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Skykraft raises $120 million for satellite air traffic management

Satellite manufacturer Skykraft has raised $120 million from investors to spewed the rollout its satellite-based Air Traffic Management system. The Canberra company from investors including Foresight Group Australia, OPTrust, and Main Sequence, CSIRO’s venture capital arm. Following capital raising costs, the company aims to achieve initial operational capability of its system, a spin off from space capabilities incubator UNSW Canberra Space. Utilising over 200 satellites in a constellation, the space-based service will track aircraft globally. Currently, coverage is limited by the availability of ground-based infrastructure.

ECS Botanics goes cash flow positive on cannabis sales

Medicinal cannabis manufacturer ECS Botanics has reported a cashflow positive latest quarter, delivering free cash flow of $280,000. Receipts from customers of $4 million increased 58 percent on the previous corresponding period and revenue of $4.1 million was an increase 78 percent. ECS Botanics told investors a record 106,000 units of medicinal cannabis oils were ordered during the quarter, a 109 percent increase on the previous highest volume of 50,624 units in Q2, FY23. The company also completed an agreement with Steritech to provide contract packaging services to ECS customers in Australia.

Krix introduces the LX-7 Linear LCR

Top end speaker manufacturer Krix has revealed the new LX-7 (pictured) high performance passive soundbar speaker – a first from the Adelaide company. The soundbar is is the first of its kind from Krix and is available in three different sizes for all but the largest of TV’s and projector screens. Featuring left, centre and right channels, the LX-7 redefines expectations of what a ‘soundbar’ can achieve, according to Krix. Designed and manufactured in Australia, the LX-7 has been engineered for lounge rooms, media rooms, games rooms and dedicated home theatres, and is tonally matched to all Krix surround and overhead speakers. Krix Sales Manager Don McKenzie said: “Our dealers have been asking us to bring a high-performance soundbar to the market for a while. The LX-7is more than just a soundbar, it’s a sound experience.”

Elbit Systems appoints Anna Barba as CEO

Defence contractor Israel-based Elbit Systems of Australia has appointed Anna Barba as its new CEO. Barba has over three decades of experience in leadership, engineering, and program delivery roles in Australia and overseas. She has led multi-disciplinary teams in a multinational defense contractor, delivering large, complex programs for the Commonwealth of Australia, UK Ministry Of Defence, French Armed Forces, and Royal Canadian Navy. Anna will lead Elbit Systems of Australia, driving new business growth in Australia. Elbit provides systems, sensors and training to the Australian Army as well as aerial systems including unmanned aerial systems.

Australian Dairy Nutritionals sells off (a) farm

Australian Dairy Nutritionals has listed for sale one of its farms – the Brucknell South in Victoria’s Gippsland. The organic a2 milk produced at the farm is surplus to the raw milk requirements for the group’s Depot Road infant formula manufacturing facility, and the sale will not impact production of the company’s Ocean Road Dairies infant formula range. ADN’s remaining farm at Yaringa produced sufficient a2 protein milk to keep Depot Road at full capacity. The sale frees up cash as the company pursues a revised FY24 strategy, according to an announcement.

Picture: Kricks LX-7 sound bar

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