Alexium benefits from Australian government scheme
23rd October 2012, Perth, Western Australia & Greer, South Carolina
Alexium International Group Limited (Alexium) has announced that it expects to receive a cash payment of approximately $205,000 from the Australian Government under the 2012 Research and Development Tax Incentive (Australia) scheme.
Along with the successful $1.1m convertible note raise and Alexium’s recent announcement on increased revenues, the receipt of this payment is said to place the company in a strong financial position moving into 2013.
Alexium is now receiving increased revenues from commercial relationships related to the commercial roll out of its novel fire retardant FR nylon treatment as well as additional revenues from the US Air Force to further develop and evaluate its Cleanshell CB repellent treatment.
Alexium International Group Limited holds proprietary patent applications for a process developed initially by the US Department of Defense , which allows for the surface modification and attachment of nano particles or multiple chemical functional groups to surfaces or substrates to provide functions such as fire retardance, water proofing, oil proofing, anti-microbial, non-stick and UV protection.
Applications under development include but are not limited to textiles, composites, paints, packaging, glass and building materials.
Author: Billy Hunter