Perth AI developer Capability X, a technology outfit built on the smell of an oily rag, is preparing for its ASX debut tomorrow under the ticker CX8 with $12 million in its back pocket and an artificial intelligence (AI) platform designed to make industrial workplaces safer, smarter and ultimately more automated.
And if founder and chief executive Chris Eastwell gets his way - using workplace safety as a springboard for boosting industrial productivity and potentially one day even automating operations - the company could become to industrial data what Tesla has become to automotive intelligence.
At the heart of Capability X's technology is CX Edge, a ruggedised computing platform that combines light detection and ranging (LiDAR) sensors, stereoscopic cameras, communications systems and proprietary AI software, all in a briefcase-sized unit.
LiDAR uses laser pulses to measure distances, while stereoscopic cameras provide depth perception. Together, they build a three-dimensional "digital twin" of the surrounding workplace, giving the AI a ringside seat as people, vehicles and machinery go about their business.
Capability X says its AI technology can recognise objects, movement and potential dangers, using information collected from industrial sites to continually improve its software.
Much like Tesla learns from real-world driving conditions, the company aims to use its growing network of industrial devices to provide valuable operational intelligence by learning from the movement of workers and machinery rather than roads and traffic.
Picture a bustling port terminal, with towering cranes swinging massive containers through the air, trucks weaving between stacks of cargo and workers navigating the organised chaos.
Capability X's CX Protect safety system uses the CX Edge platform and AI software to monitor those movements, identify dangerous proximity events and alert operators to emerging risks before an incident occurs. That intelligence could also reveal bottlenecks and unnecessary movements, potentially lifting customers’ productivity and bottom lines.
Through "edge computing", the company’s CX Edge devices analyse information on site rather than sending it to distant data centres, enabling faster responses with less reliance on external networks. Eastwell compares the integrated platform to a smartphone and its coordination of remote assets to Uber.
Capability X managing director and chief executive officer Chris Eastwell said: “Our vision at Capability X is to keep people out of harm’s way while helping business to operate more safely, efficiently and productively- on a global scale.”
Established in November 2022, Eastwell largely bootstrapped Capability X for two years, even as the fledgling business began securing its first commercial contracts.
Eastwell has brought two decades of industry experience to the venture, having previously run Greatship Subsea Solutions in Australia and overseen marine asset integrity for Fugro across Australia and New Zealand.
The company’s early consultancy and technology-design work involved WA Police in 2023 and subsea specialist Shelf Subsea, later acquired by DeepOcean.
A commercial breakthrough came in 2023 when ASX-listed Bhagwan Marine engaged Capability X to provide technology for remotely operating offshore equipment.
The relationship has since blossomed into a multi-year arrangement spanning CX Remote, CX Connect and CX Protect, delivering an integrated suite of communications and safety systems, according to the company’s prospectus. The agreement runs through December 2028.
Despite the early success, management says Capability X has undertaken virtually no formal marketing, focusing instead on engineering and industrial relationships.
And there's plenty of engineering muscle behind the ambition.
Six software engineers report to chief technology officer Adrian Kirk-Burnnand, who has more than 23 years’ experience in sectors including mining and fintech.
In-house teams cover computer vision, AI, communications, robotics, mechatronics and hardware manufacturing and assembly, backed by remote operations, network management and security monitoring centres.
Leading the commercial charge is chief commercial officer Lex Simons, a geophysicist with 14 years at Woodside Energy under his belt, while former federal minister Ian Campbell chairs the company.
Capability X's home base, located at the Perth International Telecommunications Centre. Credit: File
The operation runs from Telstra’s International Telecommunications Centre at Cullacabardee, north of Perth, cheek by jowl with world-class command and communications infrastructure.
For its business model, Capability X has taken a leaf out of the software-as-a-service (SaaS) playbook, leasing its hardware and software to customers under multi-year subscription-style arrangements rather than selling equipment outright. The approach turns each installation into a steady stream of recurring revenue, with the potential to build a growing income stream as more customers come on board.
Beyond its flagship safety technology, the company offers CX Remote, a remote-control platform that allows command centres to monitor and operate underwater vehicles, drones and robots from afar, keeping personnel well clear of potentially dangerous environments.
Meanwhile, its CX Connect solution provides secure communications and situational awareness between remote equipment, operators and command centres. Rounding out the suite is CX1, which combines the company's technologies with engineering, system design and ongoing operational support to deliver customised solutions for complex industrial environments.
Capability X has also secured a two-year agreement with Perth-based offshore operator GO Offshore to supply CX Protect monitoring systems under a hardware-and-software lease arrangement. The agreement, signed in November 2025, includes three one-year renewal options.
However, the company's contract with logistics heavyweight Qube Ports provides perhaps its strongest commercial endorsement yet.
Capability X's CX Protect Operating System visualisation- producing a live digital twin (marine support vessel rendered), to identify potential danger events and non-compliances and alert deck crew and supervisors. Credit: File
In December 2025, Qube signed a three-year deal to deploy Capability X's CX Protect technology across its port operations, targeting risks associated with cargo-handling movements, while boosting operational efficiency.
Mining offers another market where machinery and workers share challenging environments, while defence offers further opportunities in robotics, unmanned systems and remote command.
The company has memoranda of understanding with an Australian and an international defence contractor and showcased CX Edge alongside Defence West at the 2026 Land Forces exposition.
To support its growth, the company has already secured a $40,000 handout from the WA State government for the 2024 rollout of CX Edge. The prospectus also highlights an application for a hefty $4.2 million federal Industry Growth Program grant that, if approved, would further add to the company's burgeoning war chest.
Capability's credentials were further recognised at the Robotics & AI Award at Perth's international Robopalooza festival in October 2025. Adding to the accolades, CX Protect and CX Remote were finalists in separate 2026 innovation awards; membership in Perth-based AROSE offers further robotics collaboration.
With the technology gaining commercial traction on home soil, Capability X is now casting its net beyond Australia's shores. The company's prospectus identifies contracts to supply its technology to Brunei's oil and gas sector and is pursuing further deployments in other neighbouring countries. China is also on the radar, with opportunities identified in oil and gas and ports.
A memorandum of understanding with a Timor-Leste partner could open another door, with potential applications spanning government infrastructure, remote operations and the oil and gas sector.
American market research and management consultants Frost & Sullivan estimate a theoretical global total addressable market exceeding $280 billion annually across defence, oil and gas, mining and ports. However, that figure represents the broader market opportunity rather than revenue currently being generated or business immediately available to the company.
Perth corporate advisory outfit Westar Capital has played a key role in steering Capability X towards the ASX boards, backing its funding journey through two seed capital raisings worth $2 million each at 10 cents and 16 cents a share, before supporting its $12 million initial public offering.
The company has now wrapped up its float at 20 cents a share and will debut on the ASX on November 12 under the ticker CX8, subject to the exchange's admission and quotation requirements. Armed with a fresh war chest, Capability X plans to ramp up manufacturing, accelerate product development and push further into domestic and international markets.
For Capability X, however, the bigger prize lies beyond preventing workplace accidents. Its technology could ultimately help customers squeeze more productivity from their industrial operations, reduce costs and shift increasingly complex tasks into the hands of remote operators and intelligent machines.
If Capability X can get its growing network of intelligent devices to deliver on those lofty goals, workplace safety may prove to have been merely the steel-capped boot that kicked the door down to a global opportunity.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
