Twiggy Forrest’s Fortescue Metals has followed through on support for new industries based on renewable hydrogen by earmarking up to $400 million dollars for investment in the sector. The iron ore miner told investors as part of its half year profit statement that 10 per cent of profits swelled by strong demand from China would…
Cell Therapies to manufacture Kymriah Melbourne contract manufacturer Cell Therapies has been given Therapeutic Goods Administration approval to manufacture Novartis’ chimeric antigen receptor T-cell at its facility at the Peter MacCallum Cancer Centre. The one-off treatment for blood cancers involves removing cells from the patient, reprogramming them and infuysing them back into the body. The…
Brisbane medtech company Ellume has hosted the US Consul-General Sharon Hudson-Dean and US Embassy officials to its Richlands plant as it scales up production of its rapid Covid-19 test kits. The officials inspected facilities which are being rapidly expanded to meet a $US230 million contract from the United States Department of Defense to provide its…
Hearing implant manufacturer Cochlear is recovering from the effects of the Covid-19 pandemic which interrupted surgical procedures, reporting today half-year earnings before interest and tax (EBIT) down only four per cent on the previous corresponding period. The Sydney company reported EBIT of $175.6 million with 17,377 implant units sold in the half compared to 18,894…
Funding from Australia and the United Kingdom has been revealed for a major research program to improve armour systems for the military. The UK Government announced a bilateral international program to accelerate the integration of advanced materials into military platforms. Funding covers integration of composites, adhesives for structural joining, joining high temperature structures and improving…
A novel ship design to carry Australian hydrogen to markets in North Asia is nearer construction with the completion of a capital raising by Global Energy Ventures. The company which develops compressed natural gas and hydrogen marine transport solutions, has raised $6.3 million in a share placement to institutional and sophisticated investors. The proceeds will…
The Federal Court has handed down a massive penalty against a research and development tax adviser who lodged overstated and unsubstantiated claims on behalf of clients. Thhe Australian Taxation Office revealed that judgement had been made against Paul Enzo Bogiatto who was ordered to pay $22.68 million in penalties. Bogiatto was ordered to pay $6.51…
Stealth Technologies is to develop a new ‘sensor stack’ to add to the autonomous robotic security vehicle (pictured) it is developing with Honeywell. The company, owned by listed business Strategic Elements, is developing the systems to make its robot more intuitive and responsive to the environment. As the company told investors the vehicle will be…
Australia’s largest company by market capitalisation, biotechnology manufacturer CSL has powered ahead in the first half of the financial year reporting a net profit after tax up 44 per cent on the previous corresponding period. The company, which is in the final stages of manufacturing the AstraZeneca Covid-19 vaccine, reported a NPAT of $1.8 billion…
Comment by Peter Roberts There is a myth, unkind as it is to frogs, that the amphibian when set in cold water and brought to the boil will just sit there even as conditions around it go from bad to worse. But something similar has been happening to all of us keen supporters of Australian…
