Infinity Lithium Corporation Ltd (ASX:INF) has had the initial application to access EU funding of up to €7 million registered and approved.
The application was put forward by private investment company InnoEnergy, which was appointed by the EBA consortium.
The application is for the KIC InnoEnergy SE Innovation Projects Investment Round 2019.
Funds can be potentially provided for the advancement of the next stages of bench-scale test work and modular plant in the EU.
The grant would potentially incorporate an associated success fee based on revenue share upon commercialisation of San José.
The maximum funding available over 3 years is €7 million under the KIC InnoEnergy SE Innovation Projects Investment facility.
Next steps involve presentation this week
A presentation of the project will now be made by Infinity to InnoEnergy’s committee in Stockholm this week.
The committee consists of technical experts as well as business, education, finance and IP specialists.
