Live ASX News Today

• 21^st Jun 05:58 PM AEST

  

---

• 21^st Jun 05:25 PM AEST

  

---

• 21^st Jun 03:51 PM AEST

  

---

• 21^st Jun 02:57 PM AEST

  

---

• 21^st Jun 01:42 PM AEST

  

---

• 21^st Jun 01:17 PM AEST

  

---

• 21^st Jun 12:33 PM AEST

  

---

• 21^st Jun 12:25 PM AEST

  

---

• 21^st Jun 11:42 AM AEST

  

---

• 21^st Jun 08:41 AM AEST

  

---

• 20^th Jun 06:06 PM AEST

  

---

• 20^th Jun 05:43 PM AEST

  

---

• 20^th Jun 04:53 PM AEST

  

---

• 20^th Jun 04:17 PM AEST

  

---

• 20^th Jun 12:37 PM AEST

  

---

• 20^th Jun 12:19 PM AEST

  

---

• 20^th Jun 11:53 AM AEST

  

---

• 20^th Jun 11:28 AM AEST

  

---

• 19^th Jun 12:06 AM AEST

  Resumption of coal power plants into service cools Australia’s power crisis

  

  Source: © Sofiaworld | Megapixl.com

  Nearly one-third of the coal-power generation returned to service in eastern Australia, minimizing the risks of blackouts in the region.

  • The densely populated eastern region of Australia has been facing a power crisis since mid-May as nearly one-fourth of the total coal-fired capacity has not been working due to unplanned outages and maintenance.
  • On Wednesday, the market operators took the unprecedented step of taking control over power supply and pricing by suspending the national electricity market.
  • The resumption of power plants to service has brought 1,900MW of capacity back since Wednesday, as per the Australian Energy Council.
  • Big manufacturers and miners so far have not been affected by skying energy prices, as they were having long-term contracts at fixed prices. On the flip side, smaller businesses got hammered.

---

• 19^th Jun 12:04 AM AEST

  Shark Skin-inspired coating manufacturer, MicroTau receives AU$5.6M in seed funding 

  

  Image source: © Ramoncarretero | Megapixl.com

  Details about investors:

  A manufacturing start-up, MicroTau announced that it had received AU$5.6 million in a seed round. MicroTau is a Sydney-based climate tech start-up manufacturing shark-skin-inspired coating that can reduce wind drags on the plane. The reduced drags can save billions of dollars in the aviation industry.

  The Clean Energy Finance Corporation of Australia, which invested AU$2 million, is a major contributor to the seed round. Other investors, including Bill Tai, Amanda Terry, and Bandera Capital, participated.

  Research and Development 

  MicroTau researched continued for 6 years before it came out with the first product. 

  The microscopic film, inspired by the shark skin, can be applied on the aircraft surface during maintenance. This coating will help reduce the wind drag and simultaneously cut emissions with improvement in fuel efficiency.

  As per the company’s website, testing has shown a 7% reduction in drag.

  The MicroTau product is trying to solve a significant issue the aviation industry encounters. The fuel problem is an evergreen issue that only worsens with time. Increasing fuel prices is added nail in the coffin. Operators are looking for solutions to decrease fuel consumption.

  According to the @AUManufacturing article, the microscopic film of MicroTau can save over US$34 billion in fuel costs if rolled out commercially across the aviation and shipping industry.

  This MicroTau film can also be used to reduce carbon emissions and bring us closer to the 2030 target. It can be retrofitted to the existing transport.

  Use of Proceeds 

  The funds raised in the seed funding round will be used 

  • To quality the biomimetic film for use in the large commercial aviation industry. 
  • Increase team size and include business development specialists, engineers, and scientists 
  • Scale its manufacturing to supply the international airlines

---