Device boosts safety for industrial workers
The Mandurah-based developers behind an innovative nut tipped to go global have received $519,245 to help prepare it for the domestic and international market.
Segnut has developed what is touted as a faster, safer fastening system designed to reduce downtime by allowing the removal of most studs or bolts in a fraction of the time of conventional bolting systems.
The nut design consists of an inner section with three segments encased by an outer sleeve.
When the outer sleeve is turned in the tightening direction, the Segnut releases from the bolt and falls away.
Segnut is one of 11 businesses offered a slice of $5 million in commercialisation grants announced by the assistant Minster for Industry, Innovation and Science Craig Laundy under the Accelerating Commercialisation element of the Australian Government’s Entrepreneurs’ Programme.
“These grants will help the recipients to conduct commercialisation activities, proving the viability of their products, processes or services and preparing them for domestic and international markets,” he said.
Canning MHR Andrew Hastie said the innovative product was further evidence of good things coming out of the Peel region.
“Segnut’s design is significantly safer for workers doing heavy industrial maintenance as it eliminates the need for oxy-cutting and other dangerous equipment,” he said.
“The increased efficiency it offers to maintenance will also mean significant savings for business.”
Canning MHR Andrew Hastie with Segnut chief executive Tom Baskovich.