Jatcorp’s new China distribution agreement
China export specialist Jatcorp has announced an agreement which will see the supply milk powders to Chinese milk brand company BTNature over the next 12 months. The agreement, which could be worth up to $28 million in product sales, covers around 3.2 million cans of eight different products. This is a major boost for Jatcorp, with the new exports equivalent to 70 percent of the company’s revenue for the year ended 30 June, 2022. BTNature product sales are ranked number seven in the milk powder category on Chinese online sales channel Tmall.com.
Cleanaway executives get methane reduction incentive
Cleanaway Waste Management executives will now receive an incentive for their ability to reduce methane emissions from the company’s landfill and other waste handling sites. CEO Mark Schubert revealed the incentive in a speech to shareholders at the company’s annual general meeting, saying methane reduction was now an element of management’s long term inventive target for the next three years. Schubert said: “We have initiatives identified to support the delivery of these targets.” Methane emissions make up about 80 percent of the company’s overall greenhouse gas emissions. During the year Cleanaway refocused its strategies around sustainability and protecting people and the environment.
Viraleze to be distributed in Hong Kong and Macau
Pharmaceutical company Starpharma’s anti-virus nasal spray Viraleze (pictured) will be available in Hong Kong and Macau following an agreement between the company and Hengan International Group. Viraleze, which is not yet approved for sale in Australia, will be available for an initial two-year period through a network of retail stores and pharmacies. Hengen is a manufacturer and distributor of a wide range of related Covid-19 products including face masks and rapid antigen tests. Starpharma’s unique nasal drug delivery technology allowed the development of Viraleze, which kills the virus responsible for Covid-19 and is on sale in global markets including Europe and the UK.
University runs first space resources course
The University of Adelaide concluded its first short course on space resources on Friday delivered through its Andy Thomas Centre for Space Resources. The five-day inter-disciplinary course Space Resources Fundamentals is the first offering of its kind in Australia and is open to anyone with a background in science, engineering, professions and social sciences. Wide-ranging topics were discussed including launch and rocket equations: orbital mechanics; space agriculture, law and construction; deep space psychology and mining techniques in different environments. University of Adelaide’s Associate Professor John Culton said the course looked at key legal aspects of space resources and the various destinations, specific resources, proposed methodologies and the criticality of utilising resources found off-world to facilitate longer duration and farther afield space exploration. Delivering the course were numerous subject experts including two NASA staff – Professor Charles Elachi, director of NASA’s Jet Propulsion Laboratory, and Professor Kiran Bhaganagar, director of NASA Center for Advanced Measurements in Extreme Environments.
Rhythm receives R&D tax incentive
Cancer diagnosis technology company Rhythm Biosciences has received a $2.7 million tax incentive refund from the federal government. The refund follows scaled up research and development activities by the company for its ColoSTAT predictive test. The test is a low-cost, simple blood test allowing early detection of colorectal cancer and mass screening.
SME’s raise capital to fund development
The capital raising environment for small manufacturers appears to be improving with a number raising new capital in the past week. Technology company Archer Materials raised $25.3 million, while medicinal cannabis producer Wellnex Life raised $6 million. Archer will use the funds to continue development of its room temperature, qubit quantum semiconductor computer chip and its lab-on-a-chip biochip devices. Wellnex plans to offer Australia’s first over the counter cannabis products. Wellnex Life raised $2.8 million from a share placement, and accepted a $3 million strategic investment from Homart Pharmaceuticals. Homart is a Sydney-based health supplements, skincare and dairy products manufacturer.