Renewable energy tech start-up strikes a deal with Energy Queensland
Picture: Redback Technologies staff Alex McMahon and Leigh Moloney. Picture: Jono Searle
Stephanie Bennett, The Courier Mail Monday April 10, 2017
RENEWABLE energy tech start-up Redback Technologies predicts its staff numbers will double by the end of the year, after striking a deal with Energy Queensland to further advance their energy monitoring devices.
The Queensland Government-owned electricity distributor will provide a team co-ordinator and two engineers as part of the three-year deal, worth $1.42 million, while Advance Queensland has also awarded Redback Technologies and the University of Queensland a research fellowship of $540,000 in staff and resources.
Redback Technologies creates both hardware and software energy solutions, including an intelligent unit which allows consumers to manage, store and monitor home or business solar energy.
Founder and managing director Phillip Livingston said about 600 had been deployed at a rate of about 150 a month, but that number would accelerate as the business grows.
Mr Livingston said the new funding injections would provide more than just resources for the businesses.
“For us right now, getting cash from the market is not a large challenge,” he said.
“It’s really about value creation, creating real value for our customers and giving consumers greater choice when it comes to managing renewables.”
The new investments follow on from a $9.3 million deal Redback Technologies struck with EnergyAustralia last October.
Mr Livingston, who hails from New York and has called Australia home for 10 years, said Redback Technologies currently had 52 staff, up from 14 about a year ago.
He expected that number to increase to about 110 by the end of the year, with the majority of the new roles to be Queensland based.
“The aim for us is to make sure that these technologies that we are building will have export capability, that’s a mutual goal that we’ll continue to work towards,” he said.
With 14 years of experience in the renewable energy field, Mr Livingston is well poised to lead the company into a new phase of expansion.
“When I started it was a passion, and it was not a well-paying passion. It was something you did because you believed the world needed a change,” he said.
“This is a really exciting time, a really transitional time for humanity.”
He also credited the success of the company with stakeholders and supporters, including the University of Queensland and State Energy Minister Mark Bailey.
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