Government Invests $795K in Startup CINTEP!
Brisbane based startup CINTEP are not taking a break to even slightly celebrate their recent funding success from the Australian Federal Goverment. The team are full steam ahead and hope to have as many Aussie’s as possible using their new ultra efficient shower system and stopping their money from going down the drain.
If you are anything like me, [and for this article I am going to presume you are when it comes to showering] – you like your shower to have some pressure behind it, personally there is nothing worse than dribble-some flow, but unlike other “water saving” products on the market, CINTEP use 70% less water and energy but DON’T reduce the flow at the shower head. [yay!]
The grant was part of $9 million awarded to 24 organisations by the Commonwealth Department of Industry, Innovation, Science, Research and Tertiary Education in June. To be eligible for the grants, companies had to be able to demonstrate the commercial viability of their product, process or service and have an annual turnover less than $50 million.
CINTEP chief executive officer Nick Christy said the funding would allow the final commercial design work and certification of the product to Australian Standards to be completed.
“We are currently 6 – 12 months away from supplying the Australian market with the first ultra- efficient shower system and the support from Commercialisation Australia will help us meet the needs of Aussie households sooner,” Mr Christy said.
“With shower use representing the biggest household water guzzler and the second biggest use of energy, 70 per cent savings mean a significant financial benefit to Aussie households battling rising utility costs. Better efficiency is the best answer to rising power prices, if you use less, your bill goes down.”
Oh and just to add some star power to the mix – Sir Richard Branson has asked the company to provide the recycling showers for his home. Yes – How Boss is that?
“If we are not going to consume less, we must consume differently,” Sir Richard said.
“After receiving international endorsements, we are looking forward to presenting the shower on the national stage at the Australian finals of the Cleantech Open and showcasing a world-class eco- friendly innovation that comes from Queensland,” Mr Christy said.
“The product is generating a lot of excitement amongst commercial organisations locally and overseas and we look forward to introducing a product that Queenslanders can be proud of.”
In addition to this funding, the company also won $700,000 at the International Green Challenge in Amsterdam beating over 700 companies from 80 other countries to take the award for best International Sustainable Technology.
The company estimates that once rolled out the product will save the average Aussie family [four people] annual cost’s of around $937.00 – Definitely a local crew to keep your eyes on methinks!
[Nick Pictured winning the comp in Amsterdam]