Green lubricant won Venture Cup North
Researchers at Luleå University of Technology stand behind the environmentally friendly lubricant that has received considerable attention over the past year. That the product has great potential was confirmed once more by winning the Venture Cup Nord's regional final.
– We are very pleased to win the regional finals; it helps us to promote our environmentally friendly product. It will make it easier for us when we later talk with potential customers and partners, says Yijun Shi, researcher in Machine Elements at Luleå University of Technology.
Close to market launch
Yijun Shi, Christian Olsson, Roland Larsson and Mattias Grahn at Luleå University of Technology have, with the help from LTU Business, ABI’s incubator program, and financial support from VINNOVA, started the company Sustainalube AB and a market launch is near. The lubricant is based on a non toxic waste from industry with a plant-based additive. The combination provides a renewable lubricant with high functionality and it will have a competitive price compared to other lubricants.
–The product is now undergoing final field tests and is almost ready for market launch, says Yijun Shi.
A unique idea
Venture Cup is Sweden's leading competition for those who want to develop their business idea into a successful business concept. The organization behind the competition is supported by all major Swedish universities and is conducted in partnership with the private and public sectors.
The jury’s motivation for the price shows good chances for the LTU-researchers to win the Sweden final in Gothenburg on June 9, 2016.
"A complete, unique business with established customer interest. With a good drive, great experience and a great opportunity for growth, this team demonstrates that they are worthy of winning the competition. They have found a clear target market and focuses on the benefits of society. A unique idea! "