Jim Round to lead recycler VicReturn
VicReturn, the Scheme Co-ordinator of the new Victorian Container Deposit Scheme, has hit the ground running by appointing Jim Round as its inaugural CEO. Round brings a wealth of experience to VicReturn, including in leadership roles at the Victorian Department of Jobs, Skills, Industry and Regions as Deputy Secretary and as the Chief of Planning and Governance at the Victoria 2026 Commonwealth Games Organising Committee. He has previously worked as an economic adviser to Prime Minister Gillard and as a Director in the Office of the Premier, the Hon. Dan Andrews MP. VicReturn was announced by the Victorian Government last month as the Scheme Coordinator of the Victorian Container Deposit Scheme, CDS Vic, which commences on 1 November. VicReturn is a not-for-profit entity with members comprising some of Australia’s leading beverage companies: Lion, Coca-Cola Europacific Partners and Asahi Beverages.
Carbon Revolution merger confirmed for July, 2023
Carbon fibre road wheel manufacturer Carbon Revolution expects its merger with Twin Ridge Acquisition Corp to occur in July, 2023. The merger, which will recapitalise the Geelong, Victorian company and list if in the United States, is progressing well, according to a statement. The company has filed its F-4 statement which is an important milestone in the transaction with the U.S. Securities and Exchange Commission. Shareholder approval will also be required in Australia. Meanwhile the company reported March quarter 2023 results which reflected the start of one new wheel supply programme and the resumption of production of the Corvette ZO6 wheel. However revenue was down in the quarter to $7.1 million, a nine percent fall on the previous corresponding period. Ferrari wheel sales moderated during the quarter.
DXN receives first modular data centre order from Flow2Edge
Prefabricated modular data centre manufacturer DXN has received its first order from its exclusive global distributor Flow2Edge Holdings. The order is worth $590,000, and is in addition to a service contract executed with Flow2Edge worth $362,400 a year to the Sydney company. DXN’s Chief Executive Shalini Lagrutta said: “The DXN team are excited to be delivering our first module to Flow with this order. APAC is a massive market, and Flow is well positioned to become a leader in the edge data centre business across the region.” DXN continues to supply Australian customers.
Bluechiip raises $2.2 million, announces share purchase plan
Sample management solutions company Bluechiip announced the successful raise of $2.2 million (before costs) via a placement to institutional, sophisticated and professional investors, with 88.0 million new ordinary fully-paid shares at an issue price of $0.025 per ordinary share. The company said in an ASX statement that the placement was strongly supported by both existing and new shareholders, including existing substantial holders, with Chairman Iain Kirkwood supporting the placement by subscribing for a total of $100,000 worth of new shares. Bluechiip said it intends to use the proceeds for continued production scaling and sales expansion, especially in the North American market, and ongoing working capital. It also announced a share purchase plan, inviting all existing shareholders to subscribe for new shares at the same price as the placement.
Picture: credit Bluechiip