“I was pleased to witness Canberra start-up Mineral Carbonation International (MCi) sign a $100 million Memorandum of Understanding (MOU) with Singapore company ArmorShield Holdings, which has extensive networks and experience doing business in China.”

“The MOU is a platform for MCi to grow their business in China, with ArmorShield Holdings able to provide advice and guidance on engaging with the Chinese market,”

Mr Barr said Mineral Carbonation International was partnering with industry leaders around the world to reduce carbon emissions and the deal would give access to ArmorShield’s extensive networks in China and across Asia.