Perth-based industrial technology company Capability X has lodged a prospectus with the Australian Securities and Investments Commission (ASIC) and launched a A$12 million initial public offering (IPO) to scale global deployment of CX Edge, its edge artificial intelligence (AI) control systems for remote and hazardous industrial environments.
The company, incorporated in Western Australia in November 2022, says it is developing a real-time intelligence and control platform aimed at improving operational safety and efficiency in industrial settings.
Capability X’s CX Edge combines rugged hardware, proprietary software and edge AI. Founder and managing director Chris Eastwell said the IPO proceeds would support the next phase of growth.
“Our products and technology are deployed, revenue-generating, and currently operating across marine and offshore energy, as well as ports and logistics markets,” Mr Eastwell said.
“The IPO proceeds will give us the financial flexibility to pursue near-term opportunities in oil and gas, mining, defence and Government, expand further into domestic and international markets, strengthen our engineering capability and continue our research and development.”
According to the prospectus, Capability X has lodged two provisional patent filings covering elements of its technology, including software and AI, remote robotic command and control, communications network design and edge hardware device design.
Westar Capital has been appointed lead manager to the IPO, which is raising A$12 million through the issue of 60 million shares at 20 cents each, implying an indicative market capitalisation of approximately A$34.5 million.
The offer opened on 5 October 2026 and is expected to close on 19 October 2026. Subject to offer and ASX listing conditions, Capability X plans to commence trading on 12 November 2026 under the ticker CX8.
In the prospectus, independent analysis by Frost & Sullivan estimates the company’s total addressable market exceeds A$280 billion per year, while noting the figure is indicative and may be constrained by factors including geography, procurement restrictions, competition and regulatory requirements.
The prospectus is available online at capabilityX.com.
