An Adelaide-based business is looking to take its innovation to the world after winning the Australian Clean Technologies Ideas Competition last night.
SMAC Technologies, which has created an energy efficient air conditioning system, was named the winner of the government-backed competition at a ceremony in Sydney last night.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
The business emerged from an 11-strong field that included AquaGen, a wave energy company that won the best product category at this year’s StartupSmart Awards.
All of the finalists were mentored by the Federal Department of Innovation prior to the awards.
By winning the competition, SMAC Technologies will represent Australia at the international Cleantech Open Global Ideas Competition in the US.
It will compete against entrants from 90 countries for more than $100,000 in service-based prizes, as well as the opportunity to expand its client base across the world.
SMAC Technologies already has over 40 systems installed in offices, hospitals, art galleries and industrial facilities in locations as diverse as Thailand, Darwin, Singapore and Brisbane.
The business, which launched in 2005, is based on technology developed by the late Dr Alan Shaw. It works by de-coupling the temperature and humidity control in buildings, allowing for a cut in air conditioning energy use of up to 85%.
Revenue is expected to hit $600,000 this year, with the business hopeful that this total will dramatically climb once it is shown to international clients.
“My personal goal is to take Dr Alan Shaw’s technology to the world,” says Wayne Ryan, founder of SMAC Technologies.
“We are talking to US companies and we already have General Electric as a client in Australia. We feel this technology belongs on the world stage. I imagine revenue will be in the many millions.”
Innovation minister senator Kim Carr says: “This type of technology not only builds strong new Australian-based manufacturing industries, but also helps existing industries to be more globally competitive and resilient to price rises.
“This air conditioning technology ticks all the boxes in helping tackle climate change and cutting our carbon footprint.”