Next-gen; mining/resources tech company pulls trigger on global expansion

Connec, who has developed and commercialised the most economical and safest high voltage connector systems in the world, incorporating fiber optic data transmission. It has bolstered their North American consortium, and secured a significant $6 million letter of intent in Australia. 
Connec, who has developed and commercialised the most economical and safest high voltage connector systems in the world, incorporating fiber optic data transmission. It has bolstered their North American consortium, and secured a significant $6 million letter of intent in Australia.  The deal has been done with one of the five largest mining conglomerates in the world, which will form the base of a joint technology development and implementation initiative The global mining industry is dominated by companies wanting to achieve optimal efficiency via the implementation of smart technology autonomous equipment monitoring. The existing connectors market is worth A$1BN p.a and the replacing hard wire termination market is worth A$1.2BN p.a. forecast to grow at a compound annual growth rate (CAGR) of 4%.  For mining businesses with massive daily turnovers, having a solution like Connec’s can help decrease mine downtime, improve safety and reduce the risk to human lives, making autonomous mining and resource companies easily accessible while saving on expenses. For Connec, this presents an opportunity to disrupt existing and dated technology across a range of industries, including tunnelling, oil and gas, ship-to-shore and power transmission. Connec’s new technology, enables cable connection and fit off to be completed in less than 3 hours. A significant time saving for companies compared with conventional systems (24 hours). Connec is targeting a market share of 10% in the connector industry and greater than 5% in the terminations market by 2032. Join Connec Chairman Kim Manley for a live investor briefing on Thursday 9th March at 1pm (AEDT). Kim will discuss how Connec’s safer and more economical systems can disrupt the potential $4.4 billion global market. Click here to book in or request the replay.

  Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Connec and may receive fees for its services.

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