By Peter Roberts The Queensland government is getting back in the venture capital game and directly investing in young – and inherently risky – businesses. State owned VCs have been on the nose since the failure of the Victorian Economic Development Corporation and subsequent abolition in 1993, its demise as much a result of the…
By Peter Roberts Australian-born, US based automotive wheel manufacturer Carbon Revolution has announced preliminary sales for the fiscal second-quarter ending December 2023 of a record US$14.8 million, exceeding previously announced guidance for the quarter of US$14.0M-US$14.5M. For the year ended December 31, 2023, revenue increased 42 percent to US$40.3 million. CEO of Carbon Revolution Jake…
What were the five biggest stories of the week? Here’s what visitors to this site were reading. 5) Legrand is competitive with local manufacture – why not others? In all the orgy of offshoring that has hollowed out Australian manufacturing in the past few decades, few have stopped to ask why do those companies that remain…
Orica the latest to create value from unused land Chemical and explosives business Orica has sold 66 hectares of unused industrial land at Deer Park in Melbourne to UniSuper for $260 million. The sale, stage 1 of a land sale process, netted a net profit after tax of $173 million for the Melbourne company. The…
The federal government has awarded $14 million to Powering Australia Limited to establish the Powering Australia Industry Growth Centre to help Australian businesses manufacture renewable energy technologies. The Centre which stems from the Energy Storage CRC and Curtin University will fund activities and provide services to: help commercialise locally manufactured renewable energy technologies and ideas…
Automated welding company K-TIG has announced that an acquisition of UK’s Graham Engineering Limited (GEL) will not go ahead, blaming a challenging environment and GEL’s trading performance. In a short statement on Friday morning, the company confirmed that the planned acquisition – first shared by company in January last year, and aimed at gaining K-TIG…
SME defence business Australian Target Systems has been awarded a five-year, $33 million contract for supply and servicing of their live-fire target systems at training ranges across Australia, and providing these for Australian personnel to use while deployed overseas. In a statement on Friday morning, defence industry minister Pat Conroy said, “Australian Target Systems has…
ASX-listed compound semiconductor developer BluGlass has signed a Memorandum of Understanding (MOU) with US defence and dual-use photonics company, Applied Energetics, with the two companies to work together on military and commercial applications. In a statement on Friday, BluGlass said the work would leverage its high-performance gallium nitride (GaN) distributed feedback (DFB) lasers “in Applied…
Cleanaway Waste Management has posted strong profit growth as its waste management services grow and the company reaps the benefits of its Blueprint 2030 restructuring platform. The company reported underlying EBIT profit of $173.9 million, up 25.7 percent on the previous corresponding period on revenue up 7.9 percent to $1.59 billion for the first half,…
NIOA Group CEO Robert Nioa has called for swift action to boost Australia’s defence industry so it could play a part in a future Indo-Pacific allied military force. Speaking to the American Chamber of Commerce (AmCham) Queensland Nioa said decisive action was needed due to a ‘palpable’ escalation of geopolitical tensions. Nioa recently inked an…
