FREO2 life saving oxygen technology announced a Top 12 Finalist in the Macquarie 50th Anniversary Award
Five of the finalists will be awarded $A10 million each to fund projects that address an area of social need.
The finalists, selected from close to 1,000 applications, have entered the final stage of a selection process that is expected to identify five non-profit organisations to receive approximately $A10 million each and mark Macquarie Group's 50th anniversary of operations.
Pneumonia is the biggest killer of children under five worldwide, and a reliable oxygen supply is essential to keep sufferers alive. Oxygen supply typically requires electricity, and so when the power goes out, children start dying.
FREO2 is developing technology that affordably produces, stores and distributes medical grade oxygen without the need for electricity.
Developed by University of Melbourne physicists and global health experts, the FREO2 LPOS (Low Pressure Oxygen Store) is currently being used in remote medical facilities in Uganda to provide reliable oxygen to babies and young children suffering from pneumonia.
The team is expanding the project to other countries, and if successful, the award will enable the rollout of FREO2 technology across sub-Saharan Africa and the Pacific, using a social enterprise model that empowers communities to create and maintain these innovative devices.
The Macquarie 50th Anniversary Award finalists address issues across the education, healthcare, accessibility, human rights and social justice, impact investing and environment sectors. As part of the selection criteria, the successful projects have the potential for lasting community benefit and a defined approach to measuring social impact.
The five Award recipients will be selected from the finalists by the Macquarie Group Foundation Committee and are expected to be announced in August 2019.
Read the media release from Macquarie Group
To interview one of the FREO2 founders, contact the Media Office on +61 3 8344 4123.