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Pilot Energy Limited ( (AU:PGY) ) has shared an update.
Pilot Energy Limited has secured a $1.52 million R&D Tax Incentive refund facility from Radium Capital to accelerate the receipt of its FY2025 R&D refund. This financing represents 85% of the expected $1.8 million refund and will be used to support ongoing projects, including the Cliff Head Carbon Storage Project. The move underscores Pilot’s strategy to recycle capital for its clean energy initiatives and strengthens its relationship with a leading R&D financing provider, potentially aiding future funding efforts.
The most recent analyst rating on (AU:PGY) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Pilot Energy Limited stock, see the AU:PGY Stock Forecast page.
More about Pilot Energy Limited
Pilot Energy Limited is a junior oil and gas exploration and production company focused on transitioning to carbon management projects and the production of hydrogen and clean ammonia for export to emerging APAC Clean Energy markets. The company aims to leverage its existing oil and gas operations to develop Australia’s first offshore CO2 Storage Project by converting the Cliff Head Oil field for CO2 storage as part of the Mid West Clean Energy Project. Pilot holds interests in the Cliff Head Oil field and exploration permits offshore Western Australia.
Technical Sentiment Signal: Sell
Current Market Cap: A$9.71M
Find detailed analytics on PGY stock on TipRanks’ Stock Analysis page.