Cyclopharm receives R&D tax refund
Radiopharmaceutical manufacturer Cyclopharm has received a $1.64 million tax incentive payment from the Australian Taxation Office. Meanwhile the Sydney company is continuing to progress the attainment of US Food and Drug Administration approval for the sale of its Technegas lung imaging products in the United States. Cyclopharm is finalising its reply to a response letter from the FDA which outlined ‘items and recommendations’ to be satisfied prior to the granting of approval in what is the world’s largest potential market. The final stages of the approval process have been disrupted by a global shortage of the radioactive isotope used to produce Technegas imaging gas. Technegas is supporting six clinical trials aimed at expanding the potential usage of Technegas to image a broader range of respiratory diseases.
Carbon Revolution to receive MMI grant cash
Carbon fibre road wheel manufacturer Carbon Revolution is to receive the first payment under a federal government Modern Manufacturing Initiative, manufacturing integration stream grant. An initial payment of $9 million of the $12 million grant is expected to be made to the company in the next two weeks, with the remaining $3 million expected in late FY24. Carbon Revolution negotiated its initial payment at $4.2 million higher than originally announced by Canberra ‘to improve its short-term liquidity by bringing forward grant payments’, according to a statement. “The grant strengthens Carbon Revolution’s capacity to supply the rapidly growing global electric vehicle market where its range extending carbon fibre wheel technology is generating strong future demand’. Carbon Revolution has said it is working on one EV wheel project, but has not named the OEM manufacturer involved.
CEFC in largest wind farm investment
The Clean Energy Finance Corporation has its single largest investment in a wind project – which is also targeting its single largest emissions abatement — in Victoria’s Golden Plains Wind Farm. The CEFC has committed up to $175 million to develop Stage 1 of the wind farm, near Geelong. The project will include 122 wind turbines and generate 756.4 megawatts of clean energy to replace coal-fired generation, with “estimated annual emissions abatement [averaging] 770,000 tonnes CO2-e, or more than 23 million tonnes CO2-e over the project’s 30-year lifetime.” Danish wind farm manufacturer and supplier Vestas will supply the turbines. The CEFC commercial debt package crowds in an additional $1.8 billion of private sector capital, it said, including 100 per cent equity from clean energy investor TagEnergy, in its first Australian investment, as well as debt providers including Westpac, Bank of China, Mizuho, German state-owned investment bank KfW, the Commonwealth Bank, and Danish Credit Export Agency EKF.
Adbri sells industrial land
Building products group Adbri has agreed to sell its land at Moorebank, NSW and Kewdale in Western Australia. The company will receive cash of $57 million for the Moorebank site and $5.7 million for Kewdale, with the sales expected to be completed in December. CEO Mark Irwin said: “The sales form part of the company’s ongoing and accelerated strategy to realise value and recycle capital from our surplus land holdings.”
Monash-led report report on energy management released
A new report led by Monash University researchers reveals new foresights for energy management in Australian households, according to the university. The Digital Energy Futures: Foresights for Future Living report from the Emerging Technologies Research Lab (ETLab) at was released on Wednesday and analysed views from 72 households in Victoria and NSW. Lead author and ETLab Director Professor Sarah Pink said the energy sector has to rethink and adapt new practices to support the changing behaviour of consumers. “Our research shows that there are changing needs within households with more expectations towards collaboration with the energy system, tailoring and customising technologies to individual energy needs and wanting a values-led social benefit approach to energy consumption,” said Pink. The research also predicts a significant switch to electric vehicles and households are looking for better energy infrastructure and battery charging facilities to support this changing need.
UOW prepares to hold Showcase 2022
The Innovation and Commercial Research Unit (ICRU) of University of Wollongong is preparing to host Showcase 2022, a free December 1 event celebrating the contributions of researchers to the Illawarra industry and community. According to the university, it has generated over $32 million in commercial research, had 32 patents granted and launched six spinout companies — including Hysata and Sicona — that have raised more than $50 million. The showcase will the be held at the Innovation Campus Central Building between 2 pm and 8 pm. Dr Paul di Pietro, UOW Dean of Research Knowledge Exchange and Translation, said, “We have so many hard-working, dedicated and passionate researchers who are experts in their fields and want to make a difference. This event aims to take stock, identify our exemplars, many of whom are quiet achievers, and acknowledge them and their work in a meaningful way. More information is available here.
Queensland holds green aviation fuel roundtable
A roundtable was held on November 25, which according to the Queensland government linked “key industry players to launch a pathway for Queensland to capitalise on the global shift to green jet fuels.” According to deputy premier Steven Miles, global airline targets of net zero by 2050 through new fuels presented “a tremendous opportunity” for the state to become “the nation’s leader in a new export industry with huge economic and environmental benefits.” Miles cited the state’s supply chain benefits presented by Queensland’s biofuel feedstocks such as tallow and sugarcane. The roundtable was attended by representatives from across the industry included Boeing, Qantas Airways, Virgin Australia, Brisbane Airport Corporation, Ampol, Australian Sugar Milling Council and Bioenergy Australia.
Picture: credit Carbon Revolution