Micro-X (ASX: MX1)

Micro-X (ASX: MX1), an innovative company headquartered in Adelaide, South Australia, has been redefining the landscape of medical imaging through the application of nanotechnology. The company has emerged as a leader in the APAC nanotechnology sector with its revolutionary Nano Electronic X-ray (NEX) technology. By utilizing carbon nanotubes (CNTs), Micro-X has developed groundbreaking solutions that significantly enhance the efficiency, portability, and accessibility of X-ray imaging systems.

For over a decade, Micro-X has focused on advancing its core technology, leveraging the unique properties of CNTs to replace traditional heated filament X-ray tubes. This transformation enables the miniaturization of X-ray systems, resulting in lighter and more efficient devices. Such advancements are particularly valuable in remote and underserved regions where conventional imaging equipment is impractical.

CEO Kingsley Hall has emphasized the profound impact of their technology, stating, “By harnessing the power of nanotechnology, we are able to create imaging solutions that are not only more effective but also more accessible. Our goal is to break down the barriers to medical diagnostics and ensure high-quality imaging is available wherever it is needed.”

A significant milestone for Micro-X was the decision in 2019 to bring the design and manufacture of its CNT X-ray tubes in-house. This strategic move allowed the company to reduce reliance on third-party suppliers, improve production efficiency, and enhance product reliability.

Collaborating with leading researchers from Flinders University and the University of Adelaide, Micro-X developed proprietary intellectual property around its CNT emitters, culminating in a newly filed patent. This effort reinforced the company’s position at the forefront of nanotechnology-driven imaging solutions.

Micro-X’s commitment to innovation has also attracted highprofile collaborations. In February 2025, the company secured a US$16.4 million development contract with the Advanced Research Projects Agency for Health (ARPA-H) to develop a world-first full-body mobile CT scanner under the PARADIGM project. This breakthrough device is designed to provide advanced imaging capabilities in regions lacking traditional infrastructure, fundamentally transforming rural healthcare.

Beyond medical imaging, Micro-X has demonstrated the versatility of its nanotechnology through strategic partnerships.

In 2022, the company signed a $7.5 million agreement with Varex Imaging Corporation, granting them an exclusive license to produce multi-beam X-ray tubes. This collaboration highlights the broader applications of Micro- X’s NEX Technology, which extends into security and defense industries.

Micro-X’s expansion is not solely defined by its technological achievements; the company is also actively investing in talent and workforce development. Recognizing the increasing demand for expertise in nanotechnology, Micro-X has established programs to recruit and nurture specialists in engineering chemistry and nanomaterials science. “Building a skilled workforce is just as critical as developing cutting-edge technology. We are committed to fostering talent that will drive the next generation of breakthroughs in medical imaging and beyond,” Hall explained.
The company’s impact is already evident in real-world applications. Micro-X’s mobile X-ray units, such as the DRX Revolution Nano, have been deployed in hospitals, professional sports teams, and military operations, including on the battlefield in Ukraine. These lightweight, highly efficient devices offer a level of portability that was previously unimaginable in X-ray imaging, demonstrating the tangible benefits of integrating CNT technology into medical equipment.

Micro-X’s strategic direction and continuous innovation have solidified its status as a leader in the APAC nanotechnology space. The company’s relentless focus on solving pressing healthcare challenges through nanotechnology aligns with global efforts to improve medical diagnostics and patient care. Under Hall’s leadership, Micro-X is poised to continue pushing the boundaries of what is possible, ultimately striving to make high-quality medical imaging universally accessible.