Global hemp manufacturer frustrated in Australia

The Australian-listed company that brought you the hemp burger remains frustrated in Australia despite being close to its goal of profitability internationally, according to the company. Elixinol Global (ASX: EXL), listed in Australia with a market capitalisation of $632 million but headquartered in the United States, just reported revenue of $11.7 million for the first…

Carnegie snatches victory from jaws of defeat

Perth wave energy developer, Carnegie Clean Energy (ASX: CCE) appears to have avoided oblivion after creditors approved a restructuring and recapitalisation plan to save the business. The plan, developed by KordaMentha Restructuring acting as administrators of Carnegie, will see secured creditors swapping debt for equity and the raising of $5 million. Unsecured creditors will likely…

Green light for new tyre recycling plant

Tyre recycler Green Distillation Technologies, which has developed world-first technology that transforms old tyres into oil, carbon and steel, is pressing ahead with plans for its second plant. The company has received approval for a plant proposed for Toowoomba from the Queensland Department of Environment and Science, adding to their existing facility at Warren, NSW..…

Gupta’s Liberty steel play – BHP Steel writ large

Comment by Peter Roberts British businessman Sanjeev Gupta has announced a restructuring of his iron and steel making empire, using the very same strategy employed to build Australia’s steel industry, but on a global stage. As reported by @AuManufacturing, Gupta’s GFC Alliance is restructuring its UK steel and engineering assets, the Liberty Primary Steel works…