K-TIG raises new capital for growth
K-TIG has announced that it has received binding commitments to raise $4 million (before costs) in new equity via a fully committed share placement to institutional and sophisticated investors. The Placement was completed at an issue price of $0.35 per share, with 11,428,571 new fully paid ordinary shares anticipated to be issued on or about Friday. Net proceeds will be used, said K-TIG “to accelerate the growth strategy in nuclear and defence, new strategic partner alliances to increase market penetration, R&D and for ongoing working capital requirements.”
Only days left to apply for regional AI grants worth up to $500,000
A federal government program offering between $250,000 to $500,000 in grant funding to regional businesses is about to close. Catalysing the Artificial Intelligence Opportunity in Our Regions aims to support industries, businesses and communities partnering together to delivering projects involving artificial intelligence. Supported projects must have a minimum of one project partner, have at least one entity involved being a regional participant, and must show a minimum of $500,000 in eligible project expenditure. More information on eligibility criteria can found here. Applications of the first round of the program are open until 5 pm (AEDT) on February 21.
Silex licensee responds to uranium enrichment requirement
Materials development company Silex Systems’ licensee Global Laser Enrichment has responded to a US Department of Energy request for information on its capabilities in high assay low enriched uranium (HALEU) enrichment. HALEU nuclear fuels are required for next generation, advanced and small modular nuclear reactors. GLE is 51 per cent owned by Silex, and holds an exclusive licence to the Silex laser technology for uranium enrichment. The request for information was issued over concerns raised about the HALEU supply chain and its ability to meet demand for advanced commercial reactors in the US. DOE has been directed by the US government to establish a HALEU consortium to support the availability of HALEU fuels.
FYI Resources and Alcoa continue to achieve high purity HPA
Materials company FYI Resources and Alcoa of Australia have reported on continuing success in their pilot plant (pictured) trial in producing high purity alumina (HPA) The companies reported that a third week of pilot plant operation in Perth achieved an ‘outstanding’ result of 99.000 per cent purity Al2O3. FYI Resources plans a kaolin mine at Cadoux, WA and a processing plant at Kwinana south of Perth to produce HPA which is used in lithium-ion battery technologies as a coating for separators. Pilot operation has led to measurable quality improvements due to trailing various operational refinements. The companies are now focused on finalising the engineering phase of their project, a step towards commercialisation.
ECS exports cannabis to the UK
Cannabis producer ECS Botanics has dispatched the first product in an order for $500,000 worth of dried cannabis flower to UK medicinal cannabis distributor Lyphe Group. Further shipments will be made as the harvest becomes available over coming months. Medicinal cannabis and hemp supplier ECS expects further orders from Lyphe this year. Lyphe has an estimated 60 per cent market share of the UK’s supply of medical cannabis. ECS expects that the UK and Europe will become a significant market for its high quality, GMP certified products.
Interconnector work begins to link SA, NSW
Construction work has begun on the South Australian end of a $2.3 billion, 900-kilometre electricity interconnector with New South Wales. Work began with the installation of the first transmission poles at Robertstown, part of Project EnergyConnect’s 206 kilometres of new transmission line in SA along with a new substation at Bundey. The project connects solar pv and wind energy-rich mid-north South Australia with Wagga Wagga in New South Wales, via Buronga with an additional line between Buronga and Red Cliffs in Victoria. Construction work in South Australia is expected to be completed in late 2023. ElectraNet’s Rainer Korte said Project EnergyConnect was “of national significance” and would improve the affordability, reliability and security of electricity supply for the National Electricity Market.
Picture: FYI Resources/pilot plant operation
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