PWR trumps rivals for mystery US contract

Gold Coast-headquartered cooling technology company PWR Holdings has trumped its opposition by winning a $13.5 million extension for a mystery project with the US Government.

The Stapylton-based company, which has arms in Europe and the USA, has announced that it has “secured a US$9.1 million (A$13.5 million) follow-on contract to supply advanced cooling solutions for a US government project”.

PWR announced the first contract almost exactly a year before it detailed the contract extension.

The company has not explained exactly what the deal involves, but it falls under the company’s Aerospace and Defence division.

This week, PWR said the contract extension followed the “ongoing successful delivery of the previous order” and “reinforces PWR’s position on this project as it progresses to full rate production”.

“PWR announced the initial US$5.5 million order for this project in January 2025 and securing a follow-on order reflects the successful delivery of that first phase and demonstrates our ability to execute reliably and adapt to evolving program requirements on complex projects,” Acting Chief Executive Officer Matthew Bryson said.

“Continued delivery on this platform supports PWR’s growing reputation as a leader in advanced cooling technology for Aerospace and Defence applications.”

PWR, which was founded by Kees Weel and his son Paul Weel in 1998 and now employs more than 120 people, started life manufacturing performance radiators for racing cars.

PWR products are now commonly used in V8 Supercars, Indy Cars, Nascar and in 2024, PWR was supplying cooling solutions to every Formula One team in the world.

In 2020 the company made the decision to expand into the Aerospace and Defence sector.

In its annual report, PWR said its new “MMX” micromatrix heat exchangers could have multiple applications.

“An MMX core is constructed from an array of hollow microtubes, similar to hypodermic needles,’’ the company said.

“These microtubes are as small as 300 microns in diameter and provide exceptional surface area in a compact package to maximise heat transfer.

“Due to their ability to reduce mass, volume, and thermal signature, our MMX cores can substantially increase surface area and payload, thereby increasing flight time for aircraft.”

In 2023, PWR secured a $985,000 Federal Government grant to develop the MMX technology for applications in space.

This grant was part of the Commonwealth’s $150 million Moon to Mars program, which was designed to secure Australia’s role in supporting the USA-led Moon to Mars program.

“Although our MMX technology is an excellent cooling solution for space, our standard aluminium cores cannot withstand the dramatic temperature fluctuations,’’ the company said.

“To address this, PWR began exploring the use of stainless steel rather than aluminium with very promising results.

“The Moon to Mars grant directly supported the procurement of a high-temperature molybdenum vacuum braze furnace dedicated for research and development purposes, including MMX.

“This new furnace allows for the manufacture of both pure element and exotic alloy heat exchangers, while the additional capacity frees our aluminium furnaces for production.”