The Australian Renewable Energy Agency (ARENA) says it will invest $1.64 million in EnergyLab to help the climate and cleantech accelerator support the next generation of renewable startups.
The grant money is designed to address the current lack of support for early stage clean energy startups in Australia. EnergyLab has supported over 170 startups in the last seven years, and built a network of more than 370 mentors and 180 angel investors.
Its successes include the energy retailer Amber Electric, redox flow battery producer Allegro Energy, end-of-life battery recycler Renewable Metals, and more.
“Moving forward we will be focused on delivering support that takes founders all the way from launching a startup to scaling globally,” said Megan Fisher, CEO and director of EnergyLab.
“It’s an exciting time for the startup innovation ecosystem in Australia, and providing the right support for founders will be a key element in Australia becoming a renewable energy super power.”
Darren Miller, the CEO of ARENA, says startups represent the future of renewable energy, “taking the ideas and technologies that will get us to net zero and bringing them to market.
“ARENA is funding EnergyLab to keep providing entrepreneurial support services to the renewable businesses of tomorrow, because of the transformative impact new ideas can have.
“We’re excited to see what the next generation of EnergyLab alumni go on to achieve.”
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