Uni Takes Equity In Solar Team
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SYDNEY – Redback Technologies, a start-up specialising in electricity storage systems for solar power installations, has teamed up with UniQuest, the University of Queensland’s commercialisation arm, to research and develop solar power technologies.The two have signed an MoU under which UniQuest will take a minority stake in Redback in return for giving Redback exclusive licences to UQ technologies developed under a research partnership agreement.

Redback’s main product is a unit combining battery, control technology and inverter that is designed to store solar-generated electricity in the home and to minimise reliance on grid power by balancing consumption and storage of solar and grid power.

Redback founder and MD, Philip Livingston, told CDN: “Underlying the sophistication of these types of systems is the development of algorithms, and that requires significant bandwidth in terms of computer science, machine learning and artificial intelligence. That is the guidance we are trying to get from UQ, to kick-start our ability to think more laterally.” – Stuart Corner