Spectainer, an industrial technology developer for shipping and logistics, is pleased to announce the completion of its Series B Funding Round, raising AU $7.5 million.
Spectainer combines innovative design with a holistic and scalable service offering. Spectainer exists to positively impact industry with an efficient and sustainable ethos to global shipping and logistics.
Following the establishment of a US $75 million financing facility with the Climate Fund Managers of The Netherlands (June 2021) and recent Strategic Partnership with Austal Limited (July 2022), Spectainer continues to progress its goal of establishing COLLAPSECON® as the world’s first mass-produced collapsible container solution.
Spectainer has raised additional funds through a fixed-price process that was fully subscribed. The funding round included strong support from existing shareholders as well as investment from two Australian Stock Exchange (ASX) listed companies; BlueScope Steel Limited (via its ventures arm BlueScopeXTM) and MA Financial Group. BlueScope Steel Limited (www.bluescope.com) is Australia’s, and one of Asia’s largest steel producers. MA Financial Group (www.mafinancial.com) is an Australian financial services firm specialising in asset management, lending, corporate advisory and equities with AU $7.2 billion in assets under management.
The proceeds of the round will be used to support production and commercial operations as part of establishing Spectainer’s first fleet of COLLAPSECON® containers.
The Company’s Managing Director Nicholas Press said: “Spectainer is pioneering better trade by offering a holistic solution for the industry. Earlier generations of collapsible containers have not addressed operational, economic or environmental concerns. We believe that COLLAPSECON®, as part of our holistic solution will significantly improve operational efficiencies as well as contribute highly to long-term sustainability across shipping and logistics”.
Press went on to say “it is fantastic to receive such overwhelming support for this share issue. Following the establishment of the US $75 million financing facility and the Strategic Partnership with Austal Limited, the successful closing of this round demonstrates investors’ confidence in the solutions we are offering. Notably, receiving investment from two high profile, ASX-listed companies provides significant confidence and capability as we ramp up production and begin to deploy the fleet. Being backed by Australia’s largest steel producer as well as a strong financial institution such as MA Financial demonstrates that we are building the foundations necessary to implement COLLAPSECON at scale”.
The total container fleet size is growing to unseen levels while innovation has relatively stagnated, creating a year-on-year US $34 billion global headache for the shipping industry. Spectainer is pioneering better trade by introducing a holistic solution to the problem. An entirely new solution centered around COLLAPSECON© that results in meaningful economic savings, increased operational productivity on land and sea, and reduced carbon emissions.
Spectainer is pioneering the future of global trade by creating innovative and practical solutions to evolve the shipping and logistics sector.
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