What's Happening?
Australian Vanadium has received $2.55 million under the Australian Government's R&D Tax Incentive Scheme for activities conducted during the 2024-25 tax year. The funds will support the company's Feasibility
Study for its Australian Vanadium Project, advancing approvals and downstream initiatives. The project, located at Gabanintha, is one of the most advanced vanadium projects globally, with significant resources reported in compliance with the JORC Code. Australian Vanadium aims to offer investors exposure to the vanadium value chain, from resource extraction to energy storage solutions.
Why It's Important?
The R&D tax incentive strengthens Australian Vanadium's financial position, enabling further development of its project and supporting innovation in the vanadium sector. Vanadium is crucial for steel production and energy storage, particularly in renewable energy applications. The company's focus on vertical integration and high-purity vanadium processing positions it as a key player in the industry. The government's support through the tax incentive highlights the importance of investing in R&D for economic growth and technological advancement.
