Australia, Queensland
A hydrogen
storage idea has won the $100,000 University of Queensland Business
School Enterprize competition. Start-up company Hydrexia Pty Ltd has
beaten seven Enterprize competition finalists to score $100,000 seed
funding to progress their technology.
The company’s technology uses a solid-state storage method based on a
magnesium alloy manufactured using low cost casting techniques.
Hydrexia CEO Jeffrey Ng said the technology was five times cheaper than
its closest competitor.
"Progress towards the wider adoption of fuel cells that use hydrogen
has been hampered by the lack of a hydrogen storage technology that
meets three key requirements: storing a high density of hydrogen,
safely and at low cost,” he said.
"Hydrexia’s proprietary technology solves the hydrogen storage problem
by delivering on all three of these requirements. That is why this
technology removes one of the last remaining technical barriers to the
broader use of fuel cells and hydrogen."
Winner of the i.lab technology incubator prize, LEO Tuning also offered
Greenhouse benefits – this time by optimising vehicle tuning at all
times using a new ‘active-mapping’ technique.
Larry Weng said the LEO Tuning system – which is named in honour of the
inventor’s late father – used real-time data from the engine to adjust
the fuel mixture each revolution to meet the current operating
conditions.
"We are looking forward to working with i.lab over the next 12 months to further develop the technology," he said.
"We’ll have the benefit of i.lab’s extensive network of investors and
mentors as well as training opportunities and the use of office and
meeting facilities."
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