CLEANSPACE HOLDINGS LTD (CSX) - A Smarter PAPR For Real Work

Silica dust does not care about good intentions, and neither do regulators. We sit down with Gabrielle O’Carroll, CEO of Sydney-based CleanSpace Holdings Ltd, to unpack how respiratory protection is evolving as workplaces face tighter exposure limits, stronger enforcement, and rising expectations across mining, construction, quarrying and manufacturing.

We start with the core problem: workers are exposed to hazardous airborne particles every day, yet traditional protection can be uncomfortable, awkward, and inconsistent in real-world use. Gabrielle explains why CleanSpace designs powered air purifying respirators (PAPR) that people actually want to wear, and how better comfort and fit can lift compliance and improve health outcomes over time. We also talk about the regulatory tailwinds in Australia, Europe and North America, including the impact of respirable crystalline silica limits and the public attention sparked by Australia’s engineered stone ban.

Then we get specific on CleanSpace Agile, described as the world’s first loose fitting PAPR with patented AirSensit® technology that senses breathing demand and adjusts airflow in real time. We explore why the form factor matters, how ditching hoods, belts and hoses can change day-to-day usability, and why loose fitting protection helps employers manage fit testing burdens and clean-shaven policies. Finally, we dig into EN 12941 certification for Europe, the fast follow ANZ certification, the distribution ramp, the R&D roadmap, and what milestones may signal commercial traction into FY27.

If you care about workplace safety tech, industrial PPE, or ASX-listed growth stories, listen now, then subscribe, share the episode with a mate, and leave a review so more people can find ASX Briefs.

Transcript

Andrew Musgrave

Welcome back to ASX Briefs, the podcast engaging with ASX listed companies. And today we're joined by Gabrielle O'Carroll, the CEO of CleanSpace Technology, a Sydney-based innovator in respiratory protection that is rapidly scaling its global footprint in the industrial and healthcare sectors. Gabrielle, great to have you with me today and welcome to the ASX Briefs podcast.

Gabrielle O'Carroll

Thank you. It's great to be here.

Andrew Musgrave

Now, Gabrielle, for listeners new to CleanSpace, can you give us a quick overview of the company, what it does, and the core market problem you're solving for industrial workers?

Gabrielle O'Carroll

Of course. CleanSpace designs and manufactures powered air purifying respirators or PAPRs. We are a Sydney based company with a global footprint across Asia Pacific, Europe, and North America. And we sell into industrial sectors like mining, construction, quarrying, and manufacturing. The problem we're solving is a fundamental one. Millions of workers around the world are exposed to hazardous airborne particles every day, things like silica dust, chemical fumes, metal particulates. And the protection available to them has historically been uncomfortable, poorly fitting, and therefore often not worn consistently. CleanSpace engineers respiratory protection that workers actually want to wear. Products that combine high levels of certified protection with comfort, intelligence, and modern design. So, when people wear their protection consistently, we know that health outcomes improve.

Andrew Musgrave

And the regulatory tailwind is clearly a central part of your growth thesis. So how are tightening workplace health and safety standards globally translating into demand for CleanSpaces products?

Gabrielle O'Carroll

It's a genuinely powerful tailwind. We're seeing regulators across our key markets, namely Australia, Europe, and North America, tightening permissible exposure limits for hazardous dusts, particularly respirable crystalline silica. In Australia, the engineered stone ban was a landmark moment that brought the issue into public consciousness. But the direction is consistent across all of our markets. Standards are rising and enforcement is increasing. What that means for CleanSpace is that more employers are looking for certified, higher performance solutions, and we sit squarely in that space. The challenge for us is ensuring our products are certified to the relevant standards in each market, which is exactly why the AGILE certifications we've recently achieved are so strategically significant.

Andrew Musgrave

Now, looking at CleanSpace AGILE, what makes it a world first and what specific need in the market drove two years of R&D to create it?

Gabrielle O'Carroll: 02:35

CleanSpace AGILE is the world's first loose-fitting powered air purifying respirator featuring our patented AirSensit® technology. What AirSensit® does is intelligently sense the wearer's breathing demand in real time and adjust airflow accordingly. So, you get optimal protection and comfort continuously rather than a fixed blower running at a single speed. What further sets AGILE apart from every other loose fitting PAPR on the market is its form factor. Competitor products achieve loose fitting protection through hoods or head tops, often with belts and hoses. So, they're bulky and cumbersome. AGILE takes a completely different approach. It's a half-face piece paired with clean spaces lightweight design and are patented air sensitive demand sensing technology. There are no hoods, belts, hoses. It's the protection level employers need in a form that workers will actually want to wear.

Andrew Musgrave

And the loose-fitting design is a direct response to facial hair problem. So how significant is that unaddressed workforce segment? And how does AGILE change the compliance conversation for employers in construction, mining, and quarrying?

Gabrielle O'Carroll

CleanSpace AGILE is a natural choice now in any industry where workers are subject to high dust exposure, such as construction and mining. With this product, users can benefit from the lightest, most ergonomic PAPR design without having to fit test and without having to maintain a clean-shaven policy. With this addition to our range, we've made it much easier for organizations to choose within the CleanSpace portfolio the solution that is right for their conditions for their workers. And that will certainly unlock more opportunity for us in this large and growing market.

Andrew Musgrave

Turning now to Europe, what does achieving EN 12941 certification mean in practical terms for CleanSpace's ability to sell AGILE into the European market? And how quickly can distribution scale from here?

Gabrielle O'Carroll: 04:25

Well, it means that we can sell. EN12941 is the certification required to bring a loose-fitting PAPR to market across Europe. And without it, Agile simply couldn't be sold there, regardless of how good the product is. So, achieving that certification is the gate that opens the market. In terms of scaling, well, we were ready. Our commercial team had been preparing for this launch in parallel with the certification process. So, distribution materials, training programs, and communications were all in place the moment the certificate landed. Europe is our most developed market, and we've established distribution relationships there over many years that we can now immediately activate.

Andrew Musgrave

And Europe is your largest market by revenue. So does AGILE represent a genuinely new customer segment in Europe, or is it expected to convert existing customers who've been waiting for a loose-fitting solution?

Gabrielle O'Carroll

AGILE opens up a market that's been largely out of reach for CleanSpace until now. Across mining, construction, quarrying, and other industries, there's been a clear trend away from tight-fitting respirators, driven by the challenges of fit testing, clean-shaven policies, and the practical realities of managing a diverse workforce. Those customers haven't been going without protection, but they've been buying bulky traditional PAPR units because that was the only loose-fitting option available to them. AGILE changes that equation entirely. We can now compete head-to-head in the loose-fitting PAPR market and differentiate on exactly what CleanSpace is known for: innovative design and genuine user comfort. And for customers already in the CleanSpace family, AGILE makes it easier to standardize across their entire workforce with one range, regardless of whether their workers need tight- or loose-fitting protection.

Andrew Musgrave

And the ANZ certification followed the European announcement by less than two weeks. Was that timing planned? And what does dual certification mean for how you approach commercialization across these markets simultaneously?

Gabrielle O'Carroll

Well, the timing was certainly something we worked hard to align in the later stages of development. But running two certification programs in parallel isn't simple and it required some real discipline from our engineering and commercial teams. We were pushing hard on both fronts simultaneously, and we're delighted with how it played out. In terms of what dual certification means commercially, it is a powerful statement that adds credibility to the product and to our technical capabilities. It also tells the market that CleanSpace AGILE is not a product built for one geography and that it can be adopted in any market that recognizes the European or Australian standards.

Andrew Musgrave

Now, as we know, Australia has a strong mining and construction sector where AGILE is clearly targeted. So how established is CleanSpace's distribution footprint in Australia currently, and what does the commercialization ramp look like from here?

Gabrielle O'Carroll

Well, Australia is our home market, and our brand is known here, and we have existing distribution relationships. The commercialization ramp in Australia-New Zealand will be driven through our authorized distribution partner network. We're a manufacturer and a brand owner, and we go to market through partners who have deep relationships within users in the sectors we're targeting. The sectors we're most immediately focused on in ANZ are mining, construction, and quarrying, all of which have significant workforce exposure to hazardous dusts, and all of which are subject to increasingly stringent regulatory standards. So, the pipeline of opportunities in these sectors is real and we're actively working on it.

Andrew Musgrave

And AGILE is described as the culmination of two years of focused R&D. So, what's next in the pipeline? Are there further products or technology developments you're in a position to speak to?

Gabrielle O'Carroll

Our R&D pipeline is something we're genuinely excited about, and it is a core strategic priority for the company. I'm not in a position today to go into specifics on future product announcements, but what I can say is that the AirSensit® platform has significant further applications, and we believe our R&D capabilities are a key competitive advantage that we intend to continue investing in. What AGILE demonstrates is that CleanSpace can take a genuinely novel engineering challenge and solve it at a world-class level. That capability doesn't stop with AGILE. We have a multi-product R&D roadmap that will continue to strengthen our portfolio's position in the global respiratory safety market. And we look forward to sharing more as those programs mature.

Andrew Musgrave

Turning now to the FY26 trading update, which flagged softer revenue growth than expected. How much of that was the certification timing? And now that AGILE has achieved both European and ANZ certification, does that change the trajectory for the second half?

Gabrielle O'Carroll

Certification timing was certainly a factor. When you're selling certified safety equipment, delays in achieving certification translate directly into delays in commercial activity. And we experienced that in FY26. What I can say is that the market opportunity hasn't gone anywhere. The demand drivers are unchanged. The AGILE certification gives us a new and highly differentiated product to bring to market now. And we're focused on executing that launch as effectively and quickly as possible. The foundations laid in this last year will drive the FY27 revenue trajectory.

Andrew Musgrave

Now finally, Gabrielle, looking at the second half of FY26 and into FY27, what are two or three milestones that investors should be watching most closely as evidence that the AGILE launch is gaining real commercial traction?

Gabrielle O'Carroll

Traction for AGILE with customers will ultimately be evident by improved revenue growth in the ANZ market and the UK market. While we don't quantify or report on our sales pipeline for investors, we'd expect this to show more improvement in the markets. Agile has been certified in towards the end of this calendar year.

Andrew Musgrave

Okay, Gabrielle. Well, it's been great to chat today to get an update on where the company is at. So, thanks for your time and we look forward to further updates from CleanSpace in the upcoming months.

Gabrielle O'Carroll

Thank you. It's been a pleasure.

Andrew Musgrave

That concludes this episode of ASX Briefs. Don't forget to subscribe, and we look forward to catching you on our next episode.