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Brisbane company founded on an ironing board is now a $300 million concern

Business

Scott Graham remembers how tough it was to start his company, to organise patents and get his dream realised.

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“We risked it all.’’ he said.

“My wife and I took our entire life savings, we even sold our furniture. I even had to sell my desk and chair to pay for the patents. I was working off an ironing board and a kitchen chair. The ironing board was my desk.

“I think we are all beholden to some form of destiny and I could not have not done it. 

“I have fought so hard for this company and I believe in it absolutely.’’

His company, the Brisbane-based Rex Energy, is now emerging from its embryonic form after starting in March last year, just as the pandemic was hitting Australia.

The basis for his business is that there has been no incentive for anyone in multi-tenanted buildings to do anything in the world of renewables.

Even though the former architect and energy consultant is self taught he designed a system that monitored and equitably distributed renewable energy to all the tenants.

“We haven’t even gone to market yet and we have about $300 million worth of work on the table. We have that in heads of agreements.’’

Rex already has an application at a commercial and industrial site in Loganholme and Rex  is working with community-titled villages in the retirement sector.

“Every tenant can have their own solar system and we capture the excess solar in the day and send it back to them at night,’’ he said.

“So we can intentionally over produce and sell it to the grid at night which drives additional revenue to the neighbourhood.

“We essentially supply the exact amount of energy every tenant needs in real time.

“We can do that over a 24 hour period.’’

He said the system also worked in helping to stabilise the grid by sending it stored power at times of need.

He said there is also interest from India, Indonesia and the UAE.

“All companies in our position are looking for capital. We have around $20 to $50m in capital committed for works so if I went out and said I want to buy that piece of land and I want to put in a storage system that’s something we can do,’’ he said.

“But when it comes to operating capital that’s something any company in our stage is looking for.’’

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