Delorean Corporation awarded $5,000,000 grant for QLD1 project

Delorean Corporation (ASX: $DEL) has been awarded a $5,000,000 grant by the Queensland Department of State Development and Infrastructure for the construction, commissioning, and operation of the QLD 1 bioenergy facility project. The grant is part of the Resource Recovery Industry Development Program, aimed at supporting projects that divert waste from landfill, reduce stockpiling, and create jobs.

Delorean Corporation's Executive Commentary

The award of this $5m grant is testament to the commitment of the Queensland Government to get behind Delorean's bioenergy project which will divert organics from landfill and deliver renewable energy. We thank the Queensland Government for their commitment to the QLD1 project and look forward to successfully delivering this project as an additional plank in our rollout of Delorean owned and operated bioenergy infrastructure.

Summary of Delorean Corporation's QLD1 project grant

Delorean Corporation (ASX: $DEL) has been awarded a $5,000,000 grant by the Queensland Government for the construction, commissioning, and operation of the QLD 1 bioenergy facility project. The grant, part of the Resource Recovery Industry Development Program, aims to support projects that divert waste from landfill, reduce stockpiling, and create jobs. The QLD1 project will divert organic waste from landfill and lower value pathways to be processed, via in-vessel anaerobic digestion technology, to produce nutrient-rich biofertilizer, renewable electricity, heat, and renewable gas. Delorean is working on structural project finance options to provide the necessary matching investment for project construction. The QLD1 project is part of Delorean's bioenergy project pipeline and is currently in the planning and development phase. The company expresses gratitude to the Queensland Government for their commitment to the project and looks forward to successfully delivering it as part of their bioenergy infrastructure rollout.