11. May 2013
Commercializing Hydrogen Production
A Queensland company that has developed a new approach to hydrogen production has received an $86,900 Experienced Executive grant from Commercialisation Australia. AquaHydrex Pty Ltd will use the grant to hire an experienced chief executive and focus on production, developing international markets and raising capital.
Late last year AquaHydrex a received venture capital investment from True North Venture Partners to develop its technology.
True North Venture Partners leads a $300 million venture capital fund that identifies disruptive innovations and works with management to build companies in the areas of energy, water, waste, and agriculture.
"AquaHydrex is an example of the interesting and globally relevant innovation in Australia," said," said True North Venture Partners partner Steve Kloos at the time.
AquaHydrex is a spin out of Innovation Campus and the ARC Centre of Excellence for Electromaterials Science (ACES) at the University of Wollongong, which say the technology is the culmination of years of research within the University and Monash University.
University technology transfer company UniQuest partnered with both universities to develop the business plan and raise capital for AquaHydrex.
ACES Energy Program Leader Professor Doug MacFarlane says the electrochemical systems can split water with and without the use of sunlight. Novel catalytic processes enhance the efficient electrolysis of water to produce hydrogen. A second set of technologies inspired by photosynthesis assist with the production of oxygen gas from water under sunlight, he said.
The company and its partners have a fundamental research program to ensure the company stays at the cutting edge and is commercially successful in producing cheap and sustainable energy.