The 10 startups EngergyLab selected for its Climate Solutions Accelerator

EnergyLab’s 2022 Climate Solutions Accelerator has selected 10 Australian startups for its next cohort with the ambition to make the country a global renewable energy superpower.

Receiving a combined investment of three quarters of a million dollars from a group of angel investors (up 50% on 2021’s fund),

The 1o companies taking part have kicked off a 6-month program to accelerate the deployment of their climate solutions in Australia and globally, also sharing in $750,000 in angel investment for their initial development.

EnergyLab CEO Megan Fisher said the Climate Solutions Accelerator will help the startups involved get the support, expertise and connections they need to go global. 

“This cohort is founding world-leading innovation in climate technology from revolutionising air conditioning to developing more environmentally sustainable batteries,” she said. 

Here are the 10 startups involved:

Allegro Energy have invented a new, patented, water-based electrolyte system that makes many battery types not only much cheaper, but also environmentally friendly and compatible with a circular economy.

Cofounders: Thomas Naan, Rohan Borah, Fraser Hughson.

Acacia Money is a financial technology business that is reshaping financial services so that people and our planet can access a better future through simpler, smarter and more sustainable money management. Acacia’s platform & marketplace will connect consumers with financial options that are genuinely sustainable and financially rewarding.

Founder: Anil Sagaram

Conry Tech is reinventing air-conditioning to improve and decarbonise comfort in the urban environment. The founders, who are well-known for creating disruptive innovation in the HVAC industry previously (their invention of the Turbocor compressor being a prime example), believe their new decentralised ‘BullAnt’ HVAC system will prove even more disruptive. Their radical system improves efficiency by up to 70%, integrates more effectively with renewables, pushes buildings to net-zero, creates a healthier indoor environment, and eliminates the reliance on fossil fuels.

Founder: Sam Ringwaldt

EcoJoule Energy specialises in the design and manufacture of revolutionary, sustainable, technology solutions for the electricity grid. Their core products are community batteries and voltage regulators for the low voltage distribution network, enhancing the integration of distributed clean energy resources like rooftop solar.

Founder: Mike Wishart

Economical Energy is developing a scaleable, cost effective, long duration energy storage solution for renewable energy integration. Their Vertically Integrated Potential Energy Reservoir (VIPER) uses gravity to store energy, just like pumped hydro but using pellets rather than water.

Founder: Matthew Forrest

Farmbot provides remote monitoring solutions that take the guesswork out of measuring and analysing water. Their hardware drives data to a SaaS platform providing users with near real-time SMS and email alerts and reporting on water levels and trends. This data helps farmers make better business decisions contributing to a more sustainable water supply.

Cofounders: Andrew Coppin, Craig Hendricks

NRN (National Renewable Network) is a connected network of Solar and Battery Storage Systems, enabling households and businesses to switch to Renewable Energy without any upfront cost of finance, whilst also saving on their energy bill.

Founder: Alan Hunter

Raaise is the platform powering climate startups in search of value-aligned capital, allowing founders to take control of their raise through smart workflows and expert guides, dramatically reducing the time and resources typically required to close a round.

Founder: Amy Carter-James, Neal Carter-James, Sonja Trio, Ben Keene

Solstice AI applies state-of-the-art artificial intelligence techniques to satellite imagery to identify solar panels and accurately forecast solar power generation across whole suburbs. Their technology enables more solar to be integrated into the grid at lower cost, allowing for greater uptake of renewable energy.

Cofounders: Julian De Hoog, Peter Ilfrich, Maneesha Perera

ValAi is a startup building the tools the industry needs today so they can meet the sustainable finance demands of society tomorrow. Their product, Greenhouse, identifies a home’s sustainability and energy efficiency rating and provides tailored advice to help homeowners reduce their carbon footprint. This in turn assists financial institutions to report on the emissions of assets they finance and unlocks tailored insurance premiums, home and personal loans to transition houses, increase energy efficiency and future-proof homes.

Cofounders: Allys Todd, Tom Reed