Highlights within the report that should be noted are:
- Revenues up – initial sales program resulting from operational outputs during testing works (adding impetus to the HVTF1 program), as well as consulting revenues
- EBITDA loss decreased year on year by $164k, driven largely by non-cash adjustments.
- Depreciation expense higher due to full year of Matmor Test plant assets depreciation (claimable under AusIndustry R&D Incentive scheme)
- Core company expenditure areas (Corporate, Legal, Employee costs, Sales & Marketing, Engineering & Plant costs, Occupancy and Travel & Accommodation) decreased year on year, despite inclusion of additional expenditures relating to Bacchus Marsh upgrade preparatory expense and Indian project work ramp up
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