ChemX Materials (ASX:CMX) has been granted a patent for its HiPurA process in New Zealand by the New Zealand Intellectual Property Office.
The patent follows the Australian patent received in February this year, further strengthening ChemX’s position in producing high purity alumina within Australasia.
CEO Peter Lee, stated, "Patent awards continue to underpin the global rollout of ChemX’s HiPurA technology and the Company looks forward to accelerating its commercialisation strategy in the key markets including LEDs, semiconductors and electrical vehicles following the successful commissioning of the Pilot Plant and off-take negotiations which have begun."
The company also announced the receipt of $191,935 via the Radium Capital loan facility, secured against the estimated research and development tax incentive refund for FY24.
The funding will support the ongoing development of their HiPurA Pilot Plant in O'Connor, Western Australia.
Despite facing delays in receiving key process equipment and electrical infrastructure for the solvent extraction module, ChemX remained proactive by implementing enhanced safety measures and advancing other aspects of the HiPura Pilot Plant.
Lee added, "Electrical infrastructure installation now determines the critical path for the commissioning of the HiPurA HPA Pilot Plant and ChemX is working with its contractor and suppliers to ensure this is delivered as soon as possible."
He also noted the increased investment in process safety and the key advantage of the HiPurA process' flexibility in deployment across various jurisdictions.
At the time of reporting, ChemX Materials’ share price was $0.035.