• The Kronos armoured submarine looks like a high-tech manta ray space ship
  • Nearly a unicorn Nearmap says it could be cash flow positive in FY24
  • SILEX welcomes US Inflation Reduction Act, eyes commercialisation of its laser enrichment tech


UAE-based start-up Highland Systems has developed a futuristic submarine that looks like a manta ray on steroids.

The Kronos armoured submarine is dual-powered with a diesel generator as well as an electric engine which, when combined, can deliver up to 54 hours of operation.

It can carry six mini-torpedoes as well as 10 passengers and is “suitable for commercial, rescue and combat operations,” the company says.


Kronos submarine inside
Plenty of room for people and torpedos. Source: Highland Systems.


The vessel will have a carrying capacity up to 3000kg and a top speed underwater is of 27 knots, with a cruising speed of 16 knots.

When powered by a diesel engine, the Kronos can deliver a top speed 80 km an hour while on water and 50 km an hour when under.

It’s not the first time a manta ray has been used as inspiration.

The U.S. Defense Advanced Research Projects Agency (DARPA) is working on an unmanned underwater vehicles (UUVs) program called Manta-Ray which aims to “operate for extended durations without the need for on-site human logistics support or maintenance.”


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Days after a unicorn-making takeover offer, Nearmap has released its FY22 results which include a record ACV portfolio of $159.9m, at the top of initial FY22 guidance of $150m-$160m.

This represents 25% year-on-year growth which the company says was driven by continued strong performance from its North American business including roofing, insurance and government verticals.

Plus, a solid 73% of the portfolio (around $122m) now relates to subscriptions incorporating premium content – that’s a 45% increase on the previous corresponding period.

“FY23 represents a year of execution for Nearmap. We will continue the roll out of our world leading aerial camera systems, HyperCamera3, with five systems targeted for production and delivery to North America in the first half of FY23,” CEO and MD Dr Rob Newman said.

“We will remain focused on our strategy, successfully driving further growth from our ACV portfolio and we remain on track to generate positive free cash flow in FY24.”



This semiconductor player has welcomed the US Inflation Reduction Act which includes a US$700 million funding package to support the High Assay Low Enriched Uranium (HALEU) availability program to be conducted over the next four years by the US Department of Energy (DOE).

HALEU is the fuel required by many of the emerging advanced Small Modular Reactors (SMRs) – the next-generation of nuclear power technology.

“The signing into law of the Inflation Reduction Act this week is a pivotal turning point in the revitalisation of nuclear power in the US,” CEO and MD Michael Goldsworthy said.

“The IRA is a cornerstone of America’s response to climate change, and recognizes nuclear power as a critical component of a carbon free, resilient and stable electricity grid.”

Global Laser Enrichment (GLE), the exclusive licensee of the SILEX laser technology for uranium enrichment, will explore opportunities to be a potential participant in the HALEU Availability Program.

“As the US Government ramps up initiatives to domesticate its nuclear fuel supply chain and lessen its dependence on nuclear fuel imports, particularly from Russia, we expect GLE may have increasing opportunities to commercialise the SILEX technology,” Goldsworthy added.



The company has received a A$2.7m order from an US Federal Government agency customer for specialist body armour and ballistic helmets.

“HighCom Armor is a trusted provider of high performance, life-saving, ballistic personal protection equipment to Federal, State, and Local law enforcement agencies across the United States and around the world,” CEO Scott Basham says.

“This order, valued at A$2.7m, and comprising many thousands of individual items, will be built, shipped, and delivered from our Columbus OH facility, to this important US Government Federal Agency in the coming weeks, and will be completed in full before the end of September, with revenues recognised in Q1 FY23.”

Basham said it’s a cracking start to the new financial year, with the company having already recognised US$11m (~A$15.6m) so far in Q1.



Real estate platform Domain had a solid FY22, reporting revenue of $357m (up 23.2%) and a net profit after tax of $35.1m plus a dividend of 4.0 cents per share.

Core Digital Revenue (including Residential; Media, Developers & Commercial; Agent Solutions and Property Data Solutions) increased 22.6%.

“Residential revenue increased 23% to $239.2 million, supported by outstanding depth revenue growth of 26%,” CEO and MD Jason Pellegrino said.

“Depth growth was supported by a 9% uplift in new ‘for sale’ listings, and a controllable yield increase of 14%, driven by both price and depth penetration.

“Overall depth penetration and Platinum penetration continued to grow strongly in every state despite the continued COVID disruptions during the first half.

“Our price increases implemented in July 2022 are targeted to drive higher levels of depth penetration, and were implemented with a record number of new Q4 depth contracts which increased 70% YoY.”


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Drone connectivity player Elsight received a repeat order for its Halo platform from Air Methods’ subsidiary Spright.

Air Methods provides air medical services in North America, and Spright was created to help solve many of the toughest time sensitive challenges facing health services for communities across North America.

This is the second commercial order for ‘Halo’ units received in the past 45 days from Spright under the five-year agreement announced on 30 June 2022.

The order consists of both upfront hardware revenue as well as recurring software revenues with further orders expected over 2H calendar 2022.



The Communications-as-a Service (CaaS) company says its on track for positive EBITDA in FY23, after delivering record full-year revenue of $70.6m, up 48%

The company nabbed deals with Department of Education, South Australia, for 900 schools, an 8-year contract with an Australian Government department an Asian telco partnership, and new customer growth of 233% in North America.

“Governments, enterprises and other organisations are now clearly committed to a future where digitisation plays an essential role in ensuring communications are targeted, efficient and effective,” CEO Jeromy Wells says.

“The benefits of incorporating artificial intelligence, algorithms and data to inform how and when to communicate are becoming clear, and this realisation continues to drive our business in all markets.

“Put simply, it is becoming costly for organisations not to invest in intelligent communication services.”



The company’s Texas advanced 3D printing manufacturing facility in Texas has received facility and process approval certification by the American Bureau of Shipping (ABS) – representing the World’s first commercial additive manufacturing facility certified by ABS.

Essentially the certification opens up the opportunity of supplying additively manufactured parts to the global marine and oil & gas market for parts that require “class approval” prior to installation.

The scope of the approval is for production of “Generic Additive Manufacturing Facility Approval for Marine Applications”, specifically in laser powder bed fusion on the Company’s Renishaw AM400 printer in 316L material.



Catapult’s next generation video analysis for sports teams is set to be expanded into its league-wide agreement with the National Hockey League in North America.

The new solution, originally built for Formula One and expanded to soccer, rugby, and recently basketball, will allow for the seamless integration of video capture, cloud-based sharing, and analysis of contextualized performance insights.

Hockey teams will be able to capture, tag, and present multi-angle video and data live during games or practice using Focus.

With Hub’s cloud-based playlists and presentations, insights can be shared across department silos from any location and in real-time, including during games or between periods.

Then GameTracker will provide teams with a new depth to their performance analysis, connecting multiple datasets to video, allowing teams to filter and visualise insights across every game, series, season and player.

Plus, there could be room to grow, Catapult says its hockey business has grown 7x over the last five years – and ACV from Vector athlete monitoring in the sport has doubled in the last year.


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At Stockhead we tell it like it is. While Elsight is a Stockhead advertiser, they did not sponsor this article.