AnteoTech (ASX:ADO) to receive $1.2M tax refund

Company News

by Katrina Bullock

AnteoTech (ASX:ADO) has received a tax refund of almost $1.2 million under the Federal Government’s Research & Development Tax Incentive Scheme.

The refund relates to assay development and improvements made to next gen, high energy Lithium-ion batteries during the 2020 financial year.

The funds will be used in part to commercialise and distribute Covid 19 antigen rapid tests.

Shares in AnteoTech (ASX:ADO) are trading flat at 10 cents.