Brisbane startup Redback Technologies signs MOU with the University of Queensland to commercialise its tech
Brisbane startup Redback Technologies has signed a Memorandum of Understanding (MOU) with The University of Queensland aimed at accelerating the global commercialisation of Redback’s low cost solar solutions for residential and commercial users.
The University of Queensland has taken an equity position with Redback, receiving equity in exchange for exclusive licenses of all technologies developed within Redback’s research program. The MOU is with UniQuest (UQ), the main commercialisation arm of The University of Queensland, which specialises in the commercialisation of intellectual property, research outcomes, and expertise.
Philip Livingston, founder and managing director of Redback Technologies, said, “The partnership with UQ will enable Redback to provide customised downstream software benefits to prospective clients including energy retailers, network service providers, telcos and solar installation companies, as a means of enabling the next generation grid to take form.”
UQ has 30 years experience in research with a focus on developing cutting edge renewable energy research including the commercialisation of the HPV vaccine Gardasil, the Triple P Positive Parenting Program, and image correction technology which is used in two-thirds of the world’s MRI machines.
“UQ has a rich history of cutting edge renewable energy research, particularly in the systems integration space,” said Professor Paul Meredith, Director UQ Solar, Global Change Institute.
Through the partnership with Redback Technologies UQ will combine their multi-disciplinary approach to research with Redback’s storage innovations and entrepreneurship.
“We see this as a path to accelerating the impact of our research upon the world, and for driving innovation in our state,” said Meredith.
Redback Technologies was established in 2015 with a vision to create a world powered by renewable energy. Its integrated hardware and software technologies capture, store and manage solar energy with a focus on quality and efficiency. The partnership agreement with UQ will see joint projects expanded and the rapid commercialisation of UQ’s energy storage research insights from disciplines including: engineering, science, computer science and economics.
Under the agreement Redback will have access to UQ’s solar energy assets for testing and demonstration purposes.
“With the support of UniQuest/ilab, Redback established itself in Queensland and began its impressive path to growth. By drawing on UQ’s research excellence and expertise, we’ll continue to collaborate with the view to converting research discoveries into exciting, innovative new products that create change,” said UniQuest CEO Dr Dean Moss.
Livingston highlighted the role ilab has played in its growth, saying establishing Redback at ilab helped the company maintain an innovative startup culture while accessing the research excellence within UQ.
“ilab is a fantastic initiative and the Queensland State Government and UQ have been proven successful in fostering and attracting start-up innovation to Queensland.”
Image: Philip Livingston. Source: Supplied