Delorean Receives Nearly AU$3 Million First Cash Payment Milestone Under Government Grant Funding Deal

MT Newswires Live

10/10

Delorean (ASX:DEL) received the first cash payment milestone of AU$2.7 million under the AU$6.1 million grant funding agreement with the Australian Government's Australian Renewable Energy Agency, according to a Friday filing with the Australian bourse.

The grant funding advances the development of the company's SA1 Salisbury bioenergy facility, which is under construction in South Australia, the filing said.

The facility will produce and upgrade biogas into mains-grade biomethane, which will be supplied to industrial users via the Adelaide gas network under an offtake agreement with Origin Energy (ASX:ORG), according to the filing.

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