Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-35

Not as of yet cat dog. On the 23rd of June the EU made changes to their state aid framework.

"The changes to the State aid framework to extend funding for net-zero industry should also be seen as a response to the cleantech-related investment incentives created by the US Inflation Reduction Act (IRA), offering new opportunities for companies to benefit from State aid and other financial support."

STEP was also proposed around a similar time:

"On June 20, 2023, the EC (European Commission) proposed the Strategic Technologies for Europe Platform (STEP), allowing existing funding to be directed towards areas of technological development that are crucial for Europe’s leadership. The EC President has proposed that STEP be the precursor to a fully-fledged Sovereignty Fund."

With the Sovereignty Fund to be created in the future, it makes more sense for Talga to benefit from the initial STEP proposal as Talga falls under the category of clean technologies. It's splitting hairs really, but Talga mentions the Sovereignty Fund in their presentation on 30/05/2023, before STEP was proposed. So it's likely that Talga, being one of the first movers in the EU green industry and with a project timeline that matches the STEP proposal, will benefit from STEP rather than the Sovereignty Fund that will come later.


Here are some links for you to dig into if you want any further info:

https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3364

https://www.nortonrosefulbright.com/en-bi/knowledge/publications/b01d19d5/eu-scales-up-green-subsidies-how-you-can-benefit-from-new-support-for-clean-investments