ClearVue Technologies announced it has raised approximately $7.5 million through an institutional placement to advance its commercialisation efforts in the U.S. and support global operations.

The placement will see the issuance of 23.4 million fully paid ordinary shares at A$0.32 per share, representing a 21 per cent discount to the company’s last closing price on 14 October 2024, and a 24 per cent discount to its 15-day volume-weighted average price.

“A primary objective for the board and management has been to introduce the company to the institutional investment market,” said ClearVue CEO Martin Deil. 

“The current capital raise has successfully expanded our registry to include a diverse mix of new institutional and professional investors, who constituted the majority of the placement, with a smaller portion coming from sophisticated investors.”

Deil noted that many of the new institutional investors are based in Hong Kong, a key market for ClearVue in Asia. 

“The Hong Kong market is a key focus for the company, as evidenced by our engagement with the Hong Kong government through the EMSD solar glass study announced in March 2023,” he said. 

“The study is continuing but importantly has led to several commercial discussions that we anticipate will convert to sales in the future.”

The funds will be allocated towards expanding the company’s operations in the United States, including infrastructure and staffing to support its growing sales pipeline.

Additionally, ClearVue said it aims to invest in systems and inventory to strengthen global sales capabilities.

“A secondary objective through this raise has been to ensure the company is funded for the next steps in its commercialisation journey,” Deil added. “Funds raised will support execution of our growing sales pipeline through additional staff and infrastructure in the US.”

ClearVue also said it plans to use a portion of the capital to develop software systems, including an ERP system for global product delivery, quality assurance, and data collection from completed projects. 

These systems will enable the company to track energy and carbon performance, positioning it to benefit from future carbon credit regimes.

The placement builds on ClearVue’s earlier capital raise, which supported the development and testing of its Gen-2 products and led to several early projects, including collaborations with CFMEU in Melbourne and Prefabulous in New South Wales.

Bell Potter Securities Limited acted as the lead manager for the placement. Settlement of the new shares is scheduled for October 22, with the shares expected to be allotted on 23 October..

The issue will utilise the company’s existing ASX Listing Rule 7.1 placement capacity, accounting for approximately 9.7 per cent of ClearVue’s current shares on issue. 

The newly issued shares will rank equally with the company’s existing fully paid ordinary shares.

“We are also pleased to have completed the raise despite real or perceived market uncertainties, including those surrounding the upcoming U.S. election in November,” Deil concluded.

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The Australian Government is positioning Dubbo as a central hub in its strategy to enhance Australia’s critical minerals and rare earths industry in New South Wales. 

This initiative includes a funding boost for Australian Strategic Materials Limited (ASM), a key player in the sector, the government Australian Strategic Materials Limitedin a media statement.

Under the International Partnerships in Critical Minerals Program, the Commonwealth will provide $5 million to ASM to fund up to 50 per cent of a study aimed at discovering more efficient refining methods for rare earths at its mine and processing plant. 

This funding builds on a $6.5 million grant from last year’s Critical Minerals Development Program, which supports mining, separation, and refining processes at the Dubbo project.

ASM has also received a non-binding Letter of Interest from the Export-Import Bank of the United States for up to US$600 million to assist with project construction. 

Additionally, Export Finance Australia has provided a letter of support for $200 million in debt funding.

The Dubbo Project is set to produce critical minerals, including zirconium, niobium, and hafnium, along with various rare earth elements, many of which are vital to the defence industry. 

The project is expected to create up to 1,000 local jobs during construction and approximately 270 permanent positions once operational.

Minister for Resources and Northern Australia, Madeleine King, emphasised the government’s commitment to supporting the critical minerals and rare earths industry. 

“Government support to refine rare earths is important for our sovereign capabilities and will help our trading partners meet their economic, national security, and emission reduction commitments,” she stated.

Further backing will come from the Albanese Government’s plan to introduce Production Tax Incentives for critical minerals processing.

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Q-CTRL, a leader in quantum infrastructure software, announced the expansion of its Series B Funding Round to USD 113 million (AUD 166 million), securing USD 59 million in new capital. 

The Series B-2 all-equity round was led by the global venture firm GP Bullhound, resulting in an increase in the company’s valuation.

“We’re very excited that GP Bullhound has led this round,” said Q-CTRL CEO and Founder Michael J. Biercuk.

“Their experience and international presence will support our expansion.”

New investors include Alpha Edison, Lockheed Martin Ventures, NTT Finance, Salus Group, and TISI, alongside contributions from existing investors such as Alumni Ventures, DCVC, and Salesforce Ventures.

“We are thrilled to support Q-CTRL in unlocking the full potential of quantum technology,” said Per Roman, GP Bullhound founder and managing partner.” 

“Quantum computing and sensing will reshape industries like finance, transport, and pharmaceuticals. Our investment reflects our commitment to backing visionary companies.”

Biercuk added, “Our focused view that software can be the key enabler of quantum hardware across all applications has become a key driver of new capabilities in the field, and underpins our major commercial partnerships with leading quantum platform vendors.”

John Eales, global rugby legend and business leader, remarked, “Q-CTRL has been a fascinating investment. Partnering with large global enterprises reinforces the validation of our investment strategy.”

With this funding, Q-CTRL said it plans to enhance its investment in quantum control research and development, as well as product engineering, to support an expanding portfolio of clients that includes Fortune 500 companies, government departments, and quantum platform providers. 

The company, which employs over 130 people, has already seen significant commercial success, highlighting a potential for growth and value creation with this new investment.

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The Queensland Government is set to energise the local battery manufacturing industry with an investment in a pioneering manufacturer of long-duration energy storage systems. 

Energy Storage Industries – Asia Pacific (ESI) is establishing Australia’s first manufacturing plant dedicated to grid-scale batteries at a commercial-scale facility in Maryborough.

The Miles Labor Government’s $25 million debt and equity investment has successfully attracted an additional $40 million from a UK-based investment fund, accelerating the development of this critical local industry. 

Early works have commenced at the Maryborough site, which, when fully operational by mid-2029, is expected to create up to 273 full-time jobs.

ESI will enhance its manufacturing capabilities through technology licensed from Oregon-based ESS, Inc, the government said in a media statement.  

This flow battery technology promises to deliver extended energy storage durations of up to 14 hours—an essential feature as the global community strives for decarbonization and increased clean energy generation.

“By partnering with local industry and attracting private capital, Queensland is well-placed to seize the incredible opportunities presented by the world’s decarbonisation,” said Cameron Dick, Deputy Premier, Treasurer, and Minister for Trade and Investment.

“Our investment in ESI is part of our commitment to firmly establish a new battery manufacturing industry right here in Queensland. 

He added, “Through investments like this we meet our own future clean energy storage needs and take advantage of the massive export opportunities.”

Meanwhile, Minister for Energy and Clean Economy Jobs, Mick de Brenni, also highlighted the importance of this initiative.

“Investors are buying into Queensland’s clean economy future thanks to the Miles Government’s world leading Energy and Jobs Plan,” he stated. 

“Today’s announcement of more than 270 skilled jobs in Maryborough is further proof Queensland’s decarbonisation is creating new jobs in the regions.

De Brenni contrasted the current investment climate with previous administrations, asserting, “It’s a stark contrast with the LNP who laid off Maryborough rail workers and sent their jobs overseas the last time they were in office.”

State Member for Maryborough Bruce Saunders expressed his support for the initiative, saying, “Maryborough has a proud manufacturing history, and this investment ensures there will be manufacturing jobs in Maryborough for years to come.” 

He added, “This investment demonstrates the Miles Labor Government’s Queensland Battery Industry Strategy is delivering the good manufacturing jobs of the future, especially in regional Queensland.”

Stuart Parry, ESI Asia Pacific Managing Director, underscored the significance of the project. “ESI is a Queensland-based, Australian-owned manufacturer of proven grid-scale battery technology that solves a key problem in the energy transition—how to provide renewable grid-scale energy overnight,” he explained.

“Thanks to this far-sighted support from Treasury and private investors, the first production of Australian-made grid-scale batteries will take place in Queensland by the end of 2025,” Parry noted. 

“ESI is targeting the delivery of 400 megawatts (MW) of energy storage annually from 2029—enough to power a city the size of Toowoomba each year.”

He also emphasised the local economic impact, stating, “Importantly, key battery components will be sourced from throughout Queensland, supporting businesses and creating skilled jobs in local communities.”

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The Australian Academy of Technological Sciences and Engineering (ATSE) has released a comprehensive vision for Queensland’s future, calling for significant investment in the state’s tech workforce to ensure the growth of new industries. 

This comes as the state prepares for its upcoming election, with the ATSE emphasising the need for Queensland to capitalise on advancements in renewable energy, digital innovation, and manufacturing, the organisation said in a news release. 

ATSE has proposed five key actions to unlock the full economic and social potential of the state:

1. Increase investment in digital skills in regional areas
2. Implement policies that incentivise efficient energy solutions
3. Develop a state-wide sustainable water management plan
4. Foster the adoption of emerging technologies
5. Create an integrated population and land use plan.

Recent federal and state investments, including the $1 billion Solar SunShot initiative and $940 million in PsiQuantum’s start-up venture, have laid the foundation for new lucrative industries in Queensland. 

However, ATSE stressed that the success of these sectors hinges on a strong STEM (Science, Technology, Engineering, and Mathematics) workforce, which requires targeted support at every educational and career level.

ATSE also pointed to a need for improving digital literacy in regional and remote areas. The 2023 Digital Inclusion Index revealed that digital access in remote areas scores six points lower on average than in major cities.

Kylie Walker, CEO of ATSE, highlighted the state’s underinvestment in innovation, stating that Queensland allocates only 0.07 per cent of its Gross State Product to developing new technologies. 

“Innovation and technology are the foundations for economic growth and prosperity.?We call on all candidates in the Queensland election to engage with the innovation sector to build a more prosperous future for all Queenslanders and lock in the gains the state has made in developing pioneering new industries,” Walker stated.

Dr Sue Keay, chair of ATSE’s Queensland Division, echoed these sentiments, urging the government to prioritise STEM education and industries.

“Queensland has the ability to lead the nation as Australia’s innovation state, but we must invest in STEM education and industries,” she said.

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The Australian Research Council (ARC) announced an investment of $92.9 million to fund 200 research projects led by early-career researchers across the country. 

This funding, part of the ARC Discovery Early Career Researcher Award (DECRA) scheme, aims to drive innovation and address critical challenges in various fields, the council said in a news release. 

Among the funded projects are initiatives that could revolutionise plastic recycling and enhance agricultural productivity. 

The University of New South Wales, for example, has been awarded $458,331 to develop new catalysts that convert plastic waste into high-value chemicals, potentially enabling the creation of new virgin plastics from recycled materials. 

Another notable project is from the Australian National University, which received $467,603 to improve the efficiency of nitrogen use in crops. 

By advancing the understanding of how plants utilise nitrogen during grain filling, the research could lead to increased crop yields with less fertiliser, reducing costs and environmental impact.

Dr Richard Johnson, acting CEO of the ARC, highlighted the broader impact of the DECRA scheme. 

“The ARC Discovery Program has an impressive track record in generating new knowledge that addresses significant gaps,” he said. 

“These projects not only enhance Australia’s research and innovation capacity but also pave the way for new technologies, economic growth, and improved quality of life.”

Additional projects funded under the DECRA scheme include research on digital learning at the University of Wollongong, studies on Indigenous heritage by Monash University, and climate research at the University of Tasmania. 

Each of these projects promises to contribute valuable insights and innovations in their respective fields.

For a full list of funded DECRA projects, including a snapshot of funding by State and Territory, please visit the ARC website.

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A groundbreaking medtech facility backed by the Victorian Government is set to revolutionise the development of assistive technology by giving people living with disabilities a significant role in shaping their own solutions.

Minister for Skills and TAFE Gayle Tierney visited the LivingAT Facility at Medical Technology Victoria (MedTechVic), located at Swinburne University of Technology, to see firsthand how the space is facilitating collaboration among individuals with lived disability experience, their carers, allied health professionals, engineers, designers, and industry experts.

“The LivingAT Facility is a great example of what can be achieved when universities, government, and industry join the dots and bring lived experience, expertise, and industry into the one room,” said Minister Tierney.

The LivingAT Facility, supported by a $6.7 million investment from the Labor Government, is Australia’s first fully accessible research space dedicated to the development, prototyping, and manufacturing of assistive technology. 

This technology includes equipment, tools, software, and devices designed to help the elderly and those with disabilities perform daily activities.

MedTechVic has already utilised the facility to create three innovative prototypes aimed at transforming daily tasks for individuals with mobility challenges. 

During a series of workshops, the MedTechVic team collaborated closely with wheelchair users and people with disabilities to co-design products such as the Comfort Seat, GlideMate, and Sit & Stroll.

“This groundbreaking facility not only puts Victoria at the forefront of medtech innovation but also ensures that people with disabilities are directly involved in creating technology that enhances their lives,” said John Berger, member for Southern Metropolitan Region.

Since its inception, MedTechVic has forged 26 industry partnerships, developed six product prototypes ready for commercialisation, nine proof-of-concepts in development with industry, and initiated four R&D projects.

The Labor Government’s $350 million Victorian Higher Education State Investment Fund (VHESIF) is instrumental in financing capital works, applied research, and research infrastructure projects at universities to bolster productivity and stimulate Victoria’s economy.

Swinburne University has also benefited from VHESIF, receiving $5.2 million for the upgrade of the Ngarrgu Tindebeek supercomputer. 

This upgrade provides researchers with enhanced computing power to investigate diverse fields such as space exploration, brain function, and Earth sciences.

Professor Rachael McDonald, director at MedTechVic, highlighted the importance of the facility: “The co-design, development and use of the LivingAT Facility has been integral in MedTechVic’s mission to amplify the perspectives of people with lived experience of disability, especially in the design of assistive technologies.”

“MedTechVic is driving innovation in locally produced assistive technology, and our co-design process ensures that the needs and experiences of end-users are central throughout product and service development,” concluded Professor McDonald.

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The Australian Government’s $20 million investment in advanced recycling technology will annually divert over 14,000 tonnes of soft plastics from South Australian landfills.

Recycling Plastics Australia in Kilburn will spearhead this initiative, cleaning and purifying soft plastics such as shopping bags, chip packets, and food wrappers to create feedstock for new soft plastic packaging.

This project, which will create 45 jobs, aims to develop an advanced recycling supply chain that transforms soft plastic waste back into packaging, the government said in a news release.

“This funding is supporting new recycling infrastructure, helping to solve challenges with plastic waste and stop soft plastics from going to landfill, while also supporting jobs and industry,” stated the Minister for the Environment and Water Tanya Plibersek.

She added, “South Australians want to do their part to reduce their waste, reuse and recycle household products, and lighten their impact on the planet.”

Delivered in partnership with the South Australian Government, this project is among the first announced under the new Recycling Modernisation Fund Plastics Technology stream.

This $60 million stream funds solutions to increase Australia’s recycling and recovery rates for hard-to-recycle plastics, scale up collection schemes over time, and drive Australia’s transition to a safe circular economy.

“The South Australian government has been taking action to ban more and more unnecessary single-use plastic with bans on all soft plastic shopping bags and single-use plastic including coffee cups from 1 September this year,” said Deputy Premier of South Australia Susan Close.

“I applaud the Commonwealth for this significant investment which acknowledges both the need for this service, and the strength of South Australia’s existing resource recovery and recycling industry”

The Recycling Modernisation Fund is a national initiative expanding Australia’s capacity to sort, process, and remanufacture glass, plastic, tyres, paper, and cardboard.

With co-investment from all states and industry, the Fund will provide a $1 billion boost to Australian recycling efforts.

Nationally, the Federal Government is increasing recycling capacity by more than a million tonnes annually while creating over 3,000 jobs, including more than 600 in South Australia.

Peter Gregg, chair of Recycling Plastics Australia, emphasised the importance of this initiative: “Recycling Plastics Australia has a proud history leading the circular economy by recycling plastics that are difficult to process.”

“We are grateful that the Australian and South Australian Governments have supported this $40 million dollar project that is to transform soft plastics recycling in Australia.”

“This funding will see our Kilburn site in South Australia become the prominent soft-plastic recycling processor in the country, with materials recycled here and sold into local and global packaging markets,” Gregg noted.

This innovative Kilburn project coincides with Plastic Free July, a campaign encouraging Australians to reduce plastic pollution and waste.

The Australian Government is also supporting soft plastics recycling by improving packaging design through new national packaging laws that require packaging to be recoverable, reusable, recyclable, and reprocessable safely in line with circular economy principles.

“It’s great to see state governments committed to getting soft plastics out of landfill and working with industry to see a circular economy for soft plastics in Australia. This benefits the environment and the economy. For every job in landfill, there are three jobs in recycling,” Minister Plibersek added.

She added, “The Albanese Government is committed to working with states and territories to better manage waste and increase recycling capacity, including for soft plastics, and better protect our environment for future generations.”

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Sovereign Metals announced that Rio Tint has exercised all its share options, increasing its shareholding in Sovereign to 19.76 per cent.

In particular, Rio Tinto exercised 34,549,598 share options, acquiring the same number of new fully paid ordinary shares in Sovereign at A$0.535 per share, resulting in proceeds of A$18,484,035.

Sovereign said it plans to use the proceeds from Rio Tinto’s additional strategic investment to further advance Sovereign’s Tier 1 Kasiya Rutile-Graphite Project (Kasiya) in Malawi.

This includes progressing the current optimization study for Kasiya, which focuses on developing a mine capable of supplying critical minerals to the titanium pigment, titanium metal, and lithium-ion battery industries.

“Rio Tinto’s further investment in Sovereign reaffirms Kasiya’s position as one of the most significant critical minerals projects globally,” commented Sovereign’s Chairman, Ben Stoikovich.

“With Rio Tinto’s wealth of experience as one of the world’s largest and most accomplished global mining companies, Kasiya is well-positioned to potentially become a market leader in low-CO2-footprint natural rutile and graphite.”

Under the Investment Agreement between Sovereign and Rio Tinto, Rio Tinto will continue to provide assistance and advice on technical and marketing aspects of Kasiya.

Funds from the option exercise are expected to be received by Friday, 5 July 2024.

Sovereign’s Managing Director Frank Eagar stated, “In collaboration with Rio Tinto, we have made significant progress in advancing Kasiya over the course of this year, including the successful launch of the pilot phase mining in May.”

Eagar remarked, “We are excited about Rio Tinto’s further investment in Sovereign, which represents another significant step towards unlocking a major new supply of low-CO2-footprint natural rutile and flake graphite.”

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The Queensland Government has unveiled a comprehensive strategy to position the state at the forefront of quantum and advanced technologies manufacturing, introducing five competitive grant programs totalling over $50 million.

This initiative is part of a broader vision to establish Queensland as ‘The Quantum State’, supported by an $83.7 million investment over five years outlined in the 2024-25 Budget, the government said in a media statement.

“This budget allocation and the launch of these five grant programs affirms our commitment to advancing quantum technology and positioning Queensland as a provider of deep technology solutions for global opportunities and challenges,” stated Minister for Innovation and Science Leanne Linard.

Queensland Chief Scientist, Professor Kerrie Wilson, stressed, “By establishing Queensland as the ‘Quantum State’, we lay the foundation for an economy that is resilient and innovative, poised to harness the full potential of quantum and advanced technologies for a sustainable and prosperous future.”

The grant programs include a $20 million Quantum Commercialisation Infrastructure Program aimed at strengthening manufacturing infrastructure for quantum technology, a $15 million Co-Investment Fund to attract collaboration and investment in manufacturing advancements, and a $10 million Quantum Decarbonisation Mission focused on enhancing manufacturing processes for renewable energy technologies.

“These new grant programs further cement Queensland’s reputation as a global leader in quantum, attract and retain skills in quantum science, and use quantum technologies to help solve challenges such as improved renewable energy technologies and combating climate change.” Linard added.

“I am particularly excited by the potential of this technology to accelerate Queensland’s decarbonisation efforts and make leaps in sports technology,” the minister concluded.

For detailed information on eligibility and application procedures for these grant programs, visit Queensland Government’s Science website.

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