CSIRO-backed non-animal based foods business Nourish Ingredients has raised $14.5 million (US$11 million) in seed funding to accelerate commercialsation of its animal-free fermented fats and oils. CEO James Petrie said the company has secured an initial funding round co-led by leading venture capitalists Horizons Ventures and Main Sequence Ventures. Main Sequence is the venture arm…
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A manufacturer of hi-tech welding equipment is embarking on a joint project with a huge global player that it hopes will help it gain a foothold in the lucrative defence manufacturing sector. By Andrew Spence.
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Six Australian small businesses have shared in more than $1.3 million in federal government grants designed to boost their export potential. Defence industry Melissa Price today announced the latest recipients of grants under the Defence Global Competitiveness Grant Program. Price said: “We are helping businesses around the country to upgrade their manufacturing processes and equipment…
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A method of storing solar energy developed by an Australian/United States research team has gained modelling showing its affordability as well as US government backing for a 1MW demonstration plant.
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A strong performance in its property portfolio and investments, and a recovering Australian economy has held up Brickworks profits in the first half of the 2021 financial year. The company reported net profit after tax up 22 per cent to $71 million for the six months. However, underlying earnings before interest and tax (EBIT) was…
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Pharmaceutical developer Starpharma has secured United Kingdom distribution for its Viraleze antiviral nasal spray. The Melbourne company has signed a sales and distribution agreement with LloydsPharmacy which operates 1,400 pharmacy stores in the UK and is part of international pharma distributor group McKesson. McKesson supplies more than 14,000 pharmacies across the UK. Viraleze spray, which…
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Southern Launch has become the first company to be granted a rocket launch facility licence by the federal government, opening the way for commercial sub-orbital launches from its Koonibba Test Range in regional South Australia (pictured). Industry minister Karen Andrews said today ensuring a regulatory framework that balances safety and entrepreneurism is crucial to growing…
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A Monash University team has won a prize for innovation at the global WorldStar Student Awards, developing a fibreboard packaging product using 30 per cent peanut husks.
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Adelaide-based satellite manufacturer Fleet Space Technologies have successfully launched their fifth commercial nanosatellite and are looking to expand production in Australia.
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Energy Renaissance, which plans to soon become Australia’s first maker of lithium ion batteries, is developing a defence-grade battery management system in collaboration with the Innovative Manufacturing Cooperative Research Centre and the CSIRO. The $1.46 million project will develop the “nerve centre” of a battery, collecting and analysing information on a system’s health and usage…
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