"We have developed the material and the manufacturing process on a lab scale and they have taken that process and duplicated it on a commercial scale."
Kirk Torr, the research scientist leading the project team, said the material had shown good potential to improve the performance of batteries and supercapacitors.
"Markets for carbon electrodes are showing a lot of growth at the moment, driven by the rise in demand for sustainable technologies," he said.
"We really believe our technology can offer comparable or even better performance at a considerable cost advantage."
Chief executive Carl Jones said WNTVentures had initially provided a pre-incubation Callaghan Innovation grant of $35,000 as part of its two-stage process for developing companies to the point where they could attract angel or venture stage investment.
WNT has engaged two experts in Taiwan to provide a global overview of market access points for the nanofibre technology. They would then feed that information to a New Zealand expert who would assess what a potential company would require in terms of human and capital requirements to take it to a commercial stage.
Then WNT would sit down with Scion and Revolution Fibres and decide whether to go to the next stage, in which the new company would receive a total of $450,000 from Callaghan, including the initial $35,000, plus $150,000 from the incubator.
WNTVentures
* One of three new government backed hi-tech business incubators.
* Can access repayable Callaghan Innovation grants of up to $450,000 over two years to eligible companies, matched 1:3 with the incubator contributing up to $150,000