Manufacturing News

Manufacturing news briefs – stories you might have missed

Manufacturing News

ABT’s record growth in FY23

Sealed heavy vehicle brake manufacturer Advanced Braking Technology has announced revenues of $14.7 million for FY23, a 25.1 percent increase on the previous year. The company was able to increase sales margins during the year by 5.97 percent to 49.9 percent. Net profit after tax was $1.47 million, a 129 percent increase while the company ended the year with a positive cash position of $2.05 million. ABT’s CEO Andrew Booth said: “This financial year end result marks a number of milestones for ABT in revenue, product sales, gross margin, operating cashflow and profitability. ABT continues to build on the quality of its product offering, providing a failsafe, reliable, cost effective brake safety solution.” In June ABT completed its relocation to new premises in Wangara, Western Australia.

Alpha HPA produces 150 tonnes of high purity alumina

Gladstone, Queensland critical minerals manufacturer Alpha HPA has successfully produced more than 150 tonnes of 5N (99.99 percent) purity high purity alumina (aluminium nitrate) in its demonstration facilities (pictured). During the latest quarter the company also produced demonstration quantities of HPA products destined for lithium batteries, LED lighting and semiconductors. This demonstration production is the company’s first commercial scale production. Meanwhile HPA circuit equipment installation progressed in the latest quarter at at its Stage 1 Precursor Production Facility (PPF) with first areas of the plant now in the commissioning phase. This project is supported by $15.5 million from the federal government’s Critical Minerals development Program. Stage 1 is capable of producing 10,000 tonnes of HPA equivalent per year, with Alpha HPA now expanding its product marketing activities and refining its process flow sheet.

Cann Group on track to harvest 12.5 tonnes of cannabis

Medicinal cannabis grower and manufacturer Cann Group has confirmed it has completed its first harvest at its new doubled production scale at its Mildura growing facility. this is a key step to achieving the company target of a 12.5 tonne harvest from its 320 square metre crop area and reaching EBITDA profitability by FY25. The harvest was achieved ahead of schedule with high quality dry flower yield 17 percent ahead of target. The crop area harvested equates to a an annualised production level of eight tonnes. Cann Group CEO Peter Koetsier said: “This is a tremendous achievement by our production team at Mildura and gives us strong confidence that we are on track to reach our 12.5 tonne annualised volume target.”

Osteopore partners to manufacture in China

Bone and tissue regeneration company Osteopore has teamed up with CellHeal which will commit $10 million to commercialise the company’s products and establish manufacturing facilities in China. Osteopore and CellHeal have signed a terms sheet which includes provision for a royalty of between 10 and 20 percent as a percentage of net sales. The two companies are now working to execute a non-exclusive licensing agreement to develop and manufacture select applications for Osteopore’s cell growth technologies. Osteopore’s 3D printed biomaterials form a scaffold for the regeneration of bone and tissue, later dissolving in a patient’s body. Osteopore’s products do not yet have regulatory approval in China or Macau.

SciDev’s bumper year driven by major new contracts

Water treatment company SciDev has revealed Q4 revenues of $19.2 million and unaudited FY23 revenues of $89.9 million, a rise of 62 per cent on the prior year. Underlying EBITDA was $4 million with a YTD cash inflow of $5 million. SciDev has cash of $7.7 million and $7.1 million of inventory. CEO Sean Halpin said growth had been underpinned by major new contracts including with Iluka resources, Cleanaway Waste Management and Sydney Metro West. SciDev is also working on a number of PFAS treatment and remediation projects.

Tasmanian government urges companies to consider plastic recycling grants

The Tasmanian government has encouraged local businesses to apply for project funding from the $60 million Recycling Modernisation Fund Plastics Technology Stream, announced last week. Environment minister Roger Jaensch said, “Because Tasmania is not guaranteed a share of the federal funding, we need to ensure our waste and recycling sector puts forward strong proposals and we will support the best of them to maximise their chances in the federal process.” The initial application process for Tasmanian projects will be administered by the Department of Natural Resources and Environment Tasmania (NRE Tas), with more information available here.

GFG Alliance appoints new executives

Three new leaders have been appointed to GFG Alliance’s executive leadership team across its sustainable energy, capital markets, and InfraBuild divisions. Stefan Håkansson, a highly experienced senior executive at the European energy group E.ON has been appointed as Global Head of Sustainable Energy Projects. Paul Altschwager has been appointed as Chief Capital Officer, joining from international energy and convenience retailer EG Group, where he was Group CFO. And Francisco Irazusta has been appointed CEO and Executive Director of InfraBuild, joining from the listed seamless pipe producer Tubos Reunidos, where he was Chairman and CEO.

Australia joins new hydrogen forum

Australia has joined 14 countries, including Germany, Japan and the United Kingdom, in the new International Hydrogen Trade Forum (IHTF), which aims to improve the market for importing and exporting green hydrogen across the world. According to a statement from the federal government this week, “The new International Hydrogen Trade Forum (IHTF) will bring countries together to work through issues and build productive conditions for a reliable international hydrogen trade market.” It added that Australia’s participation builds international collaborations in hydrogen including the Hydrogen Headstart Program and Guarantee of Origin Scheme.

Picture: Alpha HPA

Share this Story
Manufacturing News

Stay Informed

Go to Top