Enerji Limited (ASX:ERJ) has increased the funding capacity of its research and development funding agreement from Metamor Capital Partners by $250,000 to $750,000.
The additional funds will be used to execute the company’s “Five-Project” growth strategy and fund its ongoing product development activities.
Following an independent review by a top-tier global tax advisory business, Enerji anticipates receiving a rebate of $1.3 million under the Australian Government’s Research & Development Tax Incentive Program.
Proceeds from the rebate will be used to repay the facility from Metamor with the remainder providing additional cash inflow.
The five projects relate to sites with an estimated 64,000 kWth of energy presently being leaked.
This is heat that is currently vented to atmosphere or not able to be utilised.
The heat costs a large amount of money to produce and causes harm when emitted.
Enerji proposes to recover a proportion for heat-to-power or use as process heat, thereby reducing both costs and emissions.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.