Papyrus Australia updates November 2024

Papyrus Australia (ASX:PPY) has released its Monthly Activity Report for November 2024. Key updates include a joint venture in Vietnam with L39 Capital, a new non-executive director appointment, outcomes from the Annual General Meeting, and details on a secured R&DTI loan.

Papyrus Australia strategic and financial outlook

Papyrus Australia is making significant strides with its latest activities. The collaboration with L39 Capital signifies an important step in expanding its technological and commercial reach in Vietnam. The appointment of Mr. Jim Huang as a non-executive director strengthens the board with his expertise in engineering, technology, and finance, aligning with the company's growth objectives. The successful outcomes of the Annual General Meeting, alongside the presentation of the Papyrus Commercialisation Roadmap for 2024, indicate strong strategic planning. Financially, securing a $131,136 R&DTI loan showcases Papyrus' commitment to leveraging government incentives to bolster its R&D initiatives. Looking forward, Papyrus aims to establish a Phase 2 Technology prototype plant in Australia and a commercial plant in Vietnam by 2025, positioning the company for substantial advancements in both domestic and international markets.

Executive insights on Papyrus Australia

Papyrus engaged L39 Capital to assist in developing a Joint Venture (JV) with Thanh Dung Co in Vietnam. The JV aims to commercialize Papyrus' phase 2 technology in Vietnam. L39 will leverage its network to secure funding and assist in executing the JV. This includes due diligence, setting up management systems, and establishing the JV as an independent commercial entity.