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Environmental Clean Technologies banks $1.63M R&D rebate

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Environmental Clean Technologies (ASX: ESI) has received a $1.63 million payment from the Australian Taxation Office for the Research and Development Tax Incentive.

This is up from the $1.29 million it received last year due to the full year nature and increased total expenditure on design and engineering works associated with its Design for Tender program.

The company had also carried out works for the detailed engineering packages associated with the planned Coldry Demonstration Plant.

Notably, the planned plant is developmental and remains eligible under the R&D tax incentive in future years.

ECT seeks to commercialise coal and iron making technologies that could deliver financial and environmental benefits.

Its Coldry beneficiation process produces black coal equivalent pellets when applied to lignite and some sub-bituminous coals. These pellets have equal or superior energy value to many black coals and produce lower carbon dioxide emissions than raw lignite.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong/China.

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