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Legrand Group announces acquisition of New Zealand’s Mechanical Support Systems

Electrical equipment company Legrand has announced its acquisition of Mechanical Support Systems (MSS), a New-Zealand based company that offers cable management solutions for the electrical and mechanical sectors. MSS’ services include cable containment manufacturing, supply, installation and design, as well as bespoke fabrication. “While we are a global company, we are very local in our approach and committed to investing in our ANZ operations to offer tailored solutions for this market,” said Palash Nandy, CEO at Legrand ANZ on Wednesday. “Our expanded offering in cable management will enable us to offer more comprehensive solutions to growth sectors such as data centres.”

Ainsworth’s strong half year built on new products

Gaming machine manufacturer Ainsworth Game Technology has reported a strong second half result CY23 resulting in a full year profit before tax of $41.5 million, up 10 percent on the previous year. Revenues were up 17 percent in CY23 to reach $284.9 million – international sales accounted for 80 percent of the total. The company told investors that the development and release of new products had progressively improved product performance in global markets with revenues increasing in all regions and market segments. Total machines in operation at year’s end was 7,222, with 3,090 in North America and 1,286 in Asia Pacific.

ClearVue Technologies in $6m capital raise

Building-integrated photovoltaics company ClearVue Technologies has secured a $4 million share placement from institutional and professional investors and announced a $2 million share purchase plan for existing shareholders. The Perth company said the placement, made at a 21 percent discount to the 15 day volume weighted average price, was supported by existing and new institutional and professional investors. ClearVue Chief Executive Officer Martin Deil said the funds would be used to finalise testing for the company’s Gen-2 products, leading to anticipated sales in the second half of 2024.

Hexagon works to secure water for low emissions ammonia project

Hexagon Energy Materials has executed a key terms agreement with the Water Corporation of Western Australia aiming to secure a water supply for the company’s planned WAH2 ‘low-emissions’ ammonia project aimed at exports to Asia. The parties will work together to negotiate a definitive agreement for the supply of water to the project. The project utilises natural gas as a feedstock and carbon capture and storage technology. Hexagon Chief Executive Officer Stephen Hall said the agreement removed the capital costs associated with a desalination plant and pipelines, and power and fuel gas requirements form the project.

Titomic remains in loss after revenue growth

Additive manufacturing machinery manufacturer Titomic has reported strong revenue gains in the first half 2024, up 50.9 percent to $4.2 million. The company’s after tax loss was down 18.5 percent to $5.9 million. During the period Titomic received orders for its high pressure Titomic Kinetic Fusion systems from Sabanci University and Air France subsidiary EPCOR and completed the installation of systems at Perron038. The company also made sales of three low pressure systems, received orders from Boeing for prototype 3D printed parts and was selected by Airbus as a supplier of cold spray equipment. Titomic also entered a partnership with entered into a manufacturing partnership – metal additive manufacturing company diverse manufacturer Stärke Advanced Manufacturing Group.

CSIRO offers one million AI scholarships

Artificial intelligence (AI) ‘scholarships’ are now on offer to one million Australians, in a bid to increase the nation’s literacy of a technology estimated to be worth $4 trillion to the economy by the early 2030s. The free ‘Introduction to Artificial Intelligence’ microskill course is provided by the National AI Centre (NAIC), coordinated by Australia’s national science agency – CSIRO, and the Institute of Applied Technology Digital (IATD). The course will provide a non-technical introduction to AI fundamentals and is considered ideal for workers seeking to upskill, individuals starting their career in AI, and small to medium business owners. With many small to medium enterprises (SMEs) grappling with the challenge of adopting AI, NAIC Director Stela Solar said the course is the perfect opportunity for business owners to build their AI understanding. Solar said: “SMEs make up over 98 per cent of Australia’s economy, and ‘Introduction to AI’ is their opportunity to learn how they can use this revolutionary technology to enhance their operations, services, and market competitiveness.”

Nova Systems appoints new CEO

Australian engineering services and technology solutions company Nova Systems has announced Dean Rosenfield, who recently relocated from London, as the company’s new CEO. In a statement from Nova, Rosenfield is described as a highly experienced senior business leader with over 20 years’ experience in the defence industry, “I have watched with interest as Nova Systems has grown its global footprint with offices based in  Australia, the United Kingdom, Ireland, Norway, Singapore and New Zealand as the company  continues to extend its capability and services to the rest of the world,” said Rosenfield on Monday. “Nova Systems is a trusted and independent Australian owned and operated company with a  growing global footprint making it well positioned to support the realisation of the critically important AUKUS partnership.” Prior to joining Nova, the new CEO was a Senior Vice President/Chief Marketing Officer of Saab AB, responsible for leading global business development and sales, and Group Managing Director at Saab UK, responsible for leading the UK business operating in the defence, public safety and underwater robotics sectors.

Diraq in hiring spree

Sydney-based quantum computing startup Diraq, which recently completed a Series A-2 capital raise of $29 million, has announced that 14 positions are currently open at the company. Describing itself as “on a mission to deliver on the profound potential of full scale, fault-tolerant quantum computing”, the company posted on Linkedin that is “currently recruiting for passionate and driven individuals to be a part of our growing team” globally. The roles include  Cryo-Lab Manager, Measurement Software Engineer, IC Design and Layout Engineer, and Senior Systems Engineer. Visit here for more information.

Picture: Titomic

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