UniQuest has congratulated Redback Technologies following the company’s announcement that it had secured A$9.3 million in Series A funding from Australian energy company EnergyAustralia.

Established in 2015, Redback Technologies is developing advanced, low cost solar energy solutions for residential and commercial users.

The company is based at The University of Queensland’s ilab business accelerator, which is operated by UniQuest.

UniQuest chief executive Dr Dean Moss said he was delighted to see the potential of Redback’s innovative technologies recognised by the energy sector.

“Over the past twelve months, UniQuest and UQ have built a mutually-beneficial relationship with Redback. 

“They chose UQ's ilab to establish and incubate their new company, and their intelligent solar inverter technology is a great fit with UQ’s research interests, capabilities and capacity in solar photovoltaic, energy distribution and software analytics capabilities.

“This resounding endorsement of Redback’s abilities and potential is a clear demonstration of the benefits of university/industry partnerships,” Dr Moss said.

Redback’s founder and Managing Director Philip Livingston said the investment would allow the company to expand its R&D efforts and build its workforce at the ilab site in Long Pocket, Brisbane.

“Our partnership with UniQuest has allowed us to draw on UQ’s research excellence and expertise to further develop our energy storage innovations.

“We are excited at the prospect of strengthening our relationship with UQ as this investment fuels our expansion, resulting in further engagement with UQ researchers and the potential employment of UQ graduates,” Mr Livingston said.

 

UniQuest media: Nicole Cowan – n.cowan@uniquest.com.au; +61 409 767 199