Harvest Technology Draws Down Additional $1M Under $6M RiverFort Facility
Harvest Technology Group has drawn down an additional $1 million from its $6 million RiverFort funding facility, aiming to accelerate growth and strengthen its balance sheet.
- Additional $1 million drawdown under existing $6 million facility
- Convertible securities and options issued without shareholder approval
- Funds targeted at accelerating contracted and pipeline opportunities
- $3.5 million remains available under the RiverFort facility
- Drawdown ratified by shareholders at recent AGM
Funding Boost to Accelerate Growth
Harvest Technology Group Limited (ASX, HTG), a Perth-based leader in remote operations technology, has announced a further $1 million drawdown from its existing $6 million funding facility with RiverFort Global Opportunities PCC Ltd. This latest tranche of convertible securities and attaching options, issued without the need for additional shareholder approval, is intended to support the company’s near-term growth initiatives and operational momentum.
The drawdown follows an earlier $1.5 million tranche drawn in late September 2025, which was subsequently ratified by shareholders at the company’s Annual General Meeting in November. With this latest funding, Harvest Technology now has $3.5 million remaining available under the facility, providing a substantial war chest to pursue its strategic objectives.
Strategic Use of Funds
According to CEO Ilario Faenza, the injection of capital will be directed towards accelerating execution across both contracted projects and promising pipeline opportunities. Additionally, the funds will bolster working capital as the company scales its revenue base, while also strengthening the balance sheet to underpin further growth initiatives.
Harvest Technology’s core business revolves around network-optimised remote operations, delivering real-time control and monitoring solutions that require minimal bandwidth. This niche positioning in remote field services has attracted investor interest, and the company’s ability to secure flexible funding without dilutive shareholder approvals signals confidence in its growth trajectory.
Looking Ahead
While the terms of the convertible securities and options remain consistent with those disclosed in the September announcement, the absence of detailed terms in this update leaves some questions about potential dilution and conversion timelines. Nonetheless, the company’s proactive capital management and clear focus on scaling operations suggest a deliberate strategy to maintain operational agility while pursuing expansion.
Investors will be watching closely how effectively Harvest Technology deploys this capital to convert pipeline opportunities into revenue growth, and how the remaining $3.5 million facility is utilised in the coming months.
Bottom Line?
Harvest Technology’s latest drawdown underscores its commitment to growth, but execution will be key to translating funding into tangible results.
Questions in the middle?
- What are the detailed terms and potential dilution impact of the convertible securities and options?
- How quickly can Harvest Technology convert its pipeline opportunities into revenue?
- Will the remaining $3.5 million funding facility be fully drawn down, and on what timeline?