Livium Ltd (ASX:LIT, OTC:LMMFF) has picked up research and development (R&D) tax incentive rebates amounting to A$1.7 million from the Australian Tax Office for the 2024 financial year.
These rebates have been received for the company’s wholly owned subsidiaries, including Envirostream Australia Pty Ltd (A$475,000), VSPC Pty Limited (A$437,000) and LieNA Pty Limited (A$767,000). The final A$800,000 of the rebates was received yesterday.
Unique technologies
Livium CEO and managing director Simon Linge said: “We are pleased to finalise our R&D tax incentive rebates, highlighting the development of our unique technologies throughout FY24.
“Rebates received for LieNA Pty Limited relate to activities under the joint development agreement with MinRes and their associated funding. We look forward to providing an update to shareholders of our plans for this technology.”
About Livium
Livium – formerly known as Lithium Australia – is positioning itself to lead the global transition to sustainable lithium production.
The company operates Australia’s market-leading battery recycler, produces critical battery material lithium ferro phosphate (LFP) and has developed a patented lithium extraction technology.
Livium’s revenue-generating recycling business and technologies are well-placed to capitalise on growing global lithium-ion battery demand and provide diversification benefits to global supply chains.