ALCORE Secures Overseas R&D Tax Incentives and Eyes $5M Industry Grant

Government Support Validates ALCORE’s Global R&D Strategy

ABx Group’s 83%-owned subsidiary ALCORE has received a significant boost with AusIndustry’s approval of its Overseas R&D Finding. This endorsement allows ALCORE to claim R&D tax incentives for activities conducted overseas between 2024 and 2026, reflecting the specialised nature of its fluorine chemical technology development that requires expertise and equipment not available domestically.

The approval covers collaborations with South African fluorochemical engineering consultants and international equipment manufacturers, underpinning the construction of ALCORE’s continuous pilot plant in Bell Bay, Tasmania. With over $2 million in capital expenditure earmarked for this pilot plant, the overseas R&D finding is a critical enabler for ALCORE’s technology advancement.

Pursuing Further Funding to Accelerate Commercialisation

Building on this momentum, ALCORE is actively preparing an application for up to $5 million under the Federal Government’s Industry Growth Program. This initiative supports innovative commercialisation projects aligned with Australia’s National Reconstruction Fund priorities. Having passed the initial advisory stage, ALCORE expects to submit its grant application by September 2025, with a funding decision anticipated before year-end.

This potential injection of capital would further bolster ALCORE’s efforts to bring its clean fluorine chemical technology to market, reinforcing ABx Group’s strategic positioning in sustainable materials production.

Managing Grant Repayments and Project Progress

Meanwhile, ALCORE has negotiated a repayment schedule with the Department of Industry, Science and Resources for approximately $2.53 million in unused funds from the Modern Manufacturing Initiative grant program. The agreed monthly instalments will conclude by June 2026, ensuring the project’s financial obligations are managed without jeopardising ongoing development.

On the operational front, ALCORE has placed orders for all key equipment for its pilot plant, signaling tangible progress toward commissioning. This phase is crucial for demonstrating the viability of its technology and attracting further investment.

Looking Ahead

ABx Group’s Managing Director Mark Cooksey highlighted the importance of these developments, noting that overseas R&D approval validates ALCORE’s engagement with global expertise and that the Industry Growth Program represents a pivotal step toward commercialisation. As ALCORE advances, the company’s ability to integrate international knowledge with local manufacturing capabilities will be closely watched by investors and industry observers alike.