Antinuclear

University of Queensland takes a step forward in renewable energy research

UQ start-up secures first Southern Cross Renewable Energy investment, University of Queensland, 25 Sept 12, Brisbane Materials, a UniQuest cleantech start-up based on University of Queensland (UQ) research, has closed its AUD$5 million Series A funding round with AUD$2.5 million from the first-ever investment of Australia’s new Southern Cross Renewable Energy Fund (SCREF).

The round was led by Southern Cross Venture Partners (SXVP) and
included co-investor New Venture Partners LLC (NVP). The SCREF,
managed by SXVP, is a AUD$200 million partnership between the
Australian Government’s Australian Renewable Energy Agency, through
its Renewable Energy Venture Capital Fund (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 Series A funding will help Brisbane Materials scale up its R&D and
manufacturing operations in Brisbane, while expanding sales and
marketing efforts around the world.

“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. …
http://www.uq.edu.au/news/?article=25307

September 25, 2012 - Posted by Christina Macpherson | General News