Ann: Daejon Extraction License Application Submitted, page-82

According to the quarterly reports POW contributed $866k to KORID Energy Ltd in the 2019 financial year. Since 1/7/19 POW has contributed $0 however according to Matthew as at 30/6/19 they had contributed sufficient funds that POW had a surplus of $400 to $500k to cover their share of KORID's costs (which are split 50/50) combined with the funds from the KETEP.


During the period the Company advised that its 50% owned subsidiary KORID Energy Limited (KORID Energy) had received
a project funding commitment of AU$3.0M to install and run its patented V-KOR stack technology as part of a AU$9.7M
vanadium battery project in South Korea.

The Korean Institute of Energy Technology Evaluation and Planning (KETEP) has administered the project and the grant,
where the patented V-KOR stack technology will be integrated with a 1MW/4MWh vanadium redox flow battery (VRFB).