The Southern Cross Renewable Energy Fund (SCREF) has made its debut investment, funding a novel Australian solar technology that has the potential to significantly increase the efficiency of solar panels.

 

Federal Minister for Resources and Energy announced that SCREF has made an initial investment of $1.5 million, as part of a total $2.5 million commitment to Queensland company Brisbane Materials.

 

The investment will be used by the company to commercialise its high-performance anti-reflective coatings, which will be applied to make solar panels more efficient and cost effective.

 

“Southern Cross Venture Partners has helped secure matched international investment in an Australian innovation that draws on world leading technology developed at the University of Queensland,” Minister Ferguson said.

 

“These funds will provide the Australian company with the best chance of capturing a significant share of the global market by delivering important improvements on solar technology.”

 

The Southern Cross Renewable Energy Fund is a co-investment arrangement, with the Australian Government’s commitment of $100 million through the Australian Renewable Energy Agency’s Renewable Energy Venture Capital Fund Program matched dollar for dollar by SBCVC, which has experience in venture capital across the Asian region. Southern Cross Venture Partners is the Fund manager.

 

More information on the Renewable Energy Venture Capital Fund program, including the Southern Cross Renewable Energy Fund, can found at: www.arena.gov.au