Innovation in Energy 

The Hunter Central Coast Innovation Festival stepped up to a new level of raising awareness today of the great smarts that exist within the Hunter and University of Newcastle.  

The good and the great amongst the academic community show-cased their most recent projects and collaborations with industry.  Of huge significance was the work Dr Michael Stockenhuber and Prof Paul Dastoor presented.

Starting with Dr Stockenhuber, senior lecturer in Chemical Engineering at University of Newcastle, his research collaboration with Airbus to convert their Airplane’s auxiliary energy system to fuel cell based power generators was staggering.  Dr Stockenhuber response to an audience question, “What makes a Happy Client?”, was, “They give me money again [for more research]“.  And I think this about sums it up.  The research funding that industry can provide as well as the commercial application of new technologies is paramount to the energy researchers.

Is there any field of research that Professor Paul Dastoor is not a genius and leading guru in?  

His first commercial venture, Keystone Medical, is a pump infusion device for the hospital home-care market.  But this wasn’t what he was talking about today.  His and his team’s latest research endeavors are in the area of organic solar technologies.  Paul has a vision to paint the world with a thin film that converts solar into electricity.  

Professor Dastoor would prefer we removed our traditional thinking hats from that of ‘energy efficiency’, citing that the recent discoveries of 5% efficiency is not the point.  The point is that if we could coat vast areas of the globe with a thin film - and all the other components to actually trap and use the energy source - that we wouldn’t need to worry about 5% efficiencies.

Without question there is significant research being undertaken.  The challenge, as always, becomes a question of what is the path to market for commercialisation?  In the case of Airbus, they paid for the research and own the predominant rights to the IP developed.  However, the know-how built up by Dr Michael Stockenhuber and his team will persist and who knows what revenues the University will generate for further work in this vital area - what I simply call, “The airplane weight-loss segment of the market”.  Why do I say “weight-loss”?  Very simple.  If the fuel-cell power generation can work then this will replace hydraulics and failsafe systems which weigh a lot.  If you can cut down the weight of the airplane then the main power source becomes cheaper - longer distances can be covered, more passengers can go aboard, etc, etc.  

In the case of Organic Solar, this is a very well-signalled technology.  Take for example the Hybrid vehicles we see on today’s roads. The true winners amongst those investing huge dollars in that segment were the major car manufacturers such as Toyota and definitely the losers were the early-in venture capitalists.  Large companies have significantly deeper pockets than early stage venture capitalists who may be tempted to get on the band wagon early, and I think this is another one of the Hybrid car segments that VCs would do well to avoid for their shareholders.  When a disruptive technology, as is the case with surface coatings that can convert solar to electricity, you can bet that the large incumbents (perhaps in non obvious areas in this case) are being well advised, by hordes of very clever futurists, to be taking an offensive strategy on this technology.  

Going further on the point of well-signalled technologies and venture capitalists preferring to play in markets that will grow rapidly and will not be necessarily huge, one alternative funding route for these types of technologies is a JV arrangement with the emerging technology divisions of, say, a major paint manufacturer or a major ink-jet production company.  Fortunately, the people in these divisions are easy to identify and are open to this type of model.

I look forward to seeing the progress of the Energy research from University of Newcastle and wish them every success in all their ventures.  Without their commitment we would still think the world was flat.