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clock Created with Sketch. 02/01/21
22:15
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Originally posted by kellbys:
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MC only $18 Million. 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. 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." 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. "
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