Today I attended a meeting of a small local company with great technology aimed at reducing truck fuel usage by 25%. The technology is proven and ready for production. The company looks like getting wound up because of lack of funds to produce the product. An outcome of today's meeting was the establishment of a not for profit organisation aimed at raising funds to assist Australian inventions in circumstances like these. The first company to be assisted if funds can be raised will be Permo-drive.
One of the main causes of the companies problems is the new government withdrawing $5m in funding the company had hoped to receive under the "commercial ready grant scheme". The other is the failure of an American company that was to be a partner in developing and marketing the product.
The technology is a regenerative drive system that stores energy obtained in slowing the vehicle and releasing it when needed for accelleration. The equipment has been trialled successfully by the US army with the trial vehicle clocking up 35,000 miles. The tests have shown a 25% reduction in fuel comsumption and polution emissions.
The commonwealth has seen fit to grant the foriegn multinational company Toyota a $35m subsidy in support of it's fuel saving hybrid vehicle but has not responded yet to many appeals for help for this Aussie company.
This is a proven technology with massive savings possible for fuel and will help in a large way towards polution reduction.
The details of the permodrive invention can be found on the company web site. www.permo-drive.com.
There are two ways you can help. The first is to contact your local member of parliament and ask WHY IS IT SO?. The second is to become a member of the new organisation which is being set up to help, not only Permo-drive but also other struggligg Aussie companies.
Membership Fees . An individual $50
A business $500
Contact address Save Our Technology Inc
12 Carrington St
BALLINA N.S.W. 2478
Check it out and give a little.Everyone who doesn't like to see Aussie inventions sold cheaply and developed overseas should be concerned enough to help.