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Cyclopharm raises $20 million, seeks another $2 million

Radiopharmaceutical imaging company Cyclopharm has successfully completed its institutional placement, raising $20 million before costs. The Placement attracted strong demand from both existing shareholders and from new institutional and sophisticated investors in Australia, Hong Kong, and the UK. A share purchase plan to raise up to $2.0 million has also been launched. Funds raised are earmarked for the rollout and expansion of Technegas imaging machines and consumables in the USA. Cyclopharm Managing Director James McBrayer said: “This funding represents a step change in our ability to achieve growth for shareholders and ensures that we are fully funded to deliver on our expectation of consolidated profitability in H2 2025.”

Eden Innovations reveals new sales in USA, Ecuador

Carbon fibre nanotube concrete additive company Eden Innovations has made its first sales to one Holcim cement plant in the USA and two in Ecuador worth a total of $152,125. The sales are of EdenCrete Pz7, which improves the strength and reduces the carbon content of cement. All three plants will utilise bulk storage and dispensing systems for the additive. These orders follow two years of extensive trials by Holcim in six countries of the EdenCrete Pz product range, in both new and standard concrete mixes, frequently incorporating higher percentages of low cost, low CO2 footprint, pozzolanic cementitious materials.

Rio Tinto and BHP to trial electric haul trucks

Rio Tinto and BHP will collaborate on the testing of large battery-electric haul trucks in the Pilbara, Western Australia, and could deploy the electric vehicles in their fleets. The two companies will work with manufacturers Caterpillar and Komatsu (pictured) to trial their battery-electric haul trucks to assess performance and productivity in the Pilbara environment. BHP and Rio Tinto have the ambition of net zero operational greenhouse gas emissions by 2050. As part of the collaboration, two Cat 793 haul trucks will be trialled from the second half of 2024, and two Komatsu 930 haul trucks tested from 2026. Rio Tinto Iron Ore Chief Executive Simon Trott said: “There is no clear path to net zero without zero-emissions haulage, so it’s important that we work together to get there as quickly and efficiently as we can. Testing two types of battery-electric haul trucks in Pilbara conditions will provide better data, and by combining our efforts with BHP we will accelerate learning.”

Ampcontrol-powered Steber hybrid boat claims innovation award

A 43-foot battery-electric hybrid boat developed by Ampcontrol, Steber International, and The University of Newcastle won the Marine Industry Innovation of the Year award at the Australian Superyacht, Commercial Marine and Export Awards at Queensland’s Sanctuary Cove last week. The craft’s 600 kilowatt plug-in hybrid power and propulsion system was designed by Ampcontrol engineers, and according to the company allows it to be “efficient, quiet, and emission-friendly without compromising on the cruising range.” Ampcontrol Managing Director and CEO Rod Henderson said, “We are proud to be at the forefront of innovation demonstrating how the energy transition can be achieved across all industries through collaboration. Making our mark in the marine industry with this award-winning project, displays the passion of Ampcontrol to challenge the future.

National rail project procurement database launched

A new national procurement database providing “a one-stop-shop of rollingstock projects” was announced on Monday. The Australasian Railway Association (ARA) welcomed the launch of the National Rolling Stock Procurement Pipeline, which aims to provide a snapshot of present and future rollingstock projects across states and territories and is the first major initiative by the Office of National Rail Industry Coordination (ONRIC) under the Rail Procurement and Manufacturing Strategy. ARA CEO Caroline Wilkie said her body “has advocated strongly for measures to improve the transparency, certainty and coordination of a rail procurement pipeline to better support opportunities for local manufacturers of passenger and freight trains” adding that the pipeline “will provide a collaborative, transparent and more efficient system for procurement, supporting the growth of local businesses across the rail manufacturing supply chain.” The database was developed by the Department of Industry, Science and Resources in consultation with industry, and will include procurement location, estimated value, status, timeframe and type for new fleets and fleet upgrades and will include different rollingstock types, from heavy rail to light rail and metro. It can be accessed here.

Get A Grip Tyres joins tyre stewardship scheme

Tyre Stewardship Australia (TSA) welcomed Get A Grip Tyres as a new contributor and participant in the nation’s Tyre Product Stewardship Scheme on Monday. Get A Grip Tyres has been operating for over 20 years in Western Australia and offers a range of tyre services including business-to-business wholesaling, fleet  management, logistics, tyre maintenance and tyre manufacturing. From May 2024, Get A Grip will contribute to the Scheme by paying a voluntary levy on every brand  they import and sell into the Australian market, helping fund TSA’s pursuit of solutions for Australia’s waste tyre problem, “from investing in the design and manufacturing of products that use tyre derived material to building markets for those products”, said TSA. “As a contributor to the Scheme, Get A Grip will help us get more dollars flowing in the right direction  to increase the recovery and recycling of used tyres, strengthen markets for tyre-derived material, while minimising environmental, health and safety impacts,” said TSA CEO Lina Goodman. 

Picture: Komatsu/Komatsu battery-electric haul truck

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