Company News

Convergence Medical secure $5 million from global investors for world-first surgical robot

Brisbane MedTech company Convergence Medical has secured AU$5 million from global investors, closing out its successful Series A funding round. US investor Avicella Capital has backed the company’s world-first arthroscopic surgical robot – named VO1 – which will support plans to commercialise the robot, expand into the US and disrupt the $6.1 billion global arthroscopic industry. The funding milestone elevates the company to a valuation of over AU$30 million, setting the stage for significant expansion and innovation in the global healthcare sector. It also delivers a significant return on investment to angel, pre-seed and seed investors who have backed the company since its inception three years ago. Arthroscopic surgery is used to treat over 50 million injured wrists, elbows, shoulders, spines, hips, knees and ankles each year globally. The V01 robot is designed to reduce the physical and cognitive burden on surgeons while enhancing operative precision and dexterity and is set to transform arthroscopic operations. The funding follows the VO1’s acceptance into the US Food and Drug Administration’s (FDA) Breakthrough Devices Program in December 2023, expediting its path to market. Less than 3% of devices submitted to the FDA are accepted into this program. Convergence Medical founder and CEO Chris Jeffery, a medical doctor with an extensive history of orthopaedic innovation, and seasoned entrepreneur behind other notable MedTech ventures including Field Orthopaedics and Audeara, said the investment would help accelerate growth. “We’re thrilled to achieve this important milestone in our journey to commercialisation and excited to be working with Avicella Capital, who are seasoned investors with a great track record in the global MedTech industry,” said Dr Jeffery. “This funding enables us to accelerate our growth and bring our transformative technology to hospitals and surgeons around the globe. “Our mission is to create more efficient, effective solutions that support medical professionals […]

State approval for North West Shelf extension a key step to energy security

Australian Energy Producers welcomes the Western Australian Government providing environmental approval for the North West Shelf Project Extension. “The North West Shelf project is critical to providing energy security and emissions reductions to the state and region – through long-term gas supply to Western Australian households and businesses and supporting WA’s key trading partners,” Australia Energy Producers WA Director Caroline Cherry said. “The North West Shelf Project continues to be a truly nation-building project. For more than four decades, it has been a major contributor to Australia, providing more than $40 billion in royalties and excise alongside significant employment and business opportunities in the region.” “The approval recognises the increasingly urgent need for new gas supply in Western Australia to ensure households and businesses continue to have reliable and affordable energy.” “More gas will be needed to serve rising demand supporting renewables in electricity generation as coal is phased out while underpinning the economic benefits produced by the mining sector as a key power source.” Ms Cherry said the state government approval now triggers recommencement of the Federal Government’s environmental approval process. “The Federal Government must recognise the need to bring on more gas supply sooner, while providing certainty to a project that delivers wide-ranging benefits to Australia, Western Australia and regional trading partners,” Ms Cherry said. A recent independent report by EnergyQuest found that without new gas investment, Western Australia would run out of gas for electricity – which accounts for 60 per cent of the state’s power – from the early-2030s and its mining and industrial sectors would be left without gas from mid-2030s.

MGA Thermal selected by Chevron for innovative clean steam solution study

Clean energy innovator to conduct Front-End Engineering Design study for global energy leader MGA Thermal, a leading innovator in clean energy solutions, today announced its selection by Chevron to conduct an initial engineering and design study for an innovative clean steam solution. This study marks a significant milestone for MGA Thermal and underscores the growing importance of decarbonisation technologies in the energy sector. The study focuses on the application of MGA Thermal’s clean steam solution on a 5MWh trial unit designed for a Chevron site. “Collaborating with Chevron represents a big milestone for MGA Thermal and advances our mission to decarbonise industrial heat on a global scale,” said Mark Croudace, CEO of MGA Thermal. MGA Thermal’s innovative technology uses input variable renewable energy to generate process-grade steam on demand, enabling a 24/7 supply of reliable industrial heat at scale. MGA Thermal’s TES system can deliver steam at temperatures ranging from 150°C to over 550°C. This effectively firms variable renewable generation without the need for cost-prohibitive batteries, aligning perfectly with the growing demand for sustainable energy solutions in heavy industries. The study will be concluded by the end of 2024, with Anacapa serving as the appointed owner’s engineer and EPC (Engineering, Procurement, and Construction) partner. “This study with Chevron represents a significant opportunity to demonstrate the real-world impact of our technology,” said Dr. Alex Post, CTO of MGA Thermal. “We’re confident that our clean steam solution will play a crucial role in helping industry leaders meet their ambitious decarbonisation goals.” “At Chevron, we’re committed to delivering affordable, reliable, and ever-cleaner energy. Our collaboration with MGA Thermal is just one example of the forward-thinking required to deliver on our strategy to reduce the carbon intensity of our operations and advance new solutions for major industries,” commented Luc Huyse, Manager, Operations and Facilities […]

Australian businesses can learn about circularity from Europe’s new product eco-design rules

Ross Thompson, Greenbox In the face of climate change, governments and businesses are either pushing or being inevitably pulled to reset their strategies, practices and systems from linear to circular. Legislation and regulations, along with certifications, are a key lever for this mega trend. Mandatory climate-related financial disclosure for big business in Australia and other jurisdictions are just the start of changing times. Keeping household and business products and materials in use is one part of the circular picture, and countries at the forefront of circularity are creating regulatory frameworks that design waste and pollution out of the system. Europe is at the leading edge of this seismic shift. The region provides an indication of what Australian companies might expect ahead and indeed will soon be impacted by when exporting. Let’s consider some notable features and implications of Europe’s new product eco-design rules, which came into force in July 2024: Sustainable products becoming the rule, not the exception The Ecodesign for Sustainable Products Regulations (ESPR) are a framework for setting ecodesign requirements on specific product groups (almost all physical products) – implemented gradually over time based on prioritisation. Priority products range from steel and textiles to tyres, detergents and ICT products and other electronics. These rules will be developed based on scientific evidence, economic analysis and stakeholder consultation. The aim is to improve circularity, energy performance and other sustainability aspects of products placed on the EU market. This regulation brings in rules for a broader range of products and more expansive rules as appropriate. Towards a circular economy, it’s about better durability, reusability, upgradability, reparability, recycling, resource efficiency, carbon footprint and information transparency. Scanning products for sustainability, stop destroying unsold products, and ‘Green Public Procurement’ Novel measures in the ESPR are a ‘Digital Product Passport’, rules to address the destruction […]

Ed Husic launches Propel-AIR: Australia’s First Robotics Sprint

Australia’s Federal Minister for Industry and Science, Ed Husic, has launched Australia’s first-ever AI and Robotics Sprint, ‘Propel-AIR’ in Brisbane. Designed to fast-track innovation and empower Australian startups, businesses, researchers, and entrepreneurs, the Propel-AIR Initiative is part of the ARM Hub AI Adopt Centre programs and is focused on developing local talent across AI and robotics. “We need to build more skills and we need to build them here, and so having Propel-AIR and a program like that is why it’s a big deal,” said Minister Husic on Thursday December 12th to the ARM Hub audience. “The biggest thing we can do is we can make countries look at us and say what are the Australians doing? We make the world’s head turn towards Australia and you will all make it happen.” ARM Hub is Australia’s leading AI, robotics and design-for-manufacture industry hub. It is leading one of the Australian Government’s AI Adopt Centres. The goal of the program is to fast-track Australian robotics innovators developing essential solutions across multiple industries. ARM Hub CEO Dr Cori Stewart says it will also connect Australian robotics leaders internationally: “Propel AIR will support us to build a hard-wired connection to the world centre of Hardware Tech in Boston,” says Dr. Stewart. “Boston has borne many high-tech startups such as Boston Dynamics, Markforged, BAE Systems and more, and I look forward to announcing the Australian businesses that we launch and grow together.” Applications open in January and the top ten finalists will be announced in June. The winning team will travel to Boton’s MassRobotics for a month’s residency and participate in scheduled visits to key companies and institutions within the Boston tech community. Interested parties can register here for updates and more details.

Geely announces parts logistics partnership with DB Schenker

End-to-end service will offer Australian drivers peace of mind that Geely Genuine Parts will be readily available without the need to wait for lengthy importing processes. Geely plans to launch its new EX5 to the Australian market in 2025. It has appointed DB Schenker to handle end-to-end contract logistics for spare parts and EV battery storage. A seamless ownership experience is considered critical to Australian consumers when deciding to purchase a car, a value shared by leading global automotive manufacturer Geely Auto. Finding a partner that could offer an end-to-end supply chain solution was essential as the company prepares for the launch of the Geely EX5, its first model in Australia in first half 2025. To fulfil this requirement, Geely appointed global supply chain provider DB Schenker as the brand’s Australian parts third-party logistics (3PL) partner. The scope of the contract includes stock and storage management, importation and customs clearance of all parts, and detailed local logistics to service authorised dealers and assure service customers with agility Australia-wide. The parts supply chain is a key component of an extensive, superior customer service experience program Geely is developing for its debut in Australia, with the area being led by experienced executive Kieren Gradidge, Geely’s Aftersales Director. Li Lei, Head of Geely Auto Australia, says, “Customer satisfaction is a key driver for Geely at a group level. We have a legacy of high-quality service that filters through all our brands, and Geely Auto is excited to bring this superior experience to the Australian market. The partnership with DB Schenker will provide our customers with the confidence that any parts required will be readily available without the need to wait for lengthy importing processes to enjoy the cars they have chosen. Another important aspect for us was to ensure we are selecting […]

Student architecture exhibition challenges the boundaries of our skyline and imagination

Student architects from Western Sydney University have hosted their second consecutive end of year exhibition highlighting innovative and creative works by talented students within the University’s Architecture program. The exhibition, titled ‘Beyond the Horizon’, challenged the current architectural landscape and skyline of Sydney by offering new insights and re-imagining urban landscapes for the future of Western Sydney. Supported by Western Sydney University’s School of Engineering, Design and Built Environment, and organised by student led organisation, Beyond Architecture WSU, the exhibition was attended by industry experts, academia, and representatives from Blacktown and Cumberland City Councils. President of the Beyond Architecture team, Mary Anne Yosef said the exhibition featured a range of projects designed by architectural students throughout the year. “Beyond the Horizon is a wonderful opportunity to witness the creativity and passion of the next generation of architects,” said Mary Anne. “The conceptual designs and models reflect our students’ exploration of new and creative approaches to design. I am both proud of and deeply grateful to our amazing Beyond Architecture team and our tutors for coming together to bring this remarkable exhibition to life.” Maters of Architecture student and Vice President of Beyond Architecture, Amanda Eessa’s project, titled ‘Cultural Landscapes: Migration’s Influence on the Architectural Identity of Western Sydney’ investigates the dynamic relationship between migration and architecture in Western Sydney. Aiming to inform on how migration influences design practices and architecture, Amanda’s work has identified a gap in contemporary research regarding the unique architectural identity of Western Sydney, specifically, the influence of diverse migration patterns on creating cultural hubs. “By utilising a mixed-method approach, the research offers an analysis on Western Sydney’s cultural community hubs and micro-neighbourhood infrastructure, and significant cultural practices that can inform how future architects design for diverse households,” said Amanda. Bachelor of Architecture student, Raymond Haroon’s project, titled ‘Parramatta Arcade’, is a […]

Caroline Cherry is the WA Director of the Australian Energy Producers.

Accelerate new gas projects to fuel WA’s economy

Industry efforts in Western Australia to boost gas supply have eased concerns around potential shortfalls, but fast-tracking new gas projects remains critical to ensure reliable energy for the state’s households and industry. The Australian Energy Market Operator’s (AEMO) 2024 Western Australian Gas Statement of Opportunities (GSOO) today confirmed the state’s gas industry has led an improved near-term gas supply outlook compared to last year, with sufficient supply forecast through to 2027. “The GSOO confirms the industry has stepped up to provide more gas to the WA domestic market,” Australian Energy Producers WA Director Caroline Cherry said. “However, a forecast increase in WA’s gas consumption from 2027 reinforces the need for more investment in new gas supply. “The GSOO forecasts a risk of annual supply gaps that will require new sources of supply from 2030 onwards as a result of increased demand from industrial and commercial users coinciding with depletion of existing gas fields.” Ms Cherry said additional gas supply was critical to growing WA’s mining and manufacturing industries and to continue to provide reliable and affordable electricity, with gas generating 60 per cent of WA’s power. “Getting the state’s energy policy right to incentivise investment in exploration and project development will be key to securing WA’s long-term energy needs,” Ms Cherry said. “The GSOO identifies fast-tracking proposed projects and new gas fields as an action to eliminate the risk of a supply shortfall before 2030.” AEMO reinforced “These gas fields could be developed as separate or expansion projects to take advantage of the LNG export incentive under the updated Western Australian Domestic Gas Policy”. “The industry looks forward to continuing to work with the WA Government to unlock new supply and ensure affordable and reliable energy for WA homes and businesses,” Ms Cherry said.

Roadmap recognises economic opportunities from offshore decommissioning

Australian Energy Producers welcome the Australian Offshore Resources Decommissioning Roadmap released today, which recognises the importance of “Australia’s strong and successful gas sector” as it embarks on a major scope of decommissioning works over the next decade. The Roadmap outlines a number of actions aimed at positioning Australia as a leading jurisdiction for the decommissioning of offshore energy infrastructure, backed by industry’s world-class skills and expertise. Australian Energy Producers Chief Executive Samantha McCulloch said the Roadmap recognised the significant economic and employment benefits associated with the industry’s investment in offshore decommissioning. “For decades, these offshore oil and gas facilities have delivered energy security and substantial economic benefits for all Australians, and this next wave of investment in decommissioning will extend that economic contribution,” Ms McCulloch said. “The Roadmap acknowledges the need for a skilled workforce, clear and efficient regulations and improved collaboration across jurisdictions to maximise economic and environmental outcomes.” Ms McCulloch said Australia can benefit from the experience of the United Kingdom and Norway in developing international best practice environment and safety standards as well as financial assurance frameworks. “Regulations that provide clarity and certainty for industry are essential, including addressing the current ambiguity on consultation requirements that is delaying decommissioning activities as well as urgently needed new gas supply projects,” Ms McCulloch said.

Terria bites into billion-dollar geospatial tech market

Geospatial tech startup Terria has spun out of CSIRO, Australia’s national science agency, after successfully closing a seed investment round with Australian deep tech investment fund, Main Sequence. Terria organises and visualises the world’s spatial data, across thousands of mapping and information layers, to make it accessible and useful for everyone. It simplifies the complex process of creating digital twins, or online virtual replicas of buildings, cities, regions and countries to enable modelling and investigation of ‘what-if’ scenarios. The seed funding will help support Terria’s global ambitions for its products, which can assist with planning and managing the cities of the future, the energy transition and environmental monitoring. Professor Elanor Huntington, CSIRO’s Digital, National Facilities and Collections Executive Director, said the national science agency was proud to have incubated Australia’s newest tech start-up. “It is very exciting to watch research turn into technology with real-world impact, and in this case, to form the foundation of a new stand-alone company,” Professor Huntington said. “CSIRO exists to foster Australian innovation and to help take that innovation out into the world. “We are extremely proud of the Terria team – geospatial visualisation makes the enormous amount of global data understandable and accessible for everyone.” Two former CSIRO employees will lead Terria: Ana Belgun, Terria Chief Executive Officer and Product Lead, and Amber Standley, Chief Experience Officer. “Terria started in 2014, when the first open-data, open-source Australian Government platforms were created to help any organisation or individual to access and visualise spatial data,” Ms Belgun said. “Since then, millions of users have accessed over 15,000 datasets on Terria mapping platforms. “In this next phase we will scale the positive impact we have created so far for Australian companies and government agencies and take these advanced tools global to enable the creation and management of […]

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