Manufacturing News


Manufacturing news briefs – stories you might have missed

Manufacturing News




Queensland science strategy to support new industries

The Queensland government has launched a Future Queensland Science Strategy 2024-2029 which aims to capitalise on fields such as renewable energy, climate change mitigation and quantum and advanced technologies. It will seek to generate and translate Queensland’s scientific endeavours into new industries and investment. Science Advisory Council Queensland will also be established to guide science priorities and advise on national and international opportunities for research. Queensland Chief Scientist Professor Kerrie Wilson said: “We are confident the Future Queensland Science Strategy will provide the framework we need to generate and translate globally significant science into prosperity and wellbeing for all Queenslanders.”

BrainChip announces $25 million capital raising

AI technology developer BrainChip Holdings has announced an equity raising of $25 million. The company has completed a fully underwritten $20 million institutional placement and a $2 million sale of existing securities from LDA Capital. The company also revealed a share purchase plan to raise $3 million. The funds will be used to commercialise the company’s Akida 2.0 neuromorphic processor chip technology and its TENNs algorithm.

Austin Engineering’s strong year

Mining equipment manufacturer Austin Engineering has reported strong operating cashflow in FY24, expected to exceed $37 million. The company has a net cash position of $9.6 million, improved from a net debt position of $14 million at end FY23. The company confirmed its previous NPAT guidance of $31 million- $33 million, up ~75 percent, and order book of $186.3 million, up 30 percent. Austin CEO and Managing Director David Singleton said: “We’ve made investments in building our sales, customer support and management teams, which have increased sales, utilised our expanded capacity, and generated continued order book growth.”

Queensland backs future regional industry with $76 million scheme

The Queensland government has launched a $76 million fund to support regional jobs in future industries across regional Queensland. Regional Transformation Strategies will fund 59 projects in new and emerging industries with a focus on renewables and decarbonisation. The regions are considered to have unique opportunities to support newer industries like critical minerals, renewable energy, hydrogen and biofuels, which will thrive in a decarbonised world. Premier Steven Miles said: “My government’s Regional Transformation Strategies will underpin our state’s low-emissions global economy, while supporting economic uplift in regional communities.”

New appointments to ARENA board announced

The federal government has announced new appointments to the Australian Renewable Energy Agency (ARENA) board. Climate and energy investor Justin Punch has been re-appointed as chair for his third term, while Senior Managing Director in Macquarie Asset Management (MAM) Real Assets Elizabeth O’Leary will continue in her role for a second term. Founding director of Alinga Energy Consulting Ruby Heard and energy sector strategist Dr Dean Travers were each appointed as board members for their first term. The Minister for Climate Change and Energy Chris Bowen said: “ARENA’s work is instrumental to advancing emerging renewable energy technologies and innovation in Australia’s renewable energy sector. Justin and Elizabeth’s re-appointments to the board ensures certainty as ARENA continues to play a critical role in Australia’s energy transition and delivering a Future Made in Australia.”

Arafura Rare Earths raises new capital

Arafura Rare Earths has received firm commitments for its fully underwritten placement of new fully paid ordinary shares to raise $20 million. The placement was well supported, with high levels of institutional participation that included leading investor groups domestically and abroad. $5.8 million of the placement is subject to shareholder approval. Funds raised will support critical path activities – the company is developing the Nolans rare earth mine and refinery in the Northern Territory – as well as compliance and progressing improvement ideas that reduce capital, schedule and risk.

New ACCC Commissioner appointed

Australian Competition & Consumer Commission Chair Gina Cass-Gottlieb has welcomed the appointment of Dr Philip Williams as a Commissioner, proposed by Treasurer Dr Jim Chalmers in April. “We are delighted to welcome Dr Williams and look forward to harnessing his immense knowledge in economics and competition law in our application of Australia’s merger laws,” Cass-Gottlieb said in a statement on Monday. Williams is described as a distinguished scholar and former Professor of Law and Economics at the University of Melbourne, former executive chair of Frontier Economics, and a previous adviser to the ACCC and National Competition Council on competition and regulatory issues. Williams is appointed for a five-year term at the ACCC, commencing June 27.

Psychiatry professor joins Tryp’s Scientific Advisory Board 

ASX-listed clinical-stage biotech company Tryptamine Therapeutics has announced the appointment of Professor David Castle to its Scientific Advisory Board. Tryp — which is focussed on development of a scalable intravenous-infused psilocin formulation which can be used in conjunction with psychotherapy — said Castle is “a leading psychiatric scholar who was recently appointed by the Tasmanian Government as Professor of Psychiatry at the University of Tasmania’s Centre for Mental Health Service Innovation”. Castle has focused his clinical and research work on mental health, and has a major current interest in psychedelic treatments to achieve improved health outcomes in psychiatry. CEO Jason Carroll said, “We strongly believe that his addition to our SAB will be truly beneficial, not just due to  his professional input to the Company’s clinical program, but also in the support of patients and clinicians as we develop a path for the registration, approval and clinical use of IV-infused psilocin for those that are in medical need.”

Clear Gas joins Australian Made

Clear Gas, an Australian-owned company that produces calibration gas mixtures in disposable cylinders, has received the Australian Made and Owned logo. In a statement on Linkedin last week, Clear Gas said the logo is a mark of authenticity and superior standards “Our journey has always been about providing the best for our customers, and this recognition underscores our dedication to quality, innovation, and sustainability. We couldn’t have achieved this without the incredible support from our team, partners, and loyal customers” it added of the milestone.

Steel Cement secures development licence approval

The Victorian EPA has approved a development licence application from Steel Cement to expand their existing slag grinding facility in an industrial area of Yarraville. Steel Cement operates an existing licensed facility on Francis Street, Yarraville, and applied to expand their facility in two stages, adding two cement mills and storage areas. “Once operating, the plant would import and process cement materials,” said the EPA in an announcement on Friday. “At full capacity approximately 1.5m tonnes of cement would be produced per year.”

Picture: credit Austin Engineering



Share this Story
Manufacturing News



Stay Informed


Go to Top