Allegro Energy is one of the world’s most innovative renewable energy companies. It was recently awarded $500,000 under the Accelerating Commercialisation service of the Australian Government’s Entrepreneurs’ Programme, pushing forward the deployment of their unique, water-based supercapacitor technology in market.
Supercapacitors charge much faster and are reusable at a rate that is 100x more efficient than traditional batteries. However, existing supercapacitors are prohibitively expensive making wide-spread adoption a challenge, and utilise toxic and flammable electrolytes like lithium, predicted to be at a global shortage in 2025, and its extraction contributes to soil degradation, biodiversity loss and an increase in carbon dioxide and other greenhouse gases in the atmosphere.
Allegro’s patented technology is water-based, making it a much cleaner, safer and sustainable source of renewable energy, and its accessibility makes it over 90% cheaper than market alternatives. Allegro’s product can be used across a variety of sectors, such as electric vehicles (a global market expected to exceed $1trillion USD by 2028)^1; and by utility companies (worth an estimated $3.4 trillion in 2021)^1 as the market shifts to high-quality, sustainable and low-cost energy storage options.
The team’s Accelerating Commercialisation grant project is focused on building industry-quality cylindrical format supercapacitors with its newly purchased production equipment with the goal on completion of the project being the creation of more than 500 jobs in advanced manufacturing in the Hunter in regional NSW.
The Accelerating Commercialisation grant process of providing expertise and commercialisation guidance from start to finish could not have come at a better time for the founding team of accomplished academics Thomas Nann, Rohan and Fraser Hughson. Fraser states: “The Accelerating Commercialisation grant was the perfect grant for Allegro given where our technology was at the time; the unique focus on commercial outcomes for early stage deep-tech businesses is exactly the kind of thing Australia needs more of in its funding eco-system. The facilitation process by the team meant we were getting great feedback and coaching throughout and we were set up for success from the very beginning”.
It has been my pleasure to work with the Allegro team. The company is poised to transform the clean energy usage and storage industry, and the sovereign capability of this revolutionary technology means Australia can look towards a more sustainable and renewable energy source before it is exported globally. I can’t think of a better suited company than Allegro to highlight the impact the grant program has on Australian deep-tech innovation.
1: www.globenewswire.com/news-release/2021/10/04/2308053/0/en/Electric-Car-Market-to-Reach-1-9-Trillion-and-69-3-Million-Units-by-2028-Market-Size-Share-Forecasts-Trends-Analysis-Report-with-COVID-19-Impact-by-Meticulous-Research.html
