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University congratulates campus-based winner of Kent Innovation Challenge 2008

Carole Barron, Director of Enterprise at the University of Kent, was among the first to congratulate Oil Drum Limited, an environmentally focused renewable energy company based at the University's Canterbury campus, on winning the Kent Innovation Challenge 2008.

As a result of its achievement the company will receive a £20,000 cash prize plus: free rent for one year at the Canterbury Enterprise Hub; free business and banking support from NatWest for 18 months; up to 10 days free business mentoring from Business Link Kent; legal support from Vertex Law to the value of £5,000; filming and production of a corporate video to the value of £5,000; and two years free membership to the Confederation of British Industry.

Oil Drum Limited was formed in 2006 by Darryl Watts. Based at the University for 18 months it now operates in a number of markets relating to clean and renewable energy products. Since becoming a tenant of the University's Incubation Unit, the company has directed its core activity toward hydrogen technology, a process that uses electrolysis to produce oxy-hydrogen gas to increase fuel efficiency in commercial vehicles and to simultaneously reduce levels of gas emissions from the engines.

Carole Barron said: 'We would like to congratulate Darryl Watts, his partners and his team on their well-deserved success - this is fantastic news. We are also delighted to have a partnership with their company, one that clearly demonstrates that the University is a real world institution, providing practical solutions and support to the business community.'

David Butler, Director of Canterbury Enterprise Hub, said: 'The team at Oil Drum Limited is a dynamic example of how entrepreneurs can use innovative ideas for the benefit of the environment - they well and truly deserve this award.'

The Kent Innovation Challenge is supported by the University of Kent, Canterbury Enterprise Hub, SEEDA, Sittingbourne Enterprise Hub, Medway Enterprise Hub, Kent County Council, Kent Science Park, Business Link, Vertex Law, NatWest, Coast Communications, Lavender Blue Media, the University of Greenwich, CBI and Kent on Sunday.

Contact: mediaoffice@kent.ac.uk

Story published at 11:59am 7 April 2008