Tuesday, July 5, 2022

Electric vehicle firm NWTN to obtain another $200 million PIPE investment

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On April 15, 2022, East Stone Acquisition Corporation, a British Virgin Island business company (East Stone), entered into a Business Combination Agreement providing for the business combination of East Stone and ICONIQ Holding Limited under a new holding company named NWTN Inc., a Cayman Islands company ( Pubco or NWTN). The transaction represents a pre-combination valuation of $2.5bn ($2,500,000,000) for NWTN upon closing.

Australia’s Applied EV and Oxbotica partner to create the first cabinless AV

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Australian Autonomous and Software-Defined Vehicle company Applied EV has teamed up with Oxbotica, a global leader in autonomous vehicle software, to develop the first fully autonomous cabinless commercial vehicle tested on publicly accessible European streets. The Applied EV vehicle, called Blanc Robot, was built in Australia. It is a modular transport platform that can be configured for specific apps, like delivery or industrial logistics, and carries an exclusive centralised software and control system named BackBone that changes any car into software-defined vehicles. The landmark achievement follows two years of trials developing the system architecture in operations across the UK, Europe and North America.

ABS signs joint development project with SpaceX on recovery droneships

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ABS has signed a joint development project (JDP) with SpaceX to review the remotely controlled functions of autonomous rocket recovery droneships used for booster rocket recovery at sea. The rocket recovery droneships are modified to include an expanded deck to increase the size of the landing platform, four thruster engines for propulsion and to hold on station, and blast shielding to protect electrical and engine equipment on deck.

Silicon Quantum Computing launches $130 million Series A capital raise

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Silicon Quantum Computing (SQC) announced the launch of A$130m Series A capital raising to fund the firm’s technical development, operations and strategic activities from 2023 to 2028. SOC also appointed of Blackpeak Capital to advise it on the Series A capital raise.

Global experts to shine light on new technologies and Sydney’s future

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Global thinkers and local innovators will come together this month to discuss what the future might look like for cities, tech and innovation. As part of the City of Sydney’s annual visiting entrepreneur program, 11 future tech thinkers will take part in 17 events to discuss a future to be determined – from autonomous vehicles, decarbonisation and creative experiences, to future possibilities of the metaverse, cancer research and global health game changers.

Australian listed company Elsight frontrunner in drone delivery upswing

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Look up in the sky! Is it a bird, a plane, pizza or pho? It could be all of the above and more as drone delivery of KFC, Roll’d and Coles takes flight in Australia, and Domino’s looks to restart its air-drop service in New Zealand. As Australia follows the evolving global trend, there’s likely to be a smorgasbord of other options on the drone delivery menu, with an Aussie-listed company already a forerunner in the more advanced US drone delivery sector.

Recover™ gets $100m minority equity investment from Goldman Sachs

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Recover™, a materials science firm and producer of sustainable, premium recycled cotton fiber and cotton fiber blends, announced that it has closed a $100m minority equity capital investment by the Sustainable Investing business within Goldman Sachs Asset Management. Goldman Sachs is investing alongside majority shareholder STORY3 Capital Partners.

AWS and HKSTP cohort to advance tech and innovation in Hong Kong

Amazon Web Services (AWS) and Hong Kong Science and Technology Parks Corporation (HKSTP) announced a collaboration, aiming to foster a robust Innovation and Tech (I&T) ecosystem in Hong Kong. AWS and HKSTP will launch programs under four key pillars to drive innovation of IT firms, startups, and researchers throughout the growth cycle – Research & Development, Technology Simulation, Co-incubation, and Talent and Culture Cultivation.

New SmartSat CRC partnership to advance Australian space sovereignty

The Adelaide-based SmartSat Co-operative Research Centre has brought in Canberra-based EOS Space Systems to advance its Project CHORUS tactical satellite terminal. EOS Space Systems will have priority to lead strategic research projects alongside leading universities to assist in the development of breakthrough technologies in military satellite communications.

Australian technology transforming the viticulture industry through 5G

Precision farming is about to get a whole lot more precise with a wave of 5G tech showing economic and productivity benefits to the viticulture industry. Growers are interested in the advantages that 5G has to offer the industry by saving money, time and maximising yield.