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ABC News Just In· This weekTechnology

Embattled AI company Firmus still wants funds for Tasmanian data centre

Firmus Technologies says one of its three planned AI data centres in Tasmania's north is not yet funded. The company abandoned its plan to list on the Australian stock exchange earlier this month but is continuing with its Tasmanian projects. Firmus general energy manager Paul Grzinic told a parliamentary committee that the Launceston and Wesley Vale stage one sites are fully funded. He said the other sites still need development approval, which he described as a key step towards securing funding.

Embattled AI company Firmus still wants funds for Tasmanian data centre
PerthNow Local· This weekBusiness

Regulator making 'routine inquiries' after Firmus flop

Australia's corporate regulator is making routine inquiries into AI developer Firmus after it abandoned a planned $44 billion stock market listing in October. The regulator's enforcement director said no formal investigation is under way. Firmus plans data centres across Australia, including three in Tasmania. A Launceston centre is under construction and a George Town centre has been approved, with a Wesley Vale application still in progress. The company is appealing conditions limiting diesel generators at George Town. Hydro Tasmania is expected to decide on a 450MW power request by the end of the year.

Regulator making 'routine inquiries' after Firmus flop
ABC News TAS Top Stories· A while agoTechnology

Tasmanians expressed doubts about AI firm Firmus, now so have investors

AI company Firmus Technologies has cancelled its planned share market float on the Australian Securities Exchange due to weak demand. The company had aimed to raise $7 billion. Its three proposed Tasmanian AI data centres have faced community opposition, council appeals and delays, including a Launceston project now pushed back to early 2027. Firmus says its plans have not changed and that it has the money to proceed.

Tasmanians expressed doubts about AI firm Firmus, now so have investors

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