Tellus Receives $1.6 Million Research and Development Tax Incentive Refund
- Tellus receives $1,600,000 Research and Development refund
- Tellus’ R&D provides sustainable solutions for our clients
Tellus Holdings Ltd (“Tellus”) is pleased to announce that the Company has received a cash refund through the Australian Federal Government’s Research and Development Tax Incentive Program of approximately $1.6 million.
The Research and Development (R&D) tax incentive is an Australian Government program under which companies receive refunds for 43.5% of eligible expenditure on R&D.
The R&D refund relates to Tellus activities conducted in the 2016/17 financial year.
”Tellus is committed to providing clients a range of best practice solutions for difficult to manage waste problems” said Tellus Managing Director, Duncan van der Merwe ”The company continues to actively research and develop sustainable solutions for our clients that provide superior health, safety and environmental benefits.”
Successful laboratory testing
About Tellus Holdings:
Tellus Holdings Ltd (“Tellus”) is an infrastructure development company in the business of creating economic, social and environmental value from waste, clay and salt resources. This dual revenue model involves mining the commodities kaolin clay and rock salt in thick dry remote beds which creates world’s best practice geological repositories. The voids created by mining are then used to store equipment, archives and waste using a multi- barrier system as part of an integrated safety case. Tellus plans to permanently isolate hazardous waste using environmentally sound management (ESM) principles that protect the environment and human health. Tellus also uses long-term storage that supports the circular economy by placing like-with-like materials for operational safety reasons and to create opportunities for the future recovery of valuable materials. Tellus’ business model mirrors overseas solutions operating in the UK, Europe and North America. Tellus is developing the proposed Sandy Ridge facility in Western Australia (WA) and the proposed Chandler facility in the Northern Territory (NT). Both Sandy Ridge and Chandler were awarded Major Project Facilitation Service by the Australian Government and Chandler was awarded Major Project Status by the NT Government.
For further information:
Visit: www.tellusholdings.com.au or contact:
Duncan van der Merwe
Managing Director
Tel: +61 (0)2 8257 3395
Cameron Morse
FTI Consulting (Media)
Tel: +61 (0)8 9485 8888
