LAVO is a company making hydrogen batteries to support a renewable energy future.
Working with researchers from the University of New South Wales, LAVO has been developing its hydrogen energy storage technology for over a decade.
Long-term renewable energy storage is important for the times the sun isn’t shining and the wind isn’t blowing.
LAVO’s long-term batteries can support a more secure energy system and help Australia meet our net zero emission targets. Products like LAVO’s batteries benefit the environment while also having a positive impact for the Australian economy.
The Research and Development Tax Incentive (R&DTI) gave LAVO the financial support it needed to reduce the risk of researching new ideas that may not have been viable without the incentive.
The R&DTI is the Australian Government’s main way of promoting industry investment in research and development (R&D).
The incentive aims to support innovation that creates economic and social benefits for all Australians by:
- encouraging industry to conduct R&D that may not otherwise happen
- offering a greater incentive for smaller firms to do R&D
- helping companies access reliable research services.
Any Australian company can benefit from the R&DTI, with its program covering all industry sectors and business sizes.
R&D benefits the broader economy through ideas, skills and knowledge transfer. R&D plays an important role in Australia’s technological progress and economic growth.
Our department, on behalf of Industry Innovation and Science Australia, jointly administers the R&D Tax Incentive with the Australian Taxation Office.
SOURCE: Department of Industry, Science and Resources
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