Connec disrupts technology unchanged for 40 years

Think about what technology was like in the 1980s. Cassette walkmans were breakthrough technology. So-called mobile phones weighed almost a kilo. The original Macintosh cost $2500 and it got you a mindblowing 125KB of RAM. Now imagine that this technology occasionally sparked and caused serious injuries. It’s inconceivable that we’d still use this technology… isn’t it? 

Maybe it’s not so far-fetched. The high voltage coupler system (HVCS), electrical cabling used in almost every mining industry, has remained unchanged for 40 years. This isn’t a case of if it ain’t broke, don’t fix it – legacy HVCS are plagued with occupational safety issues. This includes the potential for electrocution and explosion. 

Founded in 2014, Connec had a mission to rethink HVCS. Backed by the NSW and Queensland governments and the mining industry, Connec has developed the lightest, safest, and most economical HVCS. 

The major innovation sounds simple: The new HVCS have a polymer body and components, rather than metal. But this simple solution addresses all of the major drawbacks of legacy HVCS: 

Lightweight design reduces workplace injury:

HVCS need to be set up and dismantled by hand, but the legacy metal-coated HVCS are extremely heavy. It’s like carrying two bags of cement. It’s no surprise that heavy cabling causes one in five mining injuries.

Connec’s new HVCS have an outer body and components of polymer. It’s like carrying just one bag of cement – around 20 kilos. This innovation alone could reduce overall workplace injuries in underground mining by 20%. This could also reduce financial cost due to compensation and out-of-action employees. 

Safer live/dead testing reduces risk of explosion and electrocution:

With industry-standard HVCS, operators need to disconnect the couplers to test for live or dead currents. As they are metal clad, they are highly conductive. This exposes operators to live wires which can ignite and explode.

The polymer outer body and components of Connec’s HVCS is non-conductive and non-explosive. That means the new HVCS insulate rather than conduct – the only one of its kind on the market. The insulation properties drastically lower the risk of workplace injury or death caused by explosion and electrocution. 

Significantly cheaper to install, operate, and maintain

As well as lowering the risk of injury and subsequent financial loss, Connec’s new HVCS are significantly  cheaper to install, operate, and maintain than legacy competitors. 

The safer polymer insulation of Connec’s HVCS is also more energy efficient than legacy systems. This coating also protects the electrics from moisture and dust damage. This reduces maintenance costs, as well as potential out-of-action time.

Rapid market acceptance, adoption, and access to over $400M market

The financial barriers for mining companies to adopt Connec’s HVCS are negligible compared to the current industry-standard systems. 

As Connec’s HVCS is endorsed and supported by the mining industry and Australian state governments, the new systems have huge market potential, as well as rapid market acceptance and adoption. 

The systems are forecast to generate USD$100 million per year. 

Connec is already completing installation contracts with Idemitsu, Snowy Hydro 2, and Anglo American. Now BHP, Rio Tinto and S32 are on the wait-list. 

It goes to show that when they’re done right, the simplest innovations can turn an unchanged market upside down. 

Reach Markets recently completed a capital raise for Connec. If you would like to be made aware of similar opportunities, please click here. 

 

Reach Markets are the advisors assisting on with the management of this offer and may receive fees depending on whether an offer is taken up by investors.