Redback today announced it had signed a Memorandum of Understanding (MOU) with the university’s commercialisation company UniQuest, which has taken an equity position with Redback in return for exclusive licences to UQ technologies developed under a research partnership agreement.
The partnership agreement will see joint projects expanded and the rapid commercialisation of UQ’s energy storage research insights from various disciplines across the university, including engineering, science, computer science and economics.
Redback’s founder and Managing Director, Philip Livingston said the UQ/ Redback partnership further cements UQ’s position as a leader in innovative renewable energy research.
Livingston, said the company’s decision to locate itself in Queensland had proved highly successful.
“Establishing ourselves at ilab has really helped us maintain an innovative start-up culture while accessing the research excellence with UQ. ilab is a fantastic initiative the Queensland State Government and UQ and has been proven successful in fostering and attracting start-up innovation to Queensland.”
UniQuest CEO Dr Dean Moss said the partnership highlighted UQ’s flexibility and readiness to engage with industry. “This is a real partnership demonstrating UQ’s commitment to support the entrepreneurial SME's that are shaping the world's future."
“With the support of UniQuest/ilab, Redback established itself in Queensland and began its impressive path to growth. By drawing on UQ’s research excellence and expertise, we’ll continue to collaborate with the view to converting research discoveries into exciting, innovative new products that create change.”