aid in the commercialization of its technology. The company has also agreed on a repayment schedule for unused funds from the Modern Manufacturing Initiative grant, ensuring continued project success. These developments enhance ALCORE’s industry positioning and underscore the importance of government support in advancing its innovative projects.
More about ABx Group Limited
ABx Group Limited operates in the technology and manufacturing sector, focusing on developing and commercializing clean fluorine chemical technology through its 83%-owned subsidiary, ALCORE Limited. The company is engaged in research and development activities, particularly in collaboration with international experts, to advance its pilot and commercial plants.
Average Trading Volume: 180,080
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$10.83M
For detailed information about ABX stock, go to TipRanks’ Stock Analysis page.