Australia's best and brightest technology talent was assembled last night at the Sheraton on the Park for the second annual Australian Technology Awards.

A joint initiative of PriceWaterhouseCoopers and Technology Transactions, the Australian Technology Awards seeks to draw the attention of the investment and professional communities to excellence in technological development and application.

"Australia is set for a very bright and robust future as a knowledge based economy going by the number and quality of the nominations we received for the Awards," said Denis Hanley, Chairman of the Australian Technology Awards Judging Committee. "A number of the companies recognised tonight have the potential to become billion dollar entities as they expand globally.

Among the winners was DADANCO Pty Limited, who took away the Excellence in the Development of Technology from an Organisation Employing less than 50 People award.

DADANCO is a world leader in innovative design of air conditioning systems and equipment. Based in Adelaide, Australia the company manufactures the STARLINE range of perimeter induction air conditioning system units.

Patented DADANCO air conditioning technology is a combination of a unique nozzle and mixing chamber design that improves the capacity of induction air conditioning systems by up to 50%, lowers air-conditioning background noise by up to 10db to as low as NR28, and reduces energy usage to as low as 40% of a comparable conventional system. The technology has been adapted by DADANCO into refurbishment, retro-fit and custom-designed new systems suitable for office buildings, hotels, hospitals, schools/colleges, airport lounges, department stores and public areas.

BRW's Robert Gottliebsen, Master of Ceremonies for the evening, outlined the criteria for judging the winners being as:

Australian origin: The technology must have originated in Australia or if it has been developed elsewhere, the application of it must have a highly innovative Australian component.

Innovation: The submission should represent innovative new technology, or a significant improvement to an existing technology, or its application.

Technologically credible: The technology must have scientific credibility based on sound principles relating to its particular discipline(s).

Market development: The technology should create a new market or significantly develop an existing market, and demonstrate positive consumer response, or has the potential to do so. If the technology is identified with an existing market it must have competitive advantage.

Socially/community beneficial: The technology must have positive benefits to the community generally and raise community standards in a particular area of society, or has the potential to do so.

Globalisation/export potential: The technology should have the potential to compete successfully internationally on the basis of price, quality, functionality and reliability as well as contribute to Australian wealth generation through export or has the potential to do so.

Environmentally beneficial: The technology must have the ability to impact in a positive way on the environment, or has the potential to do so. It should also provide an innovative solution to solving an existing environment problem, or contribute to a solution.

Commercialisation: The technology should contribute to factors that allow an organisation to raise capital or increase company value. It should also facilitate an organisation to be listed on a Stock Exchange in Australia or overseas, or has the potential to do so.

Employment: It should allow an organisation to increase employment in Australia, or has the potential to do so and represent a new way of conducting business or achieving business objectives.

He said the judges were satisfied DADANCo met every one of the required criteria to win the award.

In accepting the award, Dadanco Managing Director Vcladimir Petrovic siad the company consistsed of a team of dedicated professionals with a wealth of knowledge in the design of air conditioning equipment.

"We constantly strive to ensure that the performance of all products is kept ahead of expectations without compromising consistency and quality," he said.

"As part of our commitment to reducing envirnomental impact by lowering air conditioner energy usage through the application of our research and technology, we have recently embarked on a project to develop low 'embodied-energy' products from materials that require less energy in their production than traditional aluminium or steel and can be easily recycled," Mr Petrovic said

The company won two other awards in 1998: an Australia Day Council (SA) Business Certificate and Mr Petrovic won the Telstra/Ernst & Young Entrepreneur of the Year Award.