Stockbroker Wilsons is drumming up interest in a $30 million growth capital funding round for Melbourne-based material testing company Southern Innovation.
Southern Innovation directors David Scoullar , Paul Scoullar and Adam Lewis are seeking investors to buy new shares in the company.A pitch sent to potential investors, seen by Street Talk, said Southern Innovation’s SITORO technology provided real-time materials analysis quickly and accurately, with an initial focus on recycled glass manufacturing, bulk minerals, battery and critical minerals and battery recycling.
Investors reckon there’s talk of a potential IPO in Southern Innovation’s future, although that could be a few years away. They’re yet to see what sort of valuation Southern Innovation would seek as part of the $30 million equity raising.