Australia’s Redback Tech partners with UQ to foster storage innovations

Australian energy storage system developer Redback Technologies has announced a partnership with the University of Queensland aiming to accelerate the commercialisation of the company’s distributed energy storage – while also enabling the university to be at the ‘cutting edge’ of research into  this burgeoning field.

Redback announced in a press release that it has signed a Memorandum of Understanding (MOU) with UQ’s UniQuest – the university’s commercialisation company.

Under the MOU, UniQuest will take an equity stake with Redback.

In return, Redback will be granted exclusive licenses to UQ technologies developed under any research partnership agreement.

According to the press release:

Redback Technologies, established in 2015, and UQ have been at the forefront of research which has led to the development of efficient, cost effective energy storage – the so-called holy grail of the new energy frontier – which give businesses and households the opportunity to capture, store and manage solar energy, providing an accelerated return on investment.

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,. The UQ/ Redback partnership further cements UQ’s position as a leader in innovative renewable energy research.

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