The Australian company that makes polyethylenes is looking to create a world-first material to withstand high temperatures.
The company, known as Cottam, has already shown off its thermal insulation technology, which can withstand temperatures of up to 3,000 degrees Celsius.
The insulation could potentially make a huge difference to the lives of millions of Australians who live in areas of the country that are not insulated.
The material is being used in areas where the Australian Bureau of Meteorology (ABS) has found elevated temperatures are common and are not causing widespread problems.
The ABS said on Monday the Australian weather experienced the highest daily temperatures since records began in 1884.
The Australian Bureau also warned on Monday that high temperatures in recent days had led to an increase in bushfires in Queensland and NSW, with temperatures at the state capital Brisbane reaching 35 degrees Celsius on Monday.
The latest fires in NSW and Queensland are the latest in a series of fires that have burnt more than 2,300 hectares (5,500 acres) of land and damaged or destroyed more than $11 billion worth of property in NSW, Victoria and Queensland.
The fires were fuelled by unusually hot conditions in the area around the state, the NSW Department of Primary Industries said on Tuesday.
The bureau has recorded a total of 14,600 fires in the past month and fires have charred more than 17,000 hectares (47,000 acres) in NSW alone.
Cottam has said it is not seeking to be the first to make the material, but has plans to start a business to develop it.
The project, which was announced last month, would use carbon nanotubes, which are produced by using the process of using carbon dioxide and water to form a bond.
The process uses a chemical reaction to form carbon nanorods.
A Cottams technology manager said the company would be looking to partner with some of the world’s biggest manufacturers of carbon nanotechnology to produce carbon nanosheets.
“There’s an opportunity for the world to become the first and largest producer of carbon fiber material,” Mr Nesbitt said.
“It’s going to be incredibly important for the economy and we’re looking forward to working with these companies.”
Cottams founder Chris Breen said the material could also be used to make flexible, high-density foam insulation.
“You can see it’s the same technology that is used in thermal insulation, but you can also use it for a lot of other applications,” he said.
Cotelands chief executive Andrew Noyce said the thermal insulation project would be a boon for the state.
“We have to see this material used around the world, particularly in places where there’s not the thermal protection that we have,” Mr Breen told ABC News Breakfast.
“I think it will be really exciting for our state.”
The project is still being developed, with preliminary work on the thermal fiber being carried out at Cottamus headquarters in Brisbane.
“This project is not yet finished,” Mr Cottamas chief executive, Mr Noyces, said.
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