GSTX unit QSM USA wins CAEATFA sales-tax exclusion of up to $15M tied to $176.5M California property

Graphene & Solar Technologies Ltd

CAEATFA approved a California Sales and Use Tax Exclusion of up to $14,999,831 for GSTX subsidiary QSM USA, covering up to $176,468,600 in qualified property.
Approval follows QSM USA's previously announced $45 million California Competes Tax Credit, which is subject to investment and employment milestones.
Benefit requires execution of a Regulatory Agreement and continued program compliance; actual amount realized depends on qualified property ultimately purchased.
QSM USA is developing a Southern California silicon wafer plant inside an existing industrial building, targeting 10 GW annual capacity and initial production by mid-2027.
CEO Jason May said the incentive improves capital efficiency of planned US silicon wafer operations; QSM USA CEO Paul Saffron thanked CAEATFA and state offices.

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