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.

The post ClearVue secures $7.5M investment to advance US and global ops appeared first on Australian Manufacturing.

A new report from Generation, a global employment nonprofit, highlights the experiences and challenges faced by midcareer and older workers as artificial intelligence (AI) becomes increasingly prevalent in the workplace.

The study, titled Age-Proofing AI: Enabling an Intergenerational Workforce to Benefit from AI, was conducted with support from Google.org and The SCAN Foundation, featuring insights from over 4,000 employees and employers across France, Ireland, Spain, the United Kingdom, and the United States.

The research indicates a troubling trend in hiring practices, particularly for entry-level and mid-level positions, as revealed in a media release.  

Employers in the US and Europe anticipate significant reductions in hiring, with projections ranging from 22 per cent to 64 per cent over the next year. 

Despite 89 per cent of employers acknowledging that midcareer and older workers perform at least as well as their younger counterparts, the new survey reveals a clear preference for younger candidates in AI-related roles. 

In the US, 90 per cent of hiring managers are inclined to consider applicants under 35, while only 32 per cent would consider candidates over 60. 

European employers showed a similar trend, with only 33 per cent open to older candidates compared to 86 per cent for younger ones.

The study found that only 15 per cent of workers over 45 report using generative AI tools in their jobs.

Among those who do, most are self-taught “power users,” employing AI multiple times a week to enhance various work activities. 

Notably, over half of these users reported improvements in quality, productivity, and decision-making due to AI. I

In the US, 35 per cent of older workers indicated increased job satisfaction from AI use, while this figure rose to 58 per cent in Europe.

However, the limited use of AI among older employees may mask the growth potential of these technologies in their roles. 

Many older workers, leveraging their experience, may excel at creating effective AI prompts and interpreting the results, even if they do not rely on AI as heavily as younger counterparts.

The report indicates that nearly half of US hiring managers (47 per cent) and 29 per cent of European employers have begun to provide AI tools to their workforce, with many planning to implement additional support in the coming year. 

More than 90 per cent of employers now offer some form of training for AI users, though only about half provide formal training programs.

The research also reveals mixed feelings among older workers regarding AI. Of those over 45 who do not currently use AI tools, 24 per cent in the US and 36 per cent in Europe expressed interest in learning to use them. 

However, approximately a quarter were neutral or unsure, and nearly one-third of US non-users, along with 17 per cent of European non-users, indicated a lack of interest in AI altogether.

Dr Mona Mourshed, Founding Global CEO of Generation, emphasised the importance of combining AI’s capabilities with human expertise. 

“This data underscores the importance of continuing to combat ageism, and points to an opportunity for us to take a more nuanced view in the AI-infused workplace of how to leverage the unique assets that workers of different ages and experience levels bring to the table,” she said.

Anika Heavener, Vice President of Innovation and Investments at The SCAN Foundation, echoed this sentiment: “AI is already transforming work as we know it, but at the same time, AI implementation has the potential to exacerbate ageism in the workplace.”

“Older workers offer unique skills and experience, and employers need to provide them with the training and support they need to reap the benefits of AI and successfully integrate the technology into their day-to-day jobs,” Heavener concluded. 

For further insights, read the full report here.

The post New study highlights midcareer workers’ challenges with AI in the workplace appeared first on Australian Manufacturing.

Australia, the UK, and the US have established an export licence-free environment, unlocking billions in investment and cutting red tape for Australian and AUKUS industries.

This agreement stems from the AUKUS partners’ commitment, made just over a year ago, to streamline defence trade through generational legislative reforms, the government said in a media release.  

These reforms establish reciprocal national exemptions from the respective export control frameworks of the three nations. 

“These critical reforms will revolutionise defence trade, innovation, and cooperation,” remarked Deputy Prime Minister Richard Marles. 

He added, “[They enable] collaboration at the speed and scale required to meet our challenging strategic circumstances.”

Under the new framework, the need for licensing most controlled goods, technologies, and services exported, re-exported, or transferred to or within AUKUS nations has been eliminated. 

This move is expected to drive scientific and technological collaboration, particularly under AUKUS Pillar II Advanced Capabilities.

Starting 1 September 2024, the AUKUS partners will begin operating within this new export licence-free environment, a shift that is anticipated to significantly boost defence trade and innovation. 

The reforms are set to support unprecedented levels of advanced scientific, technological, and industrial cooperation, fast-tracking the delivery of high-end capabilities to the Australian Defence Force. 

“I commend AUKUS partners for their tireless efforts to deliver this generational change so quickly,” Marles added.

This licence-free environment will dismantle trade barriers, reduce costs for local businesses, and provide significant support to industries, higher education, and research sectors across all three nations. 

“This is another example of how the Albanese Government is working for Australians, delivering in practical ways to support Australian jobs, research, and science,” said Marles.

The reforms will lead to:

• Licence-free trade for over 70 per cent of defence exports from the US to Australia, previously subject to International Traffic in Arms Regulations.
• Licence-free trade for over 80 per cent of defence trade from the US to Australia, previously governed by Export Administration Regulations.
• The elimination of around 900 export permits previously required under Australia’s export controls for trade with the US and UK, valued at $5 billion annually.
• The removal of approximately 200 export permits for defence exports from the UK to Australia, valued at over $129 million per year.

Australia has enacted these national exemptions through the Defence Trade Controls Amendment Act 2024 and related regulations, while the US and UK have implemented corresponding changes through amendments to their respective export regulations. 

The Australian Government has committed $28 million in the 2024-25 Budget to facilitate these reforms.

The post Generational export reforms set to bolster AUKUS trade and collaboration appeared first on Australian Manufacturing.

Heirloom, a US Direct Air Capture (DAC) company, announced plans to build two DAC facilities in Shreveport, Louisiana, capable of jointly removing up to 320,000 tons of carbon dioxide from the atmosphere each year.

These facilities will utilise Leilac’s innovative electric calcination and carbon capture technology under a global license agreement, Calix said in a news release.

The first facility, designed to remove approximately 17,000 tons of CO2 annually, is expected to begin operations by 2026.

The second facility, with a capacity to handle around 300,000 tons per year, will be developed in phases, starting with an initial capacity of about 100,000 tons by 2027.

Phil Hodgson, managing director and CEO of Calix, highlighted the significant potential of the DAC market in the global effort to address climate change. ‘

“Heirloom and Leilac’s partnership and complementary technologies deliver an innovative pathway to drive down DAC costs and be at the forefront of this exciting opportunity,” he noted.

Heirloom CEO Shashank Samala expressed excitement about building these new facilities in Northwest Louisiana, citing the economic activity and job creation they will bring to the region.

Samala explained, “Coming shortly after we opened America’s first commercial DAC facility, this expansion in Louisiana continues Heirloom’s strong momentum as we work toward billion-ton scale.”

According to Calix, the partnership between Heirloom and Leilac combines two complementary climate technologies to provide an efficient approach to atmospheric carbon dioxide removal.

Using low-cost limestone, modular and scalable designs, and efficient, renewably powered electric heating, this collaboration aims to deliver a fast and cost-effective path to permanent CO2 removal.

The partnership also aims to accelerate the deployment of renewably powered electric calcination technology for decarbonising hard-to-abate industries such as cement and lime, supporting a transition to sustainable local industries.

Heirloom’s phased scale-up approach is designed to enable technical, engineering, and operational learnings that support cost-effective carbon dioxide removal at scale.

Following the signing of a perpetual global license agreement and a collaboration agreement in October 2023, Leilac and Heirloom have continued to progress the engineering and design of DAC plants using Leilac’s electric calcination and carbon capture technology.

The 300,000-ton-per-year facility is part of Heirloom’s contribution to Project Cypress, a DOE-supported DAC Hub eligible for up to $600 million in government funding.

The State of Louisiana will also contribute up to $10 million in economic incentives for the projects, reflecting bipartisan support for DAC in the state.

Combined, the DAC facilities are expected to create at least 1,000 construction jobs and over 80 permanent jobs.

Furthermore, Heirloom is partnering with CapturePoint, a carbon management company, to store the CO2 captured from these facilities in Class VI underground wells, providing a safe, durable, and permanent storage solution.

The pipeline and storage wells used for Heirloom’s captured CO2 will be dedicated to permanent CO2 storage, and both facilities will be fully powered by additional renewable energy sources.

In addition to significant public funding, Heirloom will finance the remaining capital expenditure for the projects and pay Leilac for associated engineering services.

Once operational, both DAC facilities will be covered by Leilac and Heirloom’s global license agreement, under which Heirloom will pay Leilac a minimum of $3 per ton of CO2 separated by the Leilac technology.

The post Calix unveils major US direct air capture projects with Heirloom appeared first on Australian Manufacturing.

DroneShield Ltd announced a repeat order worth AUD 5.7 million from a US Government customer for its Counter-UxS (C-UxS) systems.

These systems target multi-domain aerial, ground, and maritime surface drones, addressing the growing need for advanced counterdrone technology in modern conflicts, the company said in an ASX announcement.

The delivery, involving multiple DroneShield product lines, will be completed in several stages throughout the year.

Matt McCrann, DroneShield’s US CEO, emphasised the importance of this contract, “As the drone threat continues to evolve and proliferate across domains in modern conflicts, we are honored to support the U.S. Government and our allies as they look to meet the growing need for advanced Counter-UxS solutions.

He continued, “We value our partnership and look forward to continuing to support our troops and partners wherever possible.”

Tom Branstetter, DroneShield’s director of Business Development, highlighted the company’s capabilities, stating, “Our comprehensive product portfolio paired with high-level manufacturing affords us the ability to rapidly outfit US and partner nations with lifesaving technology, while also addressing a wide range of operational requirements.”

“It’s a privilege to assist the U.S. government and our allies in strengthening security both at home and abroad,” he added.

DroneShield specialises in artificial Intelligence-based platforms designed to protect against advanced threats such as drones and autonomous systems.

The post DroneShield wins $5.7M repeat order from US gov’t appeared first on Australian Manufacturing.

ASX-listed DroneShield has secured a repeat order of $4.3 million from a US Government entity, which involves supplying a range of handheld C-UAS (Counter-Unmanned Aircraft Systems) devices.

The delivery process is expected to be finalised within the next 15 days, utilising the existing stock available, the company said in a media release.

Having established a longstanding relationship with the US Government, DroneShield has been collaborating with this customer for several years, fulfilling multiple smaller orders in the past.

DroneShield anticipates further sizable orders from this client in the near future, although the exact details regarding the timing and extent of these orders will be disclosed to the market as additional information becomes available.

Tom Branstetter, director of Business Development at DroneShield, emphasised the importance of staying ahead in the face of evolving unmanned systems.

“Widespread global conflict continues to provide clear evidence of the rapid evolution of unmanned systems. This U.S. government end-user demands cutting-edge capabilities to maintain its decisive advantage.”

Matt McCrann, CEO of DroneShield US, expressed his satisfaction with the recognition of DroneShield’s products within the US Government agencies.

“DroneShield products have undergone extensive evaluations from a number of U.S. Government agencies in the last several years, and we’re honoured by the customer relationship we have and pleased to start seeing the results of these efforts.”

McCrann further highlighted the significance of the company’s ability to swiftly deliver solutions, particularly in response to urgent operational requirements, as the threat posed by drones continues to escalate globally.

The post DroneShield clinches $4.3M repeat order from US gov’t appeared first on Australian Manufacturing.

Australian metal additive manufacturing company Titomic Limited has celebrated the successful sale of two D523 low-pressure cold spray systems, marking a significant stride in the company’s expansion into the mining services sector and the US market.

In a news release, Titomic said it secured the sale of two D523 low-pressure cold spray systems, solidifying its position as a pioneer in advanced manufacturing and coatings technology.

The first of these sales, with a value of AUD 198,829, took place in Kalgoorlie, Western Australia, signalling Titomic’s strategic entry into the thriving mining services industry in the region.

The second sale occurred in Texas, USA, marking a crucial achievement in the company’s expansion into the dynamic American market.

The sale in Western Australia holds particular significance as it highlights Titomic’s commitment to meeting the demands of the robust mining sector in the region.

The D523 system’s adaptability and mobility proved instrumental in securing this transaction, showcasing its capability to meet the stringent requirements for durability and efficiency in the mining servicing industry.

Simultaneously, in the United States, the sale in Texas, facilitated by Titomic’s reseller, Anywise America, stands out as a landmark success.

This marks the first sale by Anywise America since joining forces with Titomic, paving the way for a promising partnership.

An on-site demonstration played a pivotal role in demonstrating the D523 system’s capabilities, solidifying its position as a groundbreaking solution for the American market.

The D523 system’s innovative no-heat repair capability and rapid restoration feature for metal parts make it uniquely suitable for the mining industry.

Its capacity to repair and restore metal components without requiring high-temperature treatments not only preserves the integrity of critical mining equipment but also significantly extends its lifespan.

This feature is particularly invaluable in the mining sector, where equipment downtime can lead to substantial financial implications.

Titomic’s global presence has now reached new heights, with over 133 Titomic cold spray systems in operation, primarily across various industries in Europe.

The track record and technology of the D523 system are poised to revolutionize maintenance and repair processes in these newfound markets.

Herbert Koeck, the managing director of Titomic, commented that the successful sale of the D523 systems in Western Australia and Texas signifies a significant step in their strategic plan to expand their presence in vital industries.

He said, “These transactions not only reflect our unwavering commitment to addressing the dynamic needs of these sectors but also showcase the strength and versatility of our advanced technological solutions.”

Looking ahead, he expressed excitement about continuing to support the growth and efficiency of industries, particularly in mining, through their innovative and transformative manufacturing technologies.

The post Titomic expands footprint with breakthrough sales in US and Australia appeared first on Australian Manufacturing.

The Global manufacturing sector is moving closer to stabilisation in November, according to the latest composite index from JP Morgan and S&P Global. 

The JP Morgan Global Manufacturing PMI posted a 49.3 rating in November, up from October’s 48.8. The result marks a six-month high for the index but also the 15th month in a row of recording below the neutral 50.0 mark. 

In a media release, JP Morgan said all five of the PMI components continued to signal a deterioration in overall operating conditions. However, the decline moderated in four components (new orders, output, stocks of purchases, and employment) over the course of a month. 

Global manufacturing production saw a further downturn, primarily in the immediate goods sector, where output contracted for the sixth month in a row, albeit at a slower pace. Meanwhile, consumer and investment goods producers both saw increases. 

Ten out of 31 nations in the Manufacturing PMI survey saw expansions in production, including the US, mainland China and India. Output contracted across Europe and the United Kingdom along with Japan. 

An increase in job losses was recorded for the third month running, with cuts signalled in the US, the euro area, China, and Japan. 

This comes with a decrease in the level of incoming new businesses, which resulted in a 17-month decline, although the rate of decline eased and was one of the slowest during the sequence.  

Vendor delivery times improved again as global supply chains continued to repair following the strains caused by the global pandemic and subsequent solid economic recovery.

The global inflationary pressures also moderated in November as rates of increase in input costs and selling prices both slowed to three-month lows. 

In the case of purchasing costs, the rate of inflation remained higher in emerging markets compared to their developed market counterparts. 

“The November PMIs offer a glimmer of hope that global industry may have found a bottom at the start of 4Q23. The manufacturing output index rose one point to 49.9, more than reversing the October drop and tempering concerns that activity was sliding back into contraction,” said Bennett Parrish, global economist at JP Morgan. 

“At this level, the output PMI is consistent with very soft growth in global manufacturing. A sizable increase in the European PMIs is encouraging given that the outlook in the region has been particularly weak. Asia – a bellwether for global Industry – also saw a notable rise.”

The post Global Manufacturing activity sees slower downturns in November appeared first on Australian Manufacturing.

NIOA Group, an Australia-based global munitions company, announced its tenancy at Picatinny Arsenal in New Jersey – a move aimed at bolstering the allied supply of critical munitions.

The strategic decision reinforces NIOA’s commitment to playing a key role in armaments supply to the United States Army and its global allies, the company said in a media release.

With over 6,000 military, government, and civilian personnel, Picatinny Arsenal serves as the United States Army’s Joint Centre of Excellence for ammunition and weapons.

Key organisations housed within Picatinny include the Joint Program Executive Office Armaments and Ammunition (JPEO A&A), Project Manager Soldier Lethality, and Combat Capability Development Command Armaments Center (DEVCOM-AC).

NIOA Group CEO Robert Nioa emphasised the significance of this move, stating that the tenancy at Picatinny reflects NIOA’s strategic intent to expand its presence in the US beyond its recent 100 per cent acquisition of Tennessee-based Barrett Firearms.

The acquisition of Barrett Firearms, a key supplier to the US Army and Special Operations Command, positions NIOA as a significant player with active contracts for precision sniper rifles and semi-auto anti-material rifles.

Nioa highlighted the growing importance of trans-Pacific partnerships between Australian defence companies and the US, citing the AUKUS security agreement.

“Picatinny Arsenal is a vital US hub for defence innovation and collaboration,” Nioa said.

He continued, “This strategic expansion comes at a crucial time and demonstrates NIOA’s long-term broader objective to strengthen allied defence capabilities.”

NIOA’s expanded presence at Picatinny aims to foster closer collaboration with US government agencies, aligning with the call from Dr William LaPlante, US Under Secretary of Defence for Acquisition and Sustainment, for increased co-production, co-development, and co-sustainment of weapons with close allies.

In addition to owning Barrett Firearms, NIOA has established relationships with major US companies such as General Dynamics, Northrup Grumman, and Winchester, each of which also holds tenancies at Picatinny.

NIOA’s team at Picatinny includes seasoned professionals with extensive experience in ammunition and combat ammunition systems, further enhancing the company’s capabilities in defence innovation.

The post NIOA expands US presence, secures tenancy at Picatinny Arsenal appeared first on Australian Manufacturing.

A new report from national professional services firm RSM Australia has highlighted the need for an increase in government contracts and funding to allow Australian advanced manufacturing to compete on a global level. 

The report, titled “Innovate, Transform & Thrive: Securing Australia’s Manufacturing Industry,” noted that the National Reconstruction Fund alone may not be enough to cement Australian manufacturing’s edge in the global landscape. 

According to the report, in addition to increasing government funding and contracts for advanced manufacturing, the NRF must funnel funding to critical industries where Australia has a competitive advantage and provide substantially larger amounts to targeted companies. 

The government must also consider the implementation of Australia-first supply chain requirements for major projects and mandates for majority-owned Australian companies to support local manufacturers. 

The report also recommended the reinstatement of the instant asset tax write-off to provide greater incentive to purchase capital equipment and machinery. This would encourage manufacturers to adopt modernisation, which could support decarbonisation, productivity, and advanced manufacturing processes. 

Jessica Olivier, RSM Australia’s national leader manufacturing services, said the backdrop to parliamentary hearings into Developing Advanced Manufacturing in Australia is a broader debate about the best way to fund and support the manufacturing sector and who should be the target of the funding. 

Olivier added that Australia needs to model the US by heavily investing in local manufacturing and fostering green technologies to boost sovereign manufacturing capability. 

“More clean-energy manufacturing facilities have been announced in the last year in the US than in the previous seven years. This translates to well-paid jobs and a massive boost to climate change initiatives that can reshape a nation.” 

Olivier also noted that NRF funds pale in comparison to allocations for manufacturing in the US and EU, even considering size differences. 

“With initial NRF announcements expected soon, we would hope to see funding targeted to those with the best chance of success in critical industries where Australia has a competitive advantage, such as medtech, defence, aerospace, clean energy and food and agriculture.”

The post More funding, government contracts needed for Australian manufacturing to compete globally, says report appeared first on Australian Manufacturing.