Kerry Stokes-backed Capilano Honey launches review; taps Rothschild
Kerry Stokes is a key investor in Capilano Honey. Alex Ellinghausen
CVC's interest in Comvita comes during a busy time for investors in the premium honey sector.
The takeover of Capilano Honey by Albert Tse's Wattle Hill and Roc Partners Investment Fund has left a bad taste in the mouth of the corporate regulator. See all Capilano Honey Limited news
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The Advertiser
6 hours ago
- The Advertiser
Aussie rocket carrying Vegemite lifts off, then crashes
Australia, we have lift-off. An Australian-made rocket has been launched from home soil for the first time, only to crash moments later. The 14-second maiden flight in Bowen, north Queensland, was hailed a "major step" toward Australia joining a potentially lucrative global space industry. Gilmour Space Technologies on Wednesday made history with the first orbital launch attempt by a rocket designed and built in Australia. To mark the milestone, a jar of Vegemite was the only occupant of the 23-metre, 35-tonne Eris rocket. Spectators at the coastal town of Bowen near Townsville gathered while thousands around the world watched via YouTube channel Aussienaut when it launched about 8.30am. The rocket took off with plumes of smoke erupting from underneath before hovering in the air briefly and then crashing into the ground nearby. There were no injuries or environmental impacts, the Gold Coast-based company said. "Off the pad, I am happy," CEO Adam Gilmour posted on LinkedIn. "Of course, I would have liked more flight time, but happy with this." He later posted on Facebook: "For a maiden test flight, especially after an extended 18-month wait on the pad for final approvals, this is a strong result and a major step forward for Australia's sovereign space capability." The flight was brief but was still set to provide vital data. "Space is hard. SpaceX, Rocket Lab and others needed multiple test flights to reach orbit," Mr Gilmour said in a statement. "We've learned a tremendous amount that will go directly into improving our next vehicle, which is already in production. "This was the first real test of our rocket systems, our propulsion technology, and our spaceport - and it proved that much of what we've built works." Gilmour Space Technologies is looking to design and manufacture rockets to carry satellites into space, using new hybrid propulsion technology. If successful, the company's rockets are set to carry small satellites to orbit for business and government in a low cost service - one that is in growing demand globally. "Satellites and communication are worth billions and billions in the global space economy," Swinburne University of Technology's Rebecca Allen told AAP. "And it would mean huge benefits for the Australian economy and jobs if the rockets are to be manufactured here. "In terms of a developed nation we are considered pretty far behind where we should be - this is definitely bringing us up closer to where we should be." The launch had been delayed for months because of weather conditions and technical issues. It was set to take off on Tuesday afternoon and was 10 minutes out from launching, only to be halted because of high winds. Australia's attempt to enter the space race didn't last long but Dr Allen agreed it was a success. "The launch is a major milestone for the space industry here. It's huge," she said. "Once this rocket is more reliable and fully able to undertake launches to lower orbit, it means we are not relying on another country to access space." Gilmour Space Technologies was recently awarded a $5 million grant from the federal government to assist with the launch after receiving $52 million in Commonwealth funding to lead a space manufacturing network in Australia. "Only six nations launch to orbit regularly and just a handful are working to join them - today brings Australia closer to that club," Mr Gilmour said. Australia, we have lift-off. An Australian-made rocket has been launched from home soil for the first time, only to crash moments later. The 14-second maiden flight in Bowen, north Queensland, was hailed a "major step" toward Australia joining a potentially lucrative global space industry. Gilmour Space Technologies on Wednesday made history with the first orbital launch attempt by a rocket designed and built in Australia. To mark the milestone, a jar of Vegemite was the only occupant of the 23-metre, 35-tonne Eris rocket. Spectators at the coastal town of Bowen near Townsville gathered while thousands around the world watched via YouTube channel Aussienaut when it launched about 8.30am. The rocket took off with plumes of smoke erupting from underneath before hovering in the air briefly and then crashing into the ground nearby. There were no injuries or environmental impacts, the Gold Coast-based company said. "Off the pad, I am happy," CEO Adam Gilmour posted on LinkedIn. "Of course, I would have liked more flight time, but happy with this." He later posted on Facebook: "For a maiden test flight, especially after an extended 18-month wait on the pad for final approvals, this is a strong result and a major step forward for Australia's sovereign space capability." The flight was brief but was still set to provide vital data. "Space is hard. SpaceX, Rocket Lab and others needed multiple test flights to reach orbit," Mr Gilmour said in a statement. "We've learned a tremendous amount that will go directly into improving our next vehicle, which is already in production. "This was the first real test of our rocket systems, our propulsion technology, and our spaceport - and it proved that much of what we've built works." Gilmour Space Technologies is looking to design and manufacture rockets to carry satellites into space, using new hybrid propulsion technology. If successful, the company's rockets are set to carry small satellites to orbit for business and government in a low cost service - one that is in growing demand globally. "Satellites and communication are worth billions and billions in the global space economy," Swinburne University of Technology's Rebecca Allen told AAP. "And it would mean huge benefits for the Australian economy and jobs if the rockets are to be manufactured here. "In terms of a developed nation we are considered pretty far behind where we should be - this is definitely bringing us up closer to where we should be." The launch had been delayed for months because of weather conditions and technical issues. It was set to take off on Tuesday afternoon and was 10 minutes out from launching, only to be halted because of high winds. Australia's attempt to enter the space race didn't last long but Dr Allen agreed it was a success. "The launch is a major milestone for the space industry here. It's huge," she said. "Once this rocket is more reliable and fully able to undertake launches to lower orbit, it means we are not relying on another country to access space." Gilmour Space Technologies was recently awarded a $5 million grant from the federal government to assist with the launch after receiving $52 million in Commonwealth funding to lead a space manufacturing network in Australia. "Only six nations launch to orbit regularly and just a handful are working to join them - today brings Australia closer to that club," Mr Gilmour said. Australia, we have lift-off. An Australian-made rocket has been launched from home soil for the first time, only to crash moments later. The 14-second maiden flight in Bowen, north Queensland, was hailed a "major step" toward Australia joining a potentially lucrative global space industry. Gilmour Space Technologies on Wednesday made history with the first orbital launch attempt by a rocket designed and built in Australia. To mark the milestone, a jar of Vegemite was the only occupant of the 23-metre, 35-tonne Eris rocket. Spectators at the coastal town of Bowen near Townsville gathered while thousands around the world watched via YouTube channel Aussienaut when it launched about 8.30am. The rocket took off with plumes of smoke erupting from underneath before hovering in the air briefly and then crashing into the ground nearby. There were no injuries or environmental impacts, the Gold Coast-based company said. "Off the pad, I am happy," CEO Adam Gilmour posted on LinkedIn. "Of course, I would have liked more flight time, but happy with this." He later posted on Facebook: "For a maiden test flight, especially after an extended 18-month wait on the pad for final approvals, this is a strong result and a major step forward for Australia's sovereign space capability." The flight was brief but was still set to provide vital data. "Space is hard. SpaceX, Rocket Lab and others needed multiple test flights to reach orbit," Mr Gilmour said in a statement. "We've learned a tremendous amount that will go directly into improving our next vehicle, which is already in production. "This was the first real test of our rocket systems, our propulsion technology, and our spaceport - and it proved that much of what we've built works." Gilmour Space Technologies is looking to design and manufacture rockets to carry satellites into space, using new hybrid propulsion technology. If successful, the company's rockets are set to carry small satellites to orbit for business and government in a low cost service - one that is in growing demand globally. "Satellites and communication are worth billions and billions in the global space economy," Swinburne University of Technology's Rebecca Allen told AAP. "And it would mean huge benefits for the Australian economy and jobs if the rockets are to be manufactured here. "In terms of a developed nation we are considered pretty far behind where we should be - this is definitely bringing us up closer to where we should be." The launch had been delayed for months because of weather conditions and technical issues. It was set to take off on Tuesday afternoon and was 10 minutes out from launching, only to be halted because of high winds. Australia's attempt to enter the space race didn't last long but Dr Allen agreed it was a success. "The launch is a major milestone for the space industry here. It's huge," she said. "Once this rocket is more reliable and fully able to undertake launches to lower orbit, it means we are not relying on another country to access space." Gilmour Space Technologies was recently awarded a $5 million grant from the federal government to assist with the launch after receiving $52 million in Commonwealth funding to lead a space manufacturing network in Australia. "Only six nations launch to orbit regularly and just a handful are working to join them - today brings Australia closer to that club," Mr Gilmour said. Australia, we have lift-off. An Australian-made rocket has been launched from home soil for the first time, only to crash moments later. The 14-second maiden flight in Bowen, north Queensland, was hailed a "major step" toward Australia joining a potentially lucrative global space industry. Gilmour Space Technologies on Wednesday made history with the first orbital launch attempt by a rocket designed and built in Australia. To mark the milestone, a jar of Vegemite was the only occupant of the 23-metre, 35-tonne Eris rocket. Spectators at the coastal town of Bowen near Townsville gathered while thousands around the world watched via YouTube channel Aussienaut when it launched about 8.30am. The rocket took off with plumes of smoke erupting from underneath before hovering in the air briefly and then crashing into the ground nearby. There were no injuries or environmental impacts, the Gold Coast-based company said. "Off the pad, I am happy," CEO Adam Gilmour posted on LinkedIn. "Of course, I would have liked more flight time, but happy with this." He later posted on Facebook: "For a maiden test flight, especially after an extended 18-month wait on the pad for final approvals, this is a strong result and a major step forward for Australia's sovereign space capability." The flight was brief but was still set to provide vital data. "Space is hard. SpaceX, Rocket Lab and others needed multiple test flights to reach orbit," Mr Gilmour said in a statement. "We've learned a tremendous amount that will go directly into improving our next vehicle, which is already in production. "This was the first real test of our rocket systems, our propulsion technology, and our spaceport - and it proved that much of what we've built works." Gilmour Space Technologies is looking to design and manufacture rockets to carry satellites into space, using new hybrid propulsion technology. If successful, the company's rockets are set to carry small satellites to orbit for business and government in a low cost service - one that is in growing demand globally. "Satellites and communication are worth billions and billions in the global space economy," Swinburne University of Technology's Rebecca Allen told AAP. "And it would mean huge benefits for the Australian economy and jobs if the rockets are to be manufactured here. "In terms of a developed nation we are considered pretty far behind where we should be - this is definitely bringing us up closer to where we should be." The launch had been delayed for months because of weather conditions and technical issues. It was set to take off on Tuesday afternoon and was 10 minutes out from launching, only to be halted because of high winds. Australia's attempt to enter the space race didn't last long but Dr Allen agreed it was a success. "The launch is a major milestone for the space industry here. It's huge," she said. "Once this rocket is more reliable and fully able to undertake launches to lower orbit, it means we are not relying on another country to access space." Gilmour Space Technologies was recently awarded a $5 million grant from the federal government to assist with the launch after receiving $52 million in Commonwealth funding to lead a space manufacturing network in Australia. "Only six nations launch to orbit regularly and just a handful are working to join them - today brings Australia closer to that club," Mr Gilmour said.
Mercury
8 hours ago
- Mercury
X2M Connect is wiring Asia's smart cities and it's only getting started
AI boom puts X2M Connect at heart of Asia's smart cities From solar farms to safety alarms, this Aussie tech is everywhere The company is scaling fast across the region Smart cities are no longer futuristic puzzles, they're being built in real time across Asia. From Seoul's live 3D model of the city to India's purpose-built GIFT City, the region is racing to stitch data into the fabric of daily life. And with investment surging and AI stepping in as the city's co-pilot, urban living is getting a full-blown tech makeover. Into this rapidly evolving ecosystem steps X2M Connect (ASX:X2M). If you haven't heard of it, you're not alone. But this Aussie outfit has quietly become the digital spine behind some of Asia's smartest cities. X2M owns a patented software platform that connects almost any device – old or new – to the internet, collects data and sends instructions back, often without needing a human to step in. 'Our business is data aggregation, data management and data distribution,' CEO Mohan Jesudason explained to Stockhead. 'We can collect data from any device – analogue, digital, smart, dumb. We see ourselves as a software platform that is a key enabler of artificial intelligence." He adds that smart devices can be connected quickly, while older ones can be retrofitted with a chip to send and receive data, making nearly any machine controllable through X2M's platform. And that's exactly what it's doing today across half a million devices and counting in South Korea, Japan, Taiwan and the UAE. From utilities to AI X2M's platform started in water and gas, replacing manual meter reading with real-time digital data. In cities like Gochang, South Korea, it helped detect leaks, improve billing and even uncovered more than 200 welfare cases where residents had stopped using water. In Japan, it's used to predict when bottled gas will run out, cutting truck trips and slashing supplier costs by nearly 20%. But while the early focus was utilities, the ambition was always bigger. Today, that same platform powers solar forecasting, smart city systems and emergency response. In June, for example, X2M signed a $3 million deal to roll out 100,000 'Help Me' safety devices across Seoul, linking directly to police and CCTV in real time. 'It gives the police your exact location, and directs all the public CCTV cameras to you, so that they can track you to help,' said Jesudason. The project could scale to 1 million units, he said, showing X2M's platform was now critical infrastructure. Jesudason breaks the AI value chain into three layers: engines, data aggregation and management. 'In that data collection space, there are lots of hidden gems. That's an undiscovered, in my view, valuable layer.' And that is exactly where X2M is staking its ground. Solar, smarter One of X2M's biggest growth areas is renewable energy. Through its platform, built in partnership with UAE-based Sirius Digitech, X2M provides data that helps solar operators forecast demand, detect faults and boost efficiency. In Taiwan, delivers forecasts in 15-minute intervals for up to 30 days with better than 90% accuracy (according to the company's data). And when you're managing a solar farm with 100,000 panels, that level of insight is crucial. 'You might have a few thousand panels that are not working or that are about to stop working. And our AI engines can tell you that these panels are not working,' said Jesudason. The platform helps lift earnings by up to 10%, cut costs and improve decision-making. 'We are the provider of data for artificial intelligence applications in the renewable energy space,' Jesudason said. Fast to deploy, easy to scale According to Jesudason, X2M can also deploy its solution in a new market in a matter of days, thanks to its microengine and network-agnostic design. 'For instance, we've integrated into a large Indian company in under seven days, and we don't need any capex to scale up," he said. India's massive 250-million-meter digitisation program is indeed a clear target for the company. 'We will move into the Indian market in the foreseeable future.' So is the UAE, where X2M's partner Dicode has already secured two commercial contracts. The company also expects Australia and the US to open up within 12-18 months. And once X2M's platform is in, it tends to stick. Switching away is expensive and in many regions, the platform is already listed on official government websites. What the market doesn't see, yet… X2M is now entering what it calls 'Horizon Three", a transformation phase focused on scaling and hitting profitability. Horizon One was about building and validating the platform. Horizon Two was expansion, getting enterprise and government customers onto the system and locking them in. 'Horizon Three is, how do you scale this business up? How do you take it to profitability? How do you end up with a share price that's many times what it is today?' Jesudason said. He says X2M will become profitable when revenue hits $15–16 million, and from there, it's highly scalable. 'Once you get past that 15, 16 million dollar hump, then you tend to grow your earnings exponentially. And it's a business that spits out a lot of cash.' 'But I think right now, investors haven't got their heads around the value that's going to accrue to companies that can capture and manage and distribute data quickly, efficiently and cheaply." The proverbial penny, he believes, will eventually drop that there is a lot of value to be had in this space. At Stockhead we tell it like it is. While X2M Connect is a Stockhead advertiser, it did not sponsor this article. This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision. Originally published as X2M Connect is wiring Asia's smart cities and it's only getting started
AU Financial Review
8 hours ago
- AU Financial Review
Rest Super pumps $230m into ex-Macquarie banker's climate capital firm
Industry superannuation giant Rest will commit nearly $230 million to Wollemi Capital, the Sydney-based investment firm co-founded by former Macquarie banker Tim Bishop that backs climate-focused companies. It is the first major pension fund to invest in the firm, which has funded at least four early-stage companies with money supplied by backers such as Commonwealth Bank, former Macquarie chief executive Nicholas Moore, Square Peg co-founder Paul Bassat and the University of Sydney.
