Start-Up Funding for Revolutionary Mining Technology in Australia
Creation of new jobs and commercialisation of a revolutionary new Queensland technology are now firmly in the sights of Yeppoon based start-up – Cool Mine Pty Ltd – following their successful application for almost $100,000 in the Queensland Government’s Advance Queensland Ignite Ideas Fund.
Cool Mine was amongst eighty-five innovative businesses announced as funding recipients in the third funding round by Minister for Innovation, Science and the Digital Economy and Minister for Small Business, The Honourable Leeanne Enoch.
Cool Mine’s lightweight and portable rapid cooling device – The Cool Tube – is revolutionary mining technology which eliminates heat stress on workers in underground mining and other contained environments. The air-conditioner like device operates without electrical input, has no moving or maintenance parts, and no greenhouse gas emissions – making it adaptable to a range of different environments including underground mining, confined space locations and recovery tents.
‘Our product is Queensland-made for Queenslanders, but with global application. The Ignite Ideas Fund cash injection gives us the opportunity to scale the business, access domestic and international markets, as well as engage mostly Queensland-based experts,’ said Cool Mine co-founder Vanessa Gleadhill.
‘Securing the grant is crucial to the ongoing success of The Cool Tube and we will be able to start creating new jobs as a result of the grant.’
Bentleys Queensland were honoured to be a part of the team assisting Cool Mine with their application in the highly competitive funding round.
‘The Ignite Ideas Fund merit requirements are tough and the grant application is very detailed,’ said Research and Innovation Manager for Bentleys Queensland, Ilona Caruana.
‘The application focussed on the positive impact that The Cool Tube has on improving worker safety in underground and contained environments, the rigour of the commercialisation strategy, as well as the company’s high growth potential that will generate direct economic benefits for Queensland.’
‘The team’s passion was infectious and we couldn’t be prouder of them and their hard-earned success. We love working alongside innovative businesses who continuously strive for excellence.’
For The Cool Tube, the next phase of the journey is well underway. With Mark I of the product already creating safer workplaces in Australia and internationally, Mark II is currently under development. The next version – due for release around September 2018 – will incorporate client feedback and specifications from various industries, and is estimated to yield two to four times increased performance, with even wider application possible.
“Our team is eager to get started. The current version of The Cool Tube has been very well received, and we cannot wait to get the improved version on the market,” said Ms Gleadhill.
‘We’re also excited to continue to work with the team at Bentleys Queensland during this rapid growth phase. Bentleys have completely embraced our venture. Their approach is unique and they have a stake in their clients that translates on a personal level. We felt confident in the guidance we were given and knew we were surrounded with good people to help us on our journey.’
Bentleys have completely embraced our venture. Their approach is unique and they have a stake in their clients that translates on a personal level. We knew we were surrounded with good people.
Vanessa Gleadhill, Co-Founder Cool Mine Pty Ltd
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