3D Metalforge in new capital raising
Additive manufacturing production bureau 3D Metalforge has raised $2.12 million before costs via a single tranche share placement. The placement, strongly supported by new institutional and sophisticated investors, also came with the issue of free attaching options which expire in five years time. The funds will be used to accelerate the Perth company’s next stage of growth through the development of new manufacturing hubs in the USA and Australia. 3D Matalforge said it had achieved encouraging early results from its expansions in the USA and Australia servicing the oil and gas sectors. The company’s Houston, Texas facility has received its first orders worth $400,000.
CoDeAc reveals uranium detection solution
CoDeAc Solutions has revealed photographs (main picture) of sample bottles of its plutonium and uranium detection solution for the first time. The company’s novel nuclear detection product provides a visual colour change when brought into contact with the radioactive elements, providing a quick, convenient, and accurate detection across a wide range of applications and environmental conditions. The solution can be used where the use of a Geiger counter is infeasible, ensuring that no time is wasted waiting for a laboratory to determine the presence of nuclear contamination. The company envisages the solution could be used by first responders attending accidents, at international borders to test for contraband, and in nuclear medicine, nuclear power and academic institutions.
A2EP webinar studies water and energy savings
The Australian Alliance for Energy Productivity (A2EP) has announced an upcoming webinar on Wednesday 6th April about the water-energy nexus – tackling water and energy usage at the same time. “In this webinar we’ll look at ways to first reduce water used for cleaning and cooling, then we’ll consider new technologies to recycle water and chemicals on-site to reduce carbon emissions. This webinar will focus on opportunities in manufacturing industries as well as commercial buildings.” Speakers include Schneider Electric, Alfa Laval, Frigel and ChemClean who will discuss solutions and technologies available to save energy by saving water. Read more about the event here, and register here. A2EP is an independent, not for profit coalition of research and business leaders helping Australian businesses pursue a cleaner and more successful future by producing more with less energy.
Recce Pharmaceutical received R&D tax rebate
Recce Pharmaceuticals which is developing a new class of Synthetic Anti-infectives, has received a $3,084,955.19 Research and Development Tax Incentive rebate from the Australian Tax Office for the year ending 30 June 2021. The receipt reflects R&D activities undertaken locally and overseas and are provided to the company in cash, without caveat. Recce Pharmaceuticals CEO James Graham said, “We appreciate the continued support and acknowledgement by the Australian Government for the critical work undertaken in our Infectious Disease programmes. This non-dilutionary cash injection yet furthers our strong financial position to deliver on a series of short and long-term milestones.”
VRA progresses sovereign guided missile capability
Varley Rafael Australia (VRA) is progressing its sovereign Guided Missile capability and its readiness for local manufacture and support of the SPIKE LR2 Anti-Tank Guided Missile selected by the Australian Defence Force. VRA hosted RAFAEL Advanced Defense Systems’ guided weapons subject matter experts and jointly reviewed potential Australian suppliers to further RAFAEL’s understanding of Australian industry capabilities. An in-depth visit was made to Thales’ Advanced Ordnance manufacturing facility in regional New South Wales, reviewing potential Australian warhead and rocket motor production and the options for VRA’s Missile Hot Integration facility. Other companies studied were Extel Technologies, Australian Precision Technologies (APT), Hosico Engineering Group (HEG) and Cablex. Varley Rafael Australia is a joint venture between the Varley Group and Israel’s Rafael Advanced Defense Systems.
Picture: CoDeAc Solutions
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