After 10 years’ development, material scientist Paul Huggett is ready to take his composite alloy products to the world. But the Perth inventor knows he needs to conquer the local market first.
After 10 years’ development, material scientist Paul Huggett is ready to take his composite alloy products to the world. But the Perth inventor knows he needs to conquer the local market first.
During the past decade, Mr Huggett has developed and patented a unique metal casting process for the manufacture of wear-resistant metal consumables that has significant potential applications in the mining, construction, auto, aerospace and defence sectors.
The alloy composite is made of bonded white cast iron and steel and is cast in a way Mr Huggett believes makes the resulting product stronger, longer lasting and more cost efficient than traditional methods.
Currently taking its first steps towards commercialisation, Composite Alloy Products Pty Ltd is focusing on the manufacture of ground-engaging tools, including front loader buckets, grader and dozer blades used in mining and other digging work.
Beyond wear products, Mr Huggett’s metal bonding process is understood to have applications in a range of industries.
He told WA Business News the company was working from a small pilot plant in Midland and required venture capital funding of $500,000 to facilitate a move to larger premises next year.
“We’re currently negotiating with a number of people and should have the venture capital by the end of November,” Mr Huggett said.
“Our capital requirements are quite small. Our technology is not like traditional large-scale manufacturing operations that are bulky, it’s a contained heat treatment-style process that is highly recyclable.”
Composite Alloy Products had its origins in 1997, taking shape at a Tafe foundry in Wembley while Mr Huggett was working part-time as a lecturer in metallurgy.
The journey has not been an easy one, with Mr Huggett having spent the past 10 years working on additional projects to fund his passion, estimated to have cost him more than $1 million to develop.
But the hard work seems to have paid off this year, when Mr Huggett received recognition in the state government’s WA inventor of the year competition, where he was a second runner-up.
Interest from the mining sector has grown since the awards recognition.
While confident of success, the company’s five shareholders are keen to ensure all investors bring something positive to the operation.
“We want the right partner and not just the money. Potential investors must be able to create opportunities for us to sell products,” Mr Huggett said.
The company is intent on first securing a foothold in the WA mining industry with a small volume of product, ahead of a potential ASX listing at the end of 2008.
