XeroCoat Pty Ltd has received funding from a consortium of investors to progress its innovative anti-fogging and anti-reflective coating technology.
Spun out of The University of Queensland by UniQuest Pty Ltd, XeroCoat is commercialising a breakthrough technology developed by Dr Michael Harvey and Dr Paul Meredith.
Backed by Uniseed, inQbator, Allen & Buckeridge and teQstart Investment Fund, the company now has significant funding to take it through the next 12 months, according to XeroCoat Chief Executive Officer Stephan McRae.
“The investment will provide critical funding to progress XeroCoat to the next stage of commercialisation,” Mr McRae said.
“XeroCoat’s technology is well advanced but it has a wide range of applications, so one of our challenges is to decide where to focus our research and development as well as our marketing efforts.
“We’ve had a significant amount of market place interest from across the application areas, but while XeroCoat’s core technology might remain the same, each application requires a different approach.
“As an early-stage company we can only afford to focus on a couple of areas.”
XeroCoat’s coating technology can be applied to prevent the fogging of consumer products such as reading and sun glasses; sporting eyewear such as swimming goggles; or flat glass products such as mirrors and windscreens.
The technology’s anti-reflective property has the potential to improve the performance of electronic products such as touch screens, solar cells and glasshouses.
XeroCoat inventor Dr Michael Harvey said the coating was simple to apply, inexpensive to produce and environmentally friendly.
“This coating has the enormous potential to revolutionise many products so it’s exciting to have the opportunity to turn it from an idea into reality,” Dr Harvey said.
“The whole team is excited by the support and the reception we’ve had from the market.”
Media inquiries: Stephan McRae at XeroCoat Pty Ltd (07 3870 0522 or 0418 161 249), or Howard Leemon (07 3365 8884) and Julia Renaud (07 3365 4037 or 0438 436 179) at UniQuest Pty Ltd.
