Start up businesses making anything from non-milk cheese to fake meats have been busy raising cash from investors this week. In just one week: Fenn Foods raised $3 million to expand into exports of its vEEF brand plant-based ‘meats’ All G Foods won backing from Woolworths venture capital arm to expand its Love Buds alternative…
A Victorian small business has been awarded a $3.2 million contract with the US Navy to deliver 22 specialised work stands that give technicians safe access to the navy’s P-8A Poseidon Maritime Patrol aircraft. The Ferntree Gully company will also manufacture eight work stands for the Royal Australian Air Force P-8A Poseidons. The work stands…
By Denham Sadler The long-running Export Market Development Grant scheme is in crisis, with reforms quietly introduced two days before Christmas ‘blindsiding’ local businesses and leading to the value of grants being cut by as much as 80 per cent, according to expert advisors. On 23 December last year, a press release from trade minister…
CSL profit dips on Covid disruptions Disruptions to the collection of blood plasma have impacted biotechnology giant CSL in the first half FY22, with EBITDA operating profits down eight per cent to $3.4 billion on sales up three per cent to $8.05 billion. CEO Paul Perreault said the company had responded with multiple initiatives in…
The shadow of COVID and the associated policy failures of the federal government hang heavy over the coming election, with the campaign certain to be chaotic and full of distractions. Here Lance Worrall looks at the biggest policy idea launched to date – Labor’s National Reconstruction Fund. Many voters were shocked to discover early in…
Andrew Forrest’s Fortescue metals group has confirmed it will continue to invest ten per cent of net profits after tax into developing its green hydrogen offshoot, Fortescue Future Industries. Announcing the group’s results for the half year to December, the company said FFI’s FY22 anticipated expenditure was in the range of US$400 – US$600 million.…
State and federal governments and major mining companies are backing a $15 million feasibility study to solve one of the major constraints of industrial and mining development in the state – a lack of water. With the Whyalla steelworks and existing copper mines supplied by pipeline from the Murray or underground, planned massive expansions of…
By Joseph Brookes As industry policy is reconsidered around the world, Australia’s federal Opposition says it is time to move on from ‘dogmatic’ notions of not picking winners, promising to direct a $15 billion Reconstruction Fund to areas of strength and national priority. Shadow minister for industry and innovation Ed Husic this week told Parliament…
AI and edge computing enabled Earth observation services company Spiral Blue, has been awarded $578,000 commercialisation funding in a co-investment from the Advanced Manufacturing Growth Centre. The grant in collaboration with Esper Satellite Imagery, UNSW Sydney, Saber Astronautics and Dandelions will progress Project Rainbow Python. In this project Esper’s hyperspectral imagers OTR-1 and OTR-2 will…
@AuManufacturing news and media welcomes a new team member – Sarah McPhail. Ms McPhail takes up a new project-based post of partnerships manager, a role that will see her liaise on a regular basis with our advertisers and sponsors. With news that @AuManufacturing has grown to become the country’s number one manufacturing news website, she…
