UniQuest start-up secures first Southern Cross Renewable Energy investment

A novel Australian solar technology with the potential to significantly increase the efficiency of solar panels will be the first investment by the Southern Cross Renewable Energy Fund (SCREF) under the Australian Government’s Renewable Energy Venture Capital Fund (REVCF).

The SCREF is a $200 million partnership between the Australian Government’s Australian Renewable Energy Agency through its REVCF program, and Soft Bank China Venture Capital (SBCVC). The REVCF was set up specifically to assist early stage Australian companies in the renewable energy sector.

The Minister for Resources and Energy, Martin Ferguson AM MP, recently announced that the fund has made an initial investment of $1.5 million, as part of a total $2.5 million commitment, to Brisbane Materials, a UniQuest cleantech start-up based on University of Queensland (UQ) research.

“To be the very first recipient of an internationally-supported cleantech syndication is not only a very significant achievement for Brisbane Materials, but also a resounding vote of confidence in university-based Australian renewable energy research,” said UniQuest Managing Director David Henderson.

The investment will be used by Brisbane Materials to commercialise its high-performance antireflective coatings, which will be applied to solar panels to make them more efficient and cost-effective. The company is also receiving a matching $2.5 million investment from USA-based New Ventures Partners LLC (NVP).

“Southern Cross Venture Partners has helped secure matched international investment in an Australian innovation that draws on world-leading technology developed at the University of Queensland,” Minister Ferguson said.

“These funds will provide the Australian company with the best chance of capturing a significant share of the global market by delivering important improvements on solar technology.

“Importantly, Southern Cross Venture Partners and NVP will provide Brisbane Materials with active investment management support to help it overcome the challenges of commercialisation.

“Through this initiative we are encouraging the development of Australian companies that are commercialising renewable energy technologies, ultimately to improve their competitiveness and to increase the numbers of renewable energy companies that are successful in Australian and overseas markets.”

Brisbane Materials patented materials and processes enable the creation of a nanoporous silicon dioxide (SiO₂) film from a liquid precursor at room temperature and atmospheric pressure. When applied to solar photovoltaic panels, these films form an antireflective coating which provides a significant efficiency improvement, improving the cost-effectiveness of solar panels of all types.

In July this year, Brisbane Materials formed a strategic partnership with EV Group (EVG), a supplier of turnkey manufacturing systems for the solar, display, electronics and other markets. Under a comprehensive cooperation agreement, EVG has optimised its large-area coating systems for the company’s materials and processes, enabling the two companies to provide to customers a turnkey solution for high-yield fabrication of antireflective coatings with good performance and cost.

More information on the Renewable Energy Venture Capital Fund program, including the Southern Cross Renewable Energy Fund, can found at http://www.arena.gov.au/programs/initiatives/revc.html.