AGL-backed smart energy upstart buys up Melbourne-based software specialist

UK-headquartered energy optimisation specialist Kaluza has acquired Australian energy software firm Beige Technologies, in its first major move since Australian gentailer, AGL Energy, acquired a minority stake in the company.

Through the acquisition, Kaluza has doubled the size of its APAC team and highlighted its continued interest in the region. “Integrating Beige’s capabilities into Kaluza’s platform opens up a whole new sector for Kaluza, accelerating our growth in APAC and beyond,” said CEO of Kaluza, Melissa Gander.

Established in 2018, Beige has grown its product offering, referred to as “the Zoo”, to provide a range of SaaS solutions to energy retailers across the commercial and industrial sectors.

Beige’s flagship tool, known as “Moose”, can generate solar, battery and grid quotes in a much quicker time than it takes for legacy systems to complete the same task. It has also incorporated AI into another of its tools, known as “Spider”, to verify and validate billing data.

“Many of the challenges we’ve solved are now emerging globally, and we’re thrilled to scale our impact by bringing these high-performance tools to energy suppliers worldwide through Kaluza,” said Lee White, Co-Founder and Managing Director of Beige.

AGL minority stake

Kaluza was established in 2019 as an offshoot to UK retail energy company Ovo Energy, which has gone on to become the largest independent retailer in the country.

Prior to last year’s A$150 million, 20% acquisition of Kaluza, AGL Energy acquired a 51% stake in Ovo Energy Australia during 2021, before taking full ownership in the company last year.

Over the next three years, AGL plans to transfer its entire customer base onto Kaluza’s digital billing and smart energy platform – a move the company claims will save around A$70-90 million a year in operating costs and capital expenditure from 2029.

Alongside Australia, Kaluza is exploring the Japanese market in a joint venture partnership with Mitsubishi. Most recently, the pair announced that they are embarking on a smart charging programme for Honda drivers in the Land of the Rising Sun.