Find Out How Capricorn Power is Using Technology to Combat Climate Change with Their Scale-Up
It's time for another installation from our "Perfect Pitch Show" where Brandon Burns, Head of Community - Runway Virtual, interviews small business founders / entrepreneurs about the secret sauce to their successful start-up journey.
In this article we break down the inspirations and methods utilized by Co-Founder of Capricorn Power, Geoff Andrews. Geoff has been passionate about technology and the environment from a very young age and enjoys the challenge of finding and implementing new technologies. He is a pioneer in combating climate change with technology to conserve resources and find alternative solutions of energy production. He is also the engineering He has been in the business of energy conservation for a number of years and has chosen to share some of his experiences, incentives and the upcoming plans of Capricorn Power.
We hope Geoff's vision will help raise awareness to our regional communities about the various possibilities in the way of energy consumption and conservation. We believe his advice will provide valuable to small business owners and aspiring founders and provide some tips and tricks to the scene.
What Does Capricorn Power Do?
We asked Geoff what Capricorn Power was and what they have to offer. Capricorn Power was built to modernise the way heat can be used to create power. Geoff and the team work together and through dedication and perseverance they were able to create their product, the Barton Engine. The Barton Engine was designed to convert waste heat into energy and do so at a fraction of the cost of similar products on the market. This product allows for consumers and business owners to create clean energy on their own premise that won't cause disruptions to any other business operations. The Engine was built, and the concept proven in Geelong back in 2018, and thus they were able to bring their product to the market.
Capricorn Power and their product is environmentally friendly and safe and has won various awards, most notably the 2018 Australia Technologies Competition (New Energy). These are big accomplishments that Geoff and his team have been able to achieve thanks to their team of dedicated individuals who are all share a common goal. Teamwork is imperative to their success and in discovering new ways in which they can further their technologies. Ultimately their goal is to provide a way for businesses to create their own clean energy from the heat waste they produce.
For a more technical analysis of what the Barton Engine does and what Capricorn Power strives to achieve, visit their website which will be linked at the bottom of this article.
Managing Costs
We asked Geoff how he handles the costs that goes into an endeavour such as this one. Geoff advised that to begin with they used a lot of their own funds to get their business up and running. He believes that the longer you can get by using your own funds the better off your business will be. Fundraising, though necessary, can take away from needed time to focus on your product or your idea and give it the time it needs to flourish. His experience has shown him that a lot of scale-ups spend majority of their time trying to fundraise rather than trying to keep up momentum for the company. It is vital to be able to balance both, and thankfully Geoff has used his time at Capricorn Power to further his fundraising skills.
Geoff also talks about Capricorn Power's small team and how having a condensed number of staff helps you reduce the costs of running a business. He knows it is important to ensure you have all of the staff you need but that being able to expand in a sustainable way is important to...