Australian army boat builder raising $20m for US expansion
Washington | Australian tactical boat builder The Whiskey Project (TWPG) is seeking to raise $20 million for an expansion into the US to buildhighly specialised craft for US defence force use in shallow waters.
The Sydney-based company, which already has $50 million in contracted revenue from Australian federal and state police departments, counts Ellerston Capital, Perennial Partners and OC Capital among those backing the latest cash call.
The Whiskey Project’s Darren Schuback has been in the US speaking with military and congressional officials about building the next-generation boats. Leigh Vogel
The company, which is in final contract negotiations with the US Department of Defence for its new craft, is being advised by Adelaide Equity Partners on the capital raising.
Managing director Darren Schuback visited the US earlier this month for talks with Pentagon and congressional officials on the design of their specialised 9- and 12-metre boats, called “The Alpha” and “The Bravo”, respectively.
He also spoke with officials at state economic development departments about setting up shop.
“The use of funds is focused around further expanding the company into US and European markets,” Mr Schuback said. “We are specifically looking at supporting our US supply chains focused around Mississippi, Virginia and North Carolina, which are all major shipbuilding states and for which there is a lot of leverage on the US Senate Armed Services Committee.”
After having run down its maritime assets in the Indo-Pacific for decades, the US is now scrambling to rebuild with high-tech watercraft capabilities in the face of rising China militarism in the region.
The Whiskey Project’s boat provides greater shock absorption.
“We’ve noticed
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