Venture Cup is Sweden's leading event for those who want to develop their business idea into a successful business concept and start a business. Since 1998, the contest has been conducted with the aim of creating growth in Sweden. In the Moment Mission, one compete with a brief description of your business idea.
The winners of torque business idea, in the class Environment & Energy, is the group behind a revolutionary environmentally friendly lubricant, developed by researchers at Luleå University of Technology.
The lubricant, which is completely new in its kind, is based on glycerol and extracted using waste products from biomass. In addition to the environmental benefits, the product is better and costs less.
- The product is 100 percent renewable and manufacturing is simple and cost effective. The process causes either no carbon emissions. We have tested the lubricant out in the field and it performs better than current products, says Yijun Shi, a postdoctoral researcher at Machine Elements, Luleå University of Technology.
Applied for a patent
In collaboration with LTU Business AB, and with funding from VINNOVA, the researchers now plan now for a market launch, and the optimism is high.
Patents are pending for the recipe and method.
- It can be really big for certain applications requiring extra environmental concerns, such as forestry machines. But we also believe that we can develop the lubricant so that it can compete with traditional lubricants for many other applications, says Roland Larsson, Professor in Machine Elements at Luleå University of Technology.
The next stage of the competition is Torque Business Plan which participants must submit their business plan for the Venture Cup later than April 7 PM. 13:00.