Nanollose (ASX:NC6) has received a $374,063 R&D Tax Incentive Rebate from the Australian government, providing non-dilutive funding and strengthening its balance sheet for its third pilot spin for Nullarbor™ fibers with Birla Cellulose.
The bio-materials company said the funds will allow it to pursue near-term value opportunities, following a recent R&D breakthrough for its microbial cellulose dewatering technology and its commercial application to Jelli Grow™ formulation.
Nanollose also said it will continue to leverage its global partner network as it focuses on its cost base and the commercialisation of its technology solutions.
Nanollose has developed a world first process that creates microbial cellulose from industrial organic and agricultural waste, which is then transformed into rayon fibres with minimal environmental impact.