A business that has designed a project at Springfield to optimise ultrafast electric vehicle charging on Queensland’s electric super highway has received $100,000 in funding.
Visional Technologies is one of 70 companies that will receive a grant as part of more than $8.3 million in Advance Queensland Ignite Ideas funding.
“Electric vehicles are the way of the future,” Member for Jordan Charis Mullen said.
“That’s why we’ve invested $100,000 to help Visional Technologies scale-up their operation and ultimately create more jobs in Queensland.
“We’re committed to investing in innovation to create jobs in Springfield.”
Innovation Minister Kate Jones said Ignite Ideas was about supporting entrepreneurs from across Queensland to grow their businesses and employ more staff.
“These companies will use the funds to ramp up market development and expand their workforce,” she said.
“Through a highly competitive, independently assessed process they showed they have an innovative product, the talent and the right mindset to take their business to new levels and new markets.”
Through the funding, the state government has supported 271 Queensland businesses through $34.65 million (four rounds) of Ignite Ideas, driving more than one thousand new jobs.
Visional Technologies director Professor Simon Bartlett said the project would create a REVOLUTION – a Recharging Electric Vehicles On-Line Ultrafast Through Innovative Optimised Networks.
“This project will refine the REVOLUTION system for the ultra-fast electronic vehicle charging at Springfield and use that as a starting point to demonstrate potential locations for the Queensland Electric Super Highway,” Professor Bartlett said.
“Visional Technologies will immediately deliver value to the rapidly emerging electric vehicle recharging industry across Queensland by demonstrating that REVOLUTION will deliver low-cost electricity supplies to existing roadside refueling stations servicing Queensland’s transport industry.
“As we expand the company through this project, Visional Technologies will expand to four-times its size with 15 new jobs, and a further 15 jobs expected to be created through the technology rollout.”
Queensland’s chief entrepreneur Steve Baxter said the Ignite Ideas funding would help the 70 businesses take their next big step forward.
“Access to capital is one of the key challenges for early stage startups,” Mr Baxter said.
“The Ignite Ideas grants provide a source of funding that can take these businesses to the next level, helping them commercialise quickly.”