The National Reconstruction Fund Corporation (NRFC) to invest $50 million of preferred equity in Advanced Navigation, an Australian company that has produced Positioning Navigation and Timing (PNT) solutions for use by the mining, defence, aerospace, automotive, and marine sectors.
"Using technology developed across Australia, with research hubs in Newcastle, Western Australia, Sydney, and Canberra, Advanced Navigation uses robotics, AI and high-precision sensing to improve navigation in the mining, defence, aerospace, automative and agricultural sectors – solving uniquely Australian problems with uniquely Australian solutions," Minister for Industry and Innovation & Minister for Science, Senator Tim Ayres, stated.
Inertial Navigational Systems (INS) is an alternative to Global Positioning Systems (GPS) and has been designed to maintain high accuracy when GPS signals are degraded, denied or lost.
While both GPS and INS can be used in PNT technologies, conventional GPS is susceptible to spoofing or jamming, vulnerable to solar storms and weather extremes, and cannot be used underwater or underground.
By combining INS, robotics, AI, and high-precision sensing, Advanced Navigation’s PNT solutions can, the company believes, overcome GPS’ vulnerabilities and deliver next generation navigation systems.
“NRFC investment in Advanced Navigation will keep the company’s headquarters, core R&D, and high-precision manufacturing capabilities here in Australia, building our sovereign and defensive capabilities and paving the way for the navigational tools of the future," NRFC CEO, David Gall, highlighted.
NRFC funding will be used to support Australian manufacturing of the company's hardware and software and will also be used to commercialise its Australian developed intellectual property both domestically, and in overseas markets.
“The era of relying on a single silver bullet for navigation is over. Across defence, energy transition, humanitarian response, and autonomous missions, certainty is required where GPS can no longer be trusted," Advanced Navigation CEO & Co-Founder, Chris Shaw, said.
NRFC investment is part of a $158 million Series C funding round led by by Airtree Ventures. Other investors include Quadrant Private Equity, Main Sequence, KKR, In-QTel, Alpha Intelligence Capital, Malcolm Turnbull and OIF Ventures.
Advanced Navigation has been a partner to Anduril, National Oceanic and Atmospheric Administration (NOAA), Hanwha, BHP, Rheinmetall and Intuitive Machines. The company has also commenced accelerating its global expansion, scaling its deep tech operational and engineering presence across the US and European markets.