10 promising climate change startups in the new EnergyLab accelerator program

Ten Australian startups have been chosen for EnergyLab’s 2022 Climate Solutions Accelerator, banking $750,000 between then to focus on tackling climate change.

The six month EnergyLab accelerator provides climate tech startups with an initial pre-seed investment as well as coaching, industry partnerships and assistance in raising further capital for their global ambitions.

EnergyLab’s CEO Megan Fisher said the combined $750,000 in backing from a group of angel investors, was up 50% on 2021’s fund.

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

“The Climate Solutions Accelerator will help ensure these startups get the support, expertise and connections they need to take these incredible solutions global”

The 2022 cohort are:

Founded in 2021 by a small group of scientists at Victoria University of Wellington and the University of Newcastle, 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.

Acacia Money (Sydney) 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.

Based in Melbourne, 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.

Headquartered in Loganholme, QLD, 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.

From Adelaide, Economical Energy is developing a scalable, 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. 

In a first for the Climate Solutions Accelerator, the cohort features a startup that will help the world adapt to the impacts of climate change, a growing area in climate tech.

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.

Sydney-based 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. By providing solar and battery systems at no cost to the end user and taking responsibility for their integration into the electricity grid, NRN are removing one of the biggest barriers to entry and taking the onus off the end user to maintain the system and maximise its value. NRN is a fund and asset manager that is offering its services to energy retailers that can offer energy plans that include solar, battery and EV chargers without the capital outlay for their customers.

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.

Founded in Melbourne, 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.

Founded in Adelaide, 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.