Government · 9 deals
Every published round Modern Manufacturing Initiative took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Companies Modern Manufacturing Initiative has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Carbon Revolution | 30 Nov 2022, Grant | 1 | 1 | |
| EMVision | 25 Oct 2022, Grant | 1 | 0 | |
| EMVision Medical Devices | Oct 2022, Grant | 2 | 2 | |
| Vaxxas | Biotech/MedTech company | 27 Sep 2022, Grant | 1 | 1 |
| Southern Launch | South Australian rocket launchpad and spaceport operator | 11 Aug 2022, Grant | 1 | 1 |
| Australia Vanadium | Aug 2022, Grant | 1 | 1 | |
| Calix | New South Wales based environmental technology company | Jun 2022, Grant | 1 | 1 |
| Thomas Food International | 1 Mar 2022, Grant | 1 | 0 |
Fund closes reported for Modern Manufacturing Initiative, as distinct from the investments it has made.
Companies Modern Manufacturing Initiative has backed that another company then bought. An exit for the holding, not a deal Modern Manufacturing Initiative did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| Carbon Revolution | Twin Ridge Capital Acquisition Corporation | Merger | 2023 | - |
| Name | Role | Sources |
|---|---|---|
| Angus Taylor | Industry Minister | @AuManufacturing |
Stories naming Modern Manufacturing Initiative. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Vanadium company Australian Vanadium says the first study phase for its subsidiary's battery storage project is complete, and flags future funding options; earlier federal program money backs its Gabanintha resource.
EMVision has finished its first scanner production line and collected the last milestone instalment of a federal manufacturing grant, taking the brain-imaging company's award to its full value.
SiBox thermal storage developer 1414 Degrees has completed its technology demonstration, proving it can deliver process heat at industrial scale, and will move to Adelaide's Tonsley district to test mass-production versions.
Calix will build its Leilac-2 carbon-capture cement plant at Heidelberg Materials' Ennigerioh site in Germany after Hannover ended clinker production; the piece also notes Australian projects with Adbri, Boral and Pilbara Minerals.
Podcast interview with Adarsh Australia director Faz Pollard discussing post-Covid policy, government procurement, and the group's grant-funded plant recycling waste paper into new products in Western Australia.
VSUN Energy has built its first residential vanadium flow battery in Western Australia, backed by $3.69m from the Modern Manufacturing Initiative, with another unit heading to Horizon Power.
Podcast profile in which EMVision chief Scott Kirkland discusses the company's portable bedside brain scanner for stroke, its origins in Queensland research, grant backing, and plans for 2024 trials and a second device.
Thermal storage firm 1414 Degrees has won an extra $750,000 from Woodside's technology arm for its molten silicon SiBox pilot, taking that backer's support to $2.75 million, with the demonstration unit now running unattended.
Also @AuManufacturing
Council has received a development application for a planned Sunshine Coast food and beverage manufacturing precinct, reportedly at Corbould Park; the developer previously received two federal manufacturing grants worth a combined $45 million.
Calix and Pilbara Minerals report progress on their joint lithium demonstration plant in Western Australia, with a final investment decision expected around end of July and federal program support behind the project.
SPEE3D hot fire tested a prototype rocket engine in Darwin, first of an 18-month test series. Its SPACE3D project earlier won federal and Northern Territory government grant funding.
Climate Energy Finance analysts review Australian federal and state programs backing critical minerals projects, covering government grants, low-cost loans, new budget funds and the private equity raises and debt facilities they catalysed.
Manufacturing roundup: Vaxxas wins a federal grant for vaccine patch production, Air Tip secures NT co-investment for its tipping trailer, COFA gains research funding, and Fortescue plans US hydrogen research spending.
Also @AuManufacturing
Mint Innovation opens a large-scale e-waste biorefinery in Sydney, while its Australian subsidiary Mint Biomining previously received a $4.2 million federal government grant supporting the facility.
Calix received four government funding injections in one week: grants for low-emissions lime, lithium refining and carbon capture projects with Adbri, Pilbara Minerals and Boral, plus an R&D tax incentive refund, totalling $66.19 million.
Roundup of manufacturing news: federal grants for four NSW manufacturers, a Victorian plastics recycling investment, Southern Launch's new Adelaide headquarters, AusBiotech's call for speakers, and Queensland grant applications opening.
Also @AuManufacturing
Seven South Australian manufacturers, including Bickford's, Orora and Inovor Technologies, have received federal grants totalling $48 million under Round 2 of the Modern Manufacturing Initiative's Integration and Translation streams.
A commentator argues a $12 million federal manufacturing grant to wheel maker Carbon Revolution was unnecessary, since the Geelong company would have built its Mega production line regardless; its shares jumped on the news.
Also @AuManufacturing
ABS data shows Australians consuming more plant-based meat and dairy substitutes, alongside recent capital raises by alternative protein startups and large government grants for a South Australian legume protein project.
Also SmartCompany·@AuManufacturing·@AuManufacturing·Startup Daily·@AuManufacturing·@AuManufacturing·@AuManufacturing
Federal and state ministers announce government backing for a Saab Australia defence combat-systems hub in Adelaide, presented as an election sweetener ahead of the March state vote.
Canberra is putting $20 million into an Adelaide space manufacturing project, matching the state government's earlier $20 million, with four local spacetech firms among the collaborators.