CORFO

Who can apply?

Entities eligible to apply as recipients are: legal entities created or constituted in Chile, either public or private, for profit or non-profit, that have commenced activities as a “First-Category Tax Business Activity”, in accordance with Article 20 of the Income Tax Law, the text of which was approved by Article 1 of Decree Law No. 824 of 1974.

What are the benefits provided?

Regarding the amount of the R&D Contribution:

Up to 60.00% of the total cost of each selected project will be co-financed, with a maximum benefit of US$10,000,000 (ten million United States dollars) per project, to be provided by SQM Salar S.A. in installments as determined by Corfo and signed in agreement with the Recipient Entity. Installments will be paid in advance.
Co-financing: participants must provide the remaining co-financing of at least 40.00% of the total project cost, through monetary and/or “in-kind” contributions.

Expected results

1. By the end of the first year:

I. Feasibility and other types of studies.
II. Identification of and negotiations with strategic partners, including suppliers of raw materials, equipment, parts and services, potential customers and collaborators in research and development, who can contribute to the efficiency, innovation and sustainability of the project.
III. Site selection and preliminary studies (if applicable): evaluation of potential locations, logistics, supply chain, and legal requirements and/or restrictions.

2. By the end of the second year:

I. Initiation of application procedures for project permits with the corresponding competent authorities.
II. Commercial agreements for the commercialization of electrolyzers: formalized agreements with strategic partners and customers to secure distribution channels, supply agreements, and commercial partnerships.
III. Plant engineering studies and design.

3. By the end of the third year:

I. Negotiation and closing of contracts with suppliers for the construction of the plant.
II. Definition of necessary job profiles: job profiles required for the operation of the plant identified and defined.

4. By the end of the fourth year:

I. Start of construction of the plant under the direction of the contracted EPC company, ensuring compliance with all applicable environmental regulations and environmental impact mitigation measures.
II. Developed training programs for personnel in accordance with the defined profiles, in collaboration with educational institutions, specialized companies, and potentially the EPC company, if applicable.

5. By the end of the fifth year:

I. Completion of plant construction.
II. Testing of equipment and systems to ensure efficient and safe operation of the plant completed.
III. Commencement of plant operation.