Private equity firm Viburnum Funds has invested in Magellan Power, a Perth-born power systems manufacturer for the resources, defence and data centres industries.
Perth company Magellan Power is looking for external investors to help fund an expansion of its business, including the construction of a new headquarters and manufacturing facility.
WA Labor has revealed the details of a promised $50 million to fund a Western Australian battery manufacturing program, if re-elected at the March 8 state election.
The state government will invest more than $148 million in 40 projects state-wide, with DUG Technology, Austin Engineering, Kimberley Cotton Company and Stanley International College among the winners.
Chemical producer Coogee and corporate advisory firm Lisle Group have joined more than a dozen mining and engineering firms on a state government taskforce targeting future battery industries.
Potential partners are lining up to get involved with the Australian Biome Project, as the team behind the $550 million tourism development seeks $6.5 million to conduct a full feasibility study and advance the proposal to its next stage of development.
EcoGraf, formerly Kibaran Resources, has signed a letter of intent with GR Engineering Services for its proposed battery graphite facility in Kwinana, which is budgeted to cost just more than $100 million.
Magellan Power is considering operations for a capital raising early next year, including an IPO, as it sharpens its strategy to expand production of standalone power systems and microgrids.
Magnis Energy Technologies has unveiled the feasibility study for Australia's first battery manufacturing plant near Townsville, which could put a dent in Western Australia's ambition to establish the country's primary battery minerals processing and manufacturing hub.
Kibaran Resources has welcomed state government support in the development of its planned graphite plant, one of several potential projects in Kwinana's emerging 'battery valley'.
Bibra Lake-based Magellan Power has been hit by the insolvency of EC&M after supplying nearly $500,000 of equipment to a project, leading managing director Masoud Abshar to add his voice to calls for stronger laws around payment of subcontractors.
A commitment to make a real difference to community mental health has propelled Masters & Co Psychology and Wellness to the top of 2019's Business News Rising Stars.
SPECIAL REPORT: Magellan Power has grown from a sole trader business to a widely recognised manufacturer with more than 50 staff since it started out 28 years ago.
About $150 million of non-lithium projects for the battery industry are in the pipeline for Kwinana, with Magellan Power and Pilbara Metals Group the latest proponents.
WA is one of the world's largest producers of lithium, but a plan to diversify from mining into advanced manufacturing opportunities will be tricky to shore up.
Two local enterprises have joined forces to leverage off each other's niche offerings amid a declining resources sector and limited growth opportunities for indigenous businesses.
