Energy Technologies topped this week’s movers on the ASX after its wholly owned subsidiary Cogenic signed a binding heads of agreement with Israeli tech group SYNCH that could lead to purchases worth up to US$10 million (around A$14.25 million).
The one-year framework begins with a paid proof-of-concept for US$250,000 to deliver 10 field-operational units. If the trial is successful, SYNCH may place follow-up orders totalling up to US$10 million over the subsequent 12 months.
Cogenic makes lightweight smart glasses that combine a heads-up display, two-way communications and body-worn video, using proprietary laser beam-scanning and MEMS technology to keep the display visible in direct sunlight and preserve battery life. The company says the product is aimed at frontline users juggling multiple devices.
"overloaded operator"
Management has said it can produce the first 10 trial units within 12 weeks of receiving final specifications and scale output to as many as 1,000 units every 10 days if demand materialises. The company cites an illustrative addressable market of about US$42 billion, while the market responded by sending shares up as much as 315% across the week.
Also among the week’s notable moves, RAS Technology Holdings agreed to be acquired by UK-based The Press Association Limited for $1.04 cash per share, valuing the business at roughly $49.8 million. The price represents a roughly 93 per cent premium to recent trading levels and the deal is expected to complete in February 2027.
Co-founders Gary Crispe and Robert Vilkaitis, who together control about 34 per cent of RAS, have indicated they intend to support the scheme implementation deed. RAS operates the Racing and Sports data and wagering platform and the Press Association says the acquisition complements its long history of racing coverage.
Junior explorer Tambourah Metals delivered the third major mover after assays from its Bryah Basin program returned strong results at the Baxters South prospect, including 4m at 41.7g/t gold from 55m, with 1m at 146.5g/t within that interval. A deeper intersection in fresh rock returned 3m at 35.5g/t gold from 169m.
The Bryah project spans about 467 square kilometres in WA’s Murchison region, roughly 160km north of Meekatharra and close to the 250,000-ounce Harmony deposit. Tambourah is currently running a $2.2 million non-renounceable entitlement offer at 3.5c per share, with a free 6c option for every two new shares applied for.
The broader market backdrop this week was volatile. Geopolitical tensions and renewed Houthi attacks pushed Brent crude above US$113 a barrel, while technology stocks retraced after early rallies: the Nasdaq surrendered more than 2.5 per cent mid-week. SpaceX posted results that surprised to the upside, with revenue jumping 161 per cent to US$14.6 billion and a US$4.4 billion profit, but that did not prevent a pullback in some AI-exposed names.
Security concerns around artificial intelligence also flared, with reports of China-aligned actors using AI agents to target organisations and critical vulnerabilities in widely used language components prompting urgent patching across the internet. Domestically, data-centre operator NEXTDC plunged 42 per cent after delays to electricity network upgrades forced it to cut forecasts and pause new developments, adding pressure on small caps.
Small-cap indexes took a hit amid tax-policy uncertainty, with the ASX Emerging Companies index down more than five per cent for the week and roughly 15 per cent over the past month as investors reassessed risk and prospective changes to capital gains tax. The Cogenic trial timetable means the next few months will be decisive for Energy Technologies if the SYNCH proof-of-concept proceeds on schedule.
