Hitachi Construction Machinery has invested $10m into Australian richlister-backed Envirosuite to aid the Tokyo-listed company’s net zero ambitions.
Envirosuite, whose investors include Alex Waislitz’s Thorney Investments, Perennial and Ellerston, describes itself as an environmental intelligence technology company.
Hitachi Construction Machinery will acquire a 12 per cent holding in the company, with its investment priced at 5.8c per share.
Envirosuites shares have plunged 25 per cent in the past six months, with the ASX-listed company now valued at $57m, but in the past month have rallied 12.5 per cent.
Hitachi Construction Machinery vice president and executive officer Eiji Fukunishi said: "We are excited to be investing in a strategic relationship with Envirosuite".
"Their decades of experience and commitment to environmental and social responsibility while helping customers achieve their productivity goals aligns perfectly with Hitachi’s vision for ‘ensuring a prosperous land and society for the future, and contributing toward realizing a safe and sustainable society’.
"Through this investment, we hope to leverage Envirosuite’s solutions, data scientists’ analytical capabilities, and its findings and know-how in subscription business in order to further refine Hitachi Construction Machinery’s solutions in the Mining business."
Get rid of the CEO and it's probably a good investment. Looks like the major shareholders have flexed their muscles to get something positive going. I'm much more interested in the company now.Waislitz-backed Envirosuite backed by Japanese company
