Bluechiip Limited Stock Market Press Releases and Company Profile
Receives $1.62 million R&D Tax Incentive Refund
Receives $1.62 million R&D Tax Incentive Refund

Melbourne, Mar 15, 2021 AEST (ABN Newswire) - Bluechiip Limited (googlechartASX:BCT), a leader in the development of sample tracking technology for harsh environments, today announced that it has received $1.62M Research and Development Tax Incentive Refund from the Australian Tax Office for the financial year ended 30 June 2020.

Andrew McLellan, Bluechiip Limited's Managing Director, welcomed the refund and said it would provide a significant cash injection for the Company, on top of Bluechiip's reported cash balance as at 31 December 2020 of $5.61M.

"The $1.62M is significantly more than the $1.23M we received for the financial year ended 2019 and is above our expectations of $1.50M, which we reported as a provision in our 30 June 2020 accounts," he said.

He said the refund was in line with Bluechiip's increased R&D activity during the 2019/20 financial year, which focused on improving its core chip technology's scale and efficiency.

"We now have the capability to manufacture 5-10 million Bluechiip chips per year in multiple formats for different market needs. We are well positioned to supply at scale as we continue to progress our negotiations with original equipment manufacturers (OEMs) and bring our own line of Bluechiip Enabled consumables to the global bio-preservation market."


About Bluechiip Limited

Bluechiip Ltd ASX BCTBluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.

Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.

Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.

Bluechiip: Delivering confidence in every sample.

 

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Contact

Corporate enquiries
Andrew McLellan
Managing Director - CEO
Ph: +61-457-823-470
andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR
richard@oxygenpr.com.au



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