HITIQ Lands Victorian Government Grant to Scale Manufacturing and R&D
Victorian Government backs HITIQ with non-dilutive grant to expand manufacturing and R&D
HITIQ Limited (ASX: HIQ) has executed a formal Grant Agreement with the Victorian Government, securing non-dilutive grant funding to support the retention and expansion of its headquarters, manufacturing capability, and R&D operations in Victoria. The agreement was executed on 22 May 2026, with a term running until completion of measurable obligations or expiry on 31 July 2031. HITIQ has committed to a minimum project cost of $4.9 million, with the grant value falling within a range of $250,000 to $1.5 million (the exact figure withheld under Victorian Government confidentiality requirements).
What the agreement covers
The Grant Agreement supports a broad set of strategic objectives across HITIQ’s Victorian operations:
- Expand advanced manufacturing capability in Victoria
- Scale manufacturing of HITIQ’s integrated charger and data transfer systems
- Invest in advanced manufacturing equipment and tooling
- Strengthen software and hardware development capability
- Support continued local and international sales expansion
- Maintain Victoria as the company’s operational headquarters and R&D centre
- Create additional employment in Victoria
- Continue its operations in Victoria
Chairman Earl Eddings
“This funding support from the Victorian Government is an important endorsement of HITIQ’s technology platform, advanced manufacturing capability and long-term growth strategy. Importantly, this non-dilutive funding supports our continued investment in Victoria across manufacturing, research and development, product innovation and employment growth as we continue expanding globally.”
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Why non-dilutive funding matters for investors
Non-dilutive funding refers to capital received without issuing new shares, meaning existing shareholders retain their proportional ownership in the company. This contrasts with equity raises or convertible notes, where new securities are issued to raise funds, which can reduce the percentage stake held by current investors.
Government grants, by nature, also carry structured accountability requirements. In this instance, HITIQ must achieve measurable milestones to access funding tranches, which signals that the Victorian Government has independently assessed the company’s operations and technology as credible and worth backing. For investors monitoring HITIQ’s path to commercial scale, external validation of this kind carries meaningful weight beyond the funding quantum itself.
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Milestones, obligations and the investment case
The grant is milestone-contingent. HITIQ has committed to measurable objectives that must be met in stages to receive funding, and breaches of obligations under the agreement may entitle the Victorian Government to seek refunds in some cases. Rather than a concern, this structure represents a formal accountability framework that aligns government support with demonstrated progress.
The strategic objectives outlined in the agreement map directly to HITIQ’s broader commercial ambitions: scaling PROTEQT™ manufacturing capacity, expanding into international markets, and building out its analytics platform across sport, clinical, and research applications.
| Detail | Specifics |
|---|---|
| Grant Agreement date | 22 May 2026 |
| Minimum HITIQ project cost | $4.9 million |
| Grant value range | $250,000 to $1.5 million (exact figure withheld under confidentiality requirements) |
| Agreement term | Execution until milestone completion or expiry on 31 July 2031 |
| Milestone compliance | Measurable objectives must be achieved in stages; breaches may entitle the Government to seek refunds |
About PROTEQT™ and HITIQ
HITIQ develops concussion management and athlete safety technology for sport, clinical, and research applications worldwide. PROTEQT™, co-developed with Shock Doctor, is the company’s flagship solution, delivering real-time head impact data through an instrumented mouthguard and analytics platform. The company serves markets across professional sport, clinical settings, and academic research.
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