Altech receives commitments for another $2.5 million in investment Altech Batteries announced on Monday that it has received binding commitments for shortfall shares, following a non-renounceable entitlement offer, raising an additional $2,538,000 before costs. Total proceeds worth $15,838,208 have now been raised, including $3,000,000 from the recent placement, as well as the allocation of $12,838,208…
Battery materials maker Queensland Pacific Metals has reported success in pilot production of nickel sulfate at the facilities of SGS Canada, producing over 10 kilograms of nickel sulfate meeting specifications required by the binding offtake agreements of its partners, Posco, General Motors, and LG Energy Solutions. QPM has been undertaking pilot-scale testwork with SGS since…
Hearing implant manufacturer Cochlear has revealed that sales jumped 19 per cent, or 16 percent in constant currency terms, in the year ended June to reach $1.96 billion. Sales were driven by the release of new products and as clinicians caught up with implant surgeries postponed during the Covid-19 pandemic. The company, which launched its…
Developer Commercial & General has begun construction of a new $31 million manufacturing, warehouse and office facility in Adelaide for defence contractor Babcock Australasia. The Torrens Road, Adelaide site will include a 4,000m2 purpose-built manufacturing and maintenance building that will underpin Babcock’s delivery of support to land and naval defence programmes including in-service sustainment for…
Bathroom and kitchen fittings manufacturer GWA has increased its net profit on revenues slightly down for the year ended 30 June. The company which manufactures the Caroma, Methven, Clark and Dorf brands reported statutory net profit up 22.7 percenmt to $43.2 million on group revenue down 1.6 percent to $411.8 million. Normalised net profit after…
Korean defence manufacturer Hanwha Defense Australia (HDA) has brought together Australian and South Korean industry to pitch its autonomous VenomX logistics concept. The company is pitching the AI powered ‘Automated Protected Logistics to the Edge’ system to the Australian Army via the Robotic and Autonomous Systems Implementation and Coordination Office (RICO). Hanwha is building self-propelled…
Additive manufacturing machinery manufacturer AML3D has announced a contract extension for Nickel-Aluminum-Bronze (NAB) alloy characterisation and strength testing to support the US Navy’s submarine construction programme. The continuation of alloy testing will continue to demonstrate AML3D’s ability to meet the US Defence additive manufacturing qualification thresholds and aligns with AML3D’s strategy to embed ARCEMY 3D…
Industrial design and product development group ARID has collaborated with fire protection solutions company Embarr over the past two years to conceptualise, develop, test, and manufacture the just-launched Argus bush fire automated fire sprinkler control system. The innovative monitoring and fire suppression control solution is aimed at safeguarding properties in bush fire-prone regions, according to…
University of Wollongong spinout business Hysata officially opened its new 8,000 square metre global headquarters and factory in Port Kembla and was awarded over $23 million in government support on Monday as it progresses its high-efficiency electrolyser towards commercialisation. The company, which closed a $42.5 million Series A round in August last year, said it…
Melbourne-based SCORKL has launched what it says is a “world-first, portable, electric SCUBA Air Compressor”, offering automatic refills of the brand’s portable scuba system. In a statement on Monday, the company said the new compressor and a new battery pack were part of its SCORKL 2.0 – Electric system, which will be available through pre-orders…
