An Australian recycler of old computers, phones and other e-waste that took in $15 million in government equity funding has been snapped up for a fraction of the money it raised after it entered administration in March.
Scipher Technologies took in $7.5 million apiece from the Clean Energy Finance Corporation and the Australian Business Growth Fund in 2022, but escalating losses due to overspending on growth plans and increased competition in the e-waste processing sector led to its failure.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
