Deep Tech Energy
On 2nd October 2024, Hardware Meetup NZ ran an event showcasing several Deep Tech companies developing technology in energy space.
Energy Bank is a startup developing subsea energy storage technology for the floating offshore wind market. They focus on solving long-duration storage problems using a system involving isothermal compressed air energy storage integrated into offshore wind turbines. Tim shared the technical details and operational mechanism of their system and outlined the economic benefits of long-duration energy storage for renewable developers.
Vortex Power Systems is a company developing technology to create controlled tornadoes using industrial waste heat to generate clean power. Perzaan explained how their technology used waste heat to create the right conditions for generating artificial tornadoes, which were then used to power a turbine for energy production.
Ternary Kinetics is a startup working on a unique energy storage solution that involves converting ethanol (vodka) to acetic acid (vinegar) using electrochemical processes. They focus on providing a high-density energy storage alternative to batteries, and Sean presented the concept’s applications in heavy industry and transportation.
As part of this event, there were in-depth discussions about the challenges, technological specifics, and market applications for each of these companies, including:
Technical viability and efficiency of the proposed solutions.
Market potential and pathways to commercialization.
Overcoming the scalability challenges unique to each technology.
Questions around energy efficiency, integration with existing systems, and environmental impacts.
Overall, the event showcased innovative ideas in the hardware and energy sectors and emphasised the importance of support and collaboration for the growth of these ventures.
Speakers
Speaker 1: Sean Molloy from Ternary Kinetics
Sean Molloy, a co-founder of Ternary Kinetics, is an experienced serial entrepreneur, chemical engineer, CEO, and director, who has over 15 years experience in the development of novel sustainable energy and materials technologies.
In 2014, Sean co-founded waste to value technology developer Avertana, whose technology produces a basket of quality of life commodities from titanium rich steel making waste.
Prior to founding Avertana, Sean has worked in automotive biogas production (Greenlane Biogas), and the commercialization of gas fermentation for Carbon Capture and Utilisation in sustainable fuels and chemical production (LanzaTech). Sean is a director of ultra low carbon emissions Zinc recovery technology developer, Zincovery.
Sean’s latest entrepreneur endeavour is Ternary, where he is the CEO and co-founder. Ternary is a startup developing a technology to transport clean, low cost electricity, as a liquid for aviation, maritime, mining, trucking and other hard decarbonise sectors
Speaker 2: Tim Hawkey from EnergyBank
Tim Hawkey is the founder and CEO of EnergyBank, a DeepTech company on a mission to solve the energy storage problem. Since it's founding in 2020, EnergyBank has prototyped, proven and iterated through 3 novel energy storage approaches in conjunction with target customers. With it's latest technology iteration, EnergyBank has now secured a world first testing slot on a grid connected floating turbine off the coast of Norway (where EnergyBank will be moving in the short term). Through an integrated, multifaceted approach, their technology substantially increases the returns and scalability of offshore wind generation by leveraging the harsh deep ocean environment to it's benefit.
Speaker 3: Perzaan Mehta from Vortex Power Systems
Perzaan Mehta is CEO of Vortex Power Systems, a start up aiming to disrupt the way we deal with wasted heat, by developing a way to turn the excess heat into a waterspout. The wind speeds produced by the waterspout can be used to turn a turbine and generate clean electricity, and providing another tool in the fight against climate change.
MC: Mikayla Stokes
Mikayla Stokes is a mechatronics engineer at Crown Equipment making autonomous forklifts. She loves using tech to make cool wearable things like a light-up dress or 3D printed earrings. She's passionate about creating an inclusive community where any kid can pursue a future in STEM, and is the two time overall female winner of the BrightSparks inventing competition.
Event Sponsors
Blender
Blender is a product design and development consultancy. Their collaborative approach, strategic design process and technical know-how deliver engineered, purpose-made products. Since 2006 Blender has partnered with many incredible people, helping them to realise their vision and shape the future by supporting them with exceptional product design, prototyping, engineering, and manufacturing services.
Outset Ventures
Outset Ventures are committed to empowering overlooked science and engineering innovators to transform their ideas into groundbreaking ventures, helping them succeed at the critical early stages. As New Zealand's center of gravity for science and engineering startups and scaleups, Outset is home to a community of 40+ founder-led companies, 5000 square meters of laboratory and workshop spaces, and the country's most active deep technology investment fund.
blackbird
Blackbird Ventures is a venture capital fund based in New Zealand and Australia. Blackbird backs generational ambition and invests in the best startup companies, all the way through their journey from idea to beyond IPO.
lowndes jordan
Lowndes Jordan is a top niche law firm with corporate, commercial, property, employment, IP and litigation service offerings. The firm acts for a wide range of organisations across the spectrum of maturity from startups through to listed companies/multinationals. Lowndes Jordan has deep expertise in the startup space, having acted for startups, founders, investors and employees of startup companies on a wide range of matters including capital raising (including crowdfunding), ESOPs, shareholders’ agreements and disputes, IP protection and licensing, commercial contracts, US flips, acquisitions and IPOs.