Briefcase: Business Snippets from around South Australia

In this week’s briefcase, pharmaceutical company Noumed breaks ground on its $100 million manufacturing facility, South Australia shows its hydrogen potential in Tokyo, and Adelaide’s visitor economy looks up.

Feb 26, 2024, updated Feb 26, 2024
An image of the $100 million Noumed facility. Photo: Noumed.

An image of the $100 million Noumed facility. Photo: Noumed.

Noumed breaks ground on $100m pharmaceutical manufacturing facility

Construction has begun on a purpose-built facility in Adelaide’s northern suburbs for Noumed Pharmaceutical’s manufacturing capabilities.

Being built in partnership with Terre Property Partners, the plant will be the “most modern of its kind”, according to Noumed.

The plant will be built on a 43,000sqm site at Terre’s Nexus North Industrial Estate in Salisbury South, where Asahi, Telstra, Haighs Chocolates and FJT Logistics will also be located.

“We are thrilled to continue our relationship with Noumed Pharmaceuticals within the Nexus North Industrial Estate,” Terre Property Partners CEO Mark Brammy said.

“The location is an ideal place for high-tech industries and we’re looking forward to Noumed leading the way in Australian pharmaceutical manufacturing, right here in South Australia.”

David Simmons

Interim financial results for Bendigo and Adelaide Bank released

Bendigo and Adelaide Bank Limited has reported cash earnings of $268.2 million and a statutory net profit after tax of $282.3 million in its 2024 Interim Financial Results for the half year, which ended on December 31, 2023.

The bank also reported that while total lending was down 0.7 per cent, customer deposits grew 3.5 per cent, with those at community banks growing 5 per cent.

“The results reflect our prudent management of shareholder capital and the unique opportunities it has created for our bank,” said CEO and Managing Director Marnie Baker.

“Customer growth remains strong, with a year-on-year increase of 8.3 percent to 2.47 million and the Bank’s Net Promoter Score is 27.8 points above the industry.”

– Charlie Gilchrist

Engineers and consultants form alliance

Engineers Australia and Consult Australia have solidified their 90-year relationship with a formal agreement to collectively address challenges and explore growth opportunities.

With a strategic focus on ethics, diversity and mental health, the collaboration aims to enhance the standing of both engineers and businesses.

Key objectives include advancing the presence of women in engineering, fostering healthier workplaces, and ensuring standardised education and government registration for engineers.

Tasos Katopodis, President of Consult Australia, said they represent businesses in design and engineering and understand the importance of engineers in society.

“Australian engineering has long been at the forefront of our nation’s development, offering solutions to complex challenges and shaping our built and natural environments,” he said.

Engineers Australia President Dr. Raj Aseervatham said the partnership also underscores a commitment to sustainability, innovation and advocating for reforms that improve global and local access to skills.

“Together, we are dedicated to fostering a thriving future for the engineering and consulting professions, driven by integrity, excellence and a shared vision for positive change,” Aseervatham said.

– Jim Plouffe

SA to spruik local energy tech at 2025 Osaka World Expo

South Australian innovations will be on show at the Osaka World Expo in Japan next year, in partnership with the Australian Government as part of a “Team Australia” showcase.

The theme of the Australian Pavilion is “Chasing the Sun”, and Australian clean energy and low-emissions tech will be showcased.

More than 150 countries will participate in the World Expo with 28 million visitors expected to attend.

The state government committed $1 million as a “gold partner” for the Expo.

“Expo 2025 will provide South Australia with the opportunity to network on a global scale as part of the Federal Government’s Australian Pavilion,” Trade and Investment Minister Nick Champion said.

“SA’s prominent location will enable our state to expand our international trade and investment connections and showcase the support we can offer to companies both near and far.

“Being involved in the Australian Pavilion will enable us to promote South Australia’s innovative economy and key sectors of growth that can have significant impact on some of the global challenges we face today, including climate change and health.”

David Simmons

Hillgrove Resrouces Kanmantoo copper mine. Photo: Hillgrove Resources.

Mining company makes the first transaction from copper production at Kanmantoo

Hillgrove Resources has sold its first copper concentrate parcel from its new Kanmantoo underground mine.

The company said that its production will increase as additional stopes – excavations to remove the copper rendered accessible by the shafts and drifts – are brought into production.

Hillgrove Resources managing director and CEO Lachlan Wallace said the revenues reflect a strategic initiative launched in 2019 to develop a low-capital copper mine using Kanmantoo’s existing infrastructure.

“Delivering the first copper from underground on time and in line with cost is a testament to the capability of the team at Kanmantoo,” he said.

Hillgrove Resources wants to extend the mine life and annual copper production profile through exploration, with sights set on substantial exploration targets near the underutilised processing plant, including the recently discovered Kanmantoo Deeps target.

– Estee Loke

SA hydrogen potential on show in Tokyo

The state government is promoting the state’s hydrogen potential at the international Fuel Cell Expo in Tokyo this week.

The Expo is one of the world’s biggest for hydrogen and fuel cell tech, and SA’s presence is part of $1.2 million committed by the government to showcase the state’s potential at eight major international hydrogen events.

Trade and Investment Minister Nick Champion said the exhibition provided South Australia with an opportunity to demonstrate progress within the sector, and would unlock collaborative opportunities with international stakeholders.

“South Australia’s presence at Smart Energy Week’s Fuel Cell Expo will further promote our state as a global leader within the clean energy sector,” Champion said.

“It will showcase our expertise and our industry leaders to stakeholders from around the world who are interested in investing and developing South Australia’s hydrogen and renewable energy.”

David Simmons

$2.5M grant awarded to clean energy company

1414 Degrees Ltd (14D) has secured a $2.5m grant to advance SiPHyR (SiBrick integrated Pyrolytic Hydrogen Reactor) technology for cost-effective hydrogen production.

The Cooperative Research Centres Projects funding is part of the $5.2m project in partnership with the University of Adelaide, Woodside Energy Technologies, Vulcan Steel, and the Royal Melbourne Institute of Technology.

The grant builds on the recent exclusive license from the university to commercialise its dual-column fluid reactor technology, which will be an integral component of SiPHyR technology for affordable low-carbon hydrogen production.

SiPHyR combines methane pyrolysis, a high-temperature process that transforms methane into hydrogen gas and solid carbon, with 14D’s silicon energy storage technologies SiBrick and SiBox.

SiPHyR is distinct due to its ability to bypass the challenges of carbon dioxide emissions and requires for less power infrastructure than renewable electrolysis.

The project will aim to advance SiPHyR from the current Technology Readiness Level (TRL) 2 to TRL 5 within three years and a scaled demonstration at TRL 7 within two years of the project’s completion.

– Estee Loke

North Terrace skyline. Photo: Toy Lewis/InDaily

AEDA reports a positive visitor economy

The Adelaide Economic Development Agency (AEDA) has reported a positive visitor economy for the fourth quarter from October to December.

The AEDA Visitor Economy Report found that in December, flight passengers to South Australia were up 24 per cent at 722,000, while the number of hotel rooms booked was up 8 per cent at 140,000.

According to the AEDA, there was an average monthly demand of 151,107 hotel rooms in 2023, with hotel occupancy reaching its peak on New Year’s Eve when 87 per cent of rooms were booked in the city.

The highest spending states in 2023 were Victoria and NSW, with peak interstate spending periods in school holidays and around major events such as Gather Round and the Fringe.

– Charlie Gilchrist

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