CFO - The Turn Around, page-216

MC only $18 Million.

Company has a diverse and interesting portfolio of investments currently.

The recent investment in Innovaero Technologies looks like a very strategic investment for the Company.

"Further to the ASX release of 24 November 2020, CFOAM Limited (ASX:CFO) is pleased to announce it has settled its investment in Innovaero Technologies Pty Ltd.CFOAM Limited has invested $1,550,000 to acquire an initial 10.24% share in Innovaero Technologies Pty Ltd (Innovaero) and looks forward to Innovaero’s exciting initiatives in the coming months ahead.Innovaero is a well-established and highly successful Australian aeronautical engineering firm based in Western Australia, with long-term export contracts and multiple award-winning capabilities in engineering design, manufacturing, and certification (CASA).Established a decade ago, Innovaero is currently profitably manufacturing and supplying the Spookfish camera technology to Eagleview Technologies in North America. This has been ongoing since Spookfish was sold to Eagleview in 2018 for A$140million. As part of this sale, Innovaero negotiated a long-term supply contract with Eagleview."
"Innovaero is currently working with CFOAM on trialling CFOAM products for use in the tooling/manufacturing of composite components which could open new markets for the CFOAM products outside of the traditional North American and European markets it currently serves."
The strategic stake holding in Innovaero could definitely open up potentially lucrative markets for CFOAM products in the future. Looks like a very smart investment by the management team.

I would also expect to see an update from management early this coming week confirming that the Continuous Processing of Carbon Foam Products Made from Coal at Amtmospheric Pressure development program has kicked off in the USA on Jan 1st 2021.

"CFOAM has already made good progress in the lab on Atmospheric Pressure Carbon Foam and we believe that this was instrumental in CFOAM’s application being selected for award. This has provided a solid base for this exciting project and will allow CFOAM to hit the ground running when the project commences on 1 January 2021."

 The CFOAM project is to commence on 1 January 2021
 This project will target applications capable of utilizing carbon foam at large scale,transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications).

Love the potential for this CFOAM product to be used in building cladding, that could be massively lucrative market for the Company if their product can get the exposure it needs and the sales.

"CFOAM will also be contributing to Ohio University’s project Coal-Deriver alternatives to Fiber-Cementitious Building Materials, where they plan to develop coal-based siding materials for residential and commercial building cladding applications. "