Australian Vanadium secures $2.55m R&D tax refund

Australian Vanadium Limited (AVL) has received a A$2.55 million refund under the Australian Federal Government's Research and Development (R&D) Tax Incentive Scheme for the 2024/25 tax year. This scheme encourages companies to invest in R&D activities that benefit Australia, with the refund acknowledging AVL’s continued investment in process innovation and downstream value creation.

The funds will strengthen AVL's cash position and be allocated towards the Optimised Feasibility Study for the Australian Vanadium Project. This includes advancing approvals workstreams and other downstream initiatives. The R&D Tax Incentive Scheme is jointly administered by the Australian Taxation Office and the Department of Industry, Science, Energy and Resources.

For further information, graham arvidson, chief executive, can be contacted at +61 8 9321 5594.