SRJ Technologies Secures A$2.53M to Power Middle East Expansion

Capital Raise Completes Successfully

SRJ Technologies Group Plc (ASX, SRJ) has announced the successful closure of the retail component of its accelerated non-renounceable entitlement offer, raising approximately A$1.15 million before costs. Combined with the earlier institutional tranche, the total capital raised stands at about A$2.53 million. This funding milestone marks a critical step in SRJ's strategic growth plans.

Backing for Middle East Ambitions

The freshly raised capital is earmarked to support SRJ’s entry into a 50, 50 joint venture with a National Oil Company (NOC)-registered partner. This collaboration is set to deliver a multi-year scope of work valued at over US$6 million in the Middle East, a region known for its complex and lucrative energy sector. The joint venture underscores SRJ’s commitment to expanding its footprint in key international markets.

Strategic Acquisition in UAE

In addition to the joint venture, SRJ is progressing with the acquisition of an NOC-registered entity based in the United Arab Emirates, announced earlier in July 2025. This move is expected to enhance SRJ’s local presence and operational capabilities, providing a platform for delivering its advanced asset integrity and inspection services, including robotics and UAV technologies, to a broader client base.

Shareholder Support and Market Impact

The entitlement offer was strongly supported by existing shareholders, with eligible holders offered eight new Chess Depository Interests (CDIs) for every nine held at a price of A$0.004 per CDI. The new CDIs are scheduled for issuance on 26 August 2025 and will begin trading on the ASX the following day. SRJ’s Chair, George Gourlay, expressed confidence that the capital raise positions the company well to execute its strategy and create long-term shareholder value.

Looking Ahead

SRJ’s focus now turns to integrating the joint venture and acquisition into its operations and delivering on the contracted work in the Middle East. The company’s advanced robotic inspection technologies and consulting services remain central to its value proposition, especially as energy infrastructure faces increasing regulatory and operational challenges globally.