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AnteoTech Ltd ( (AU:ADO) ) has issued an announcement.
AnteoTech Ltd has decided not to proceed with a A$1.4 million grant from the Queensland Government under the Queensland Critical Minerals and Battery Technology Fund, as it would require an additional A$2.2 million investment from the company. Instead, AnteoTech has established cost-effective alternatives for commercial cell design performance testing, allowing it to focus resources on commercializing its market-ready products. This decision is expected to save the company approximately A$2.2 million in net cash flow and does not affect its eligibility for a separate A$4 million grant from the Australian Renewables Energy Agency.
More about AnteoTech Ltd
AnteoTech Ltd is a company operating in the battery technology industry, focusing on the development and commercialization of advanced materials for energy storage solutions. Its primary products include the Ultranode™ range, which targets various applications from unmanned aerial systems to electric vehicles, with a focus on high energy and cycle life performance.
Average Trading Volume: 3,677,565
Technical Sentiment Signal: Hold
Current Market Cap: A$64.93M
For detailed information about ADO stock, go to TipRanks’ Stock Analysis page.