Weld Australia has said that the nation’s welders are more than capable of building the new fleet of eight nuclear-powered submarines agreed to in the $368 billion AUKUS deal this week, though the biggest risk facing the submarine build is whether enough skilled welders can be recruited and trained. The welding industry body has called for a Shipbuilding Welding Academy to be established and funded by the federal government. “There has been some discussion in the media over whether the quality of Australian welders is sufficient to build the proposed AUKUS nuclear-powered submarines. Australia’s qualified welders are more than [capable] of building the new fleet,” said Geoff Crittenden, CEO of Weld Australia. Crittenden said the biggest risk was not welder capability, but the recruitment and training of enough skilled welders, with a predicted shortage of 70,000 welders by 2030, even before the AUKUS submarine announcement this week.
K-TIG Completes $2 million capital raise
Welding technology company K-TIG announced on Thursday that has raised $2 million (before costs) from sophisticated and existing investors through the issue of 2,000 convertible debt notes. The notes will automatically convert into fully-paid ordinary shares on completion of a future capital raising, the company said. Proceeds from the raise would be used “to support sales momentum, progress the UK nuclear strategic initiatives, expenses of the raise and for working capital purposes.”