Austal establishes strategic partnership with Spectainer

MEDIA RELEASE

8 JULY 2022

Austal establishes strategic partnership with Spectainer

Austal Limited (ASX:ASB) is pleased to announce the establishment of a strategic partnership with Spectainer, an industrial technology developer for shipping and logistics.

Spectainer https://spectainer.com/ has developed an innovative, fully patented collapsible container, COLLAPSECON® and associated, fully automated COLLAPSECON® Operating Station (COS) that improves operational efficiencies, delivers economic savings and reduces environmental impact across global logistics supply chains, without requiring a fundamental change to the industry or trade.

The strategic partnership is centered on optimizing COLLAPSECON® and the Operating Station (COS) for mass manufacturing at Austal Vietnam’s shipyard in Vung tau; and includes developing production capability, capacity and the necessary material supply chain to support mass production of COLLAPSECON® and COS.

Austal Limited Chief Executive Officer Paddy Gregg said “Austal is very excited to be involved with Spectainer in a venture that has tremendous potential to positively impact global greenhouse emissions. We are confident that our team of skilled engineers, in Vietnam and Australia, working closely with Spectainer will successfully bring this game-changing product to market.”

Spectainer’ s Managing Director Nicholas Press said: “We are thrilled to be partnering with Austal for the optimization and mass production of COLLAPSECON® and COS. Austal is one of the best ship builders not just in Australia, but globally. Austal partnering with Spectainer for mass manufacturing will ensure that we can deliver COLLAPSECON® and COS reliably, cost effectively and at scale, thus enabling us to achieve our goal of establishing COLLAPSECON® as the world’s first mass-produced collapsible container solution”.

COLLAPSECON® containers are designed so that 4 collapsed containers may be transported in one container, resulting in meaningful economic savings, increased operational productivity on land and sea, and reduced carbon emissions.

Austal Limited and Spectainer have entered the strategic partnership with the aim of developing a business model that may be formally established as a manufacturing supply contract within the next 6 months.

COLLAPSECON® containers are designed so that 4 collapsed containers may be transported in one container, resulting in meaningful economic savings, increased operational productivity on land and sea, and reduced carbon emissions (Image: Spectainer)

-ENDs-

Media Contact:

Cameron Morse

+61 433 886 871

cameron.morse@fticonsulting.com

About Spectainer:

Spectainer is pioneering the future of global trade by creating innovative and practical solutions to evolve the shipping and logistics sector.

Contact

Web:                www.spectainer.com

Email:              contact@spectainer.com

Address:          Aurora Place, Level 10, 88 Phillip Street, Sydney NSW 2000 Australia