Orbital UAV has received AU$4.3 million in grant funding

Orbital Corporation Ltd (ASX: OEC) has received AU$4.3 million in grant income, bolstering its financial position and supporting future growth initiatives. The company secured AU$1.9 million under the Federal Government's Research and Development Tax Incentive program as a refund for FY24 R&D expenditures. These funds will advance Orbital UAV's product roadmap, including larger engine platforms, hybrid systems, and long-term R&D activities.

Additionally, Orbital UAV received AU$2.4 million from the West Australian Government Department of Jobs, Tourism, Science & Innovation for achieving performance milestones by December 2024. This grant supports investments in West Australian design and manufacturing capabilities. The funds have enabled Orbital UAV to retire its debt to the state, improving its net asset position by AU$2.4 million and leaving the company debt-free. This financial milestone underscores Orbital UAV's commitment to innovation and robust operational foundations.

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