Aussie innovation – Stormseal – has won first prize for Global Social Impact in the Australian Technologies Competition (ATC) for its patented storm protection system for use following extreme weather events. The win will help further promote this unique invention across the globe.
Stormseal is a recyclable, lightweight polymer film that is heat shrunk to a damaged property to be hail resistant whilst being wind and water tight. Unlike tarpaulins, which constantly break loose and fly away, Stormseal stays put for up to a year, resisting all weather until permanent repairs can be made.
The winning pitch today focused on case studies where Stormseal sealed homes from further storm damage in Australia and across the globe, highlighting a United States’ example in Mexico Beach where a property was Stormseal protected for 11 months post Hurricane Michael, providing residents with peace of mind whilst they awaited repairs.
“Winning this competition will help us further spread the world about our invention, which super seals buildings and roofs damaged by storms or left open during construction, and aids extreme weather victims, their insurers and builders following such events,” said Managing Director and Stormseal inventor Matt Lennox.
He added that Stormseal was invented to prevent damage escalation; expedite home repairs; enhance the safety of those on roofs trying to mitigate the damage; provide peace of mind to residents and families effected; reduce the community displacement; and, overall, speed up the recovery process so everyone impacted can resume a normal life again.
“Ultimately, Stormseal is a game changer for insurance companies who are willing to take on this new method of sealing damaged property,” said Lennox.
“For example, the 2018 Sydney hail storm saw 33,000 homes damaged, with an initial insurance estimate claim of $75m. However this increased to around $1b as tarpaulins used to cover buildings failed, on average four to six times, letting in more rain and wind, and creating more damage to homes as residents’ awaited permanent repairs,” he said.
“In 2016 Stormseal was also supported by a $452,162 federal government commercialisation grant which has allowed us to market our product and help people in Australia, and around the world protect, their homes from further damage following storms.
“The recognition now provided by the ATC is a next great step on our road to success and will allow us to continue to help vulnerable people devastated by extreme weather events,” concluded Lennox.
The Australian Technologies Competition is in its ninth year and seeks to identify and accelerate Australian technology ‘scale-ups’ with the greatest global potential.
The competition is supported by the Department of Industry, Innovation & Science, the Industry Growth Centres and Industry partners. During this period, it has created an alumni pool of over 200 semi-finalists and finalists, many of whom have had significant international success.
The Competition brought together experienced entrepreneurs, business builders, angel investors, venture capital funds, commercialisation experts, leading corporates and government representatives together with founders, in a collaborative coaching environment. It has a strong focus on equipping founders with the skills and contactsto develop and manage high growth companies in challenging international markets.
Stormseal was first introduced to Australia on the ABC’s New Inventors program in 2009 so it is poignant to receive this recognition 10 years on.
For information about Stormseal and how builders can train to be a fitter visit www.stormseal.com/au.