01  /   The Concept

Wireless electricity transmission technology

HaloIPT was a University of Auckland spin-off, established to commercialise world-leading wireless electricity transmission technology.

The company was formed out of breakthrough research undertaken at Auckland University in the development of wireless chargers for electric bikes. The researchers invented a way of charging cars quickly and wirelessly by induction, via a doormat-sized plate in the ground that matches a plate beneath the car. Two years later, HaloIPT was established as a joint venture between Auckland UniServices and an engineering consultancy to commercialise the Halo technology.

The sale of HaloIPT provided UniService’s with returns to invest in further research and commercialisation, in addition to sharing a portion of the money with the inventors.

01  /  The Outcome

International Success for Halo

NZVIF’s Seed Fund co-invested, alongside the Trans Tasman Commercialisation Fund, as HaloIPT raised funds to take its product to international markets.  Within 18 months, it was purchased by a large US company, Qualcomm – a global semiconductor company which designs and markets wireless telecommunications products and services.  The multi-million dollar transaction also saw Qualcomm and UniServices commit to a long-term R&D arrangement.

The sale of HaloIPT provided UniService’s with returns to invest in further research and commercialisation, in addition to sharing a portion of the money with the inventors. Other investors also saw very healthy returns.

Many niche New Zealand technology companies need to partner with major international firms in order to break into major markets.  The HaloIPT deal achieved that while seeing significant benefits retained in New Zealand.