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0.8¢ protean energy limited

You might want to check with Matt about the Ketep situation.

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pustayo

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13/02/20

22:45

Post #: 42924010
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Originally posted by Surandy70: ↑

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).

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You might want to check with Matt about the Ketep situation.

POW Price at posting: 0.4¢ Sentiment: Hold Disclosure: Not Held
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