AnteoTech (ASX:ADO) secured a AU$4.0 million grant under the Australian Renewable Energy Agency's (ARENA) advancing renewables program.
With the assistance of the ARENA funding, the clean energy services provider will undertake a three-year project to develop and commercialize a proprietary second-generation silicon anode, according to a Tuesday filing with the Australian bourse.
The funding will support the expansion of the company's Brisbane facility and boost its capacity to develop high-performance battery anodes capable of more than 1,000 cycles at 80% capacity retention.
Shares of AnteoTech jumped 8% in recent trade.
Price (AUD): $0.03, Change: $+0.0020, Percent Change: +8.00%
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