Ten startups tackling emissions challenges ranging from industrial heat to passive cooling solutions, energy storage and electric aviation, having been selected for EnergyLab’s 2024 climate solutions accelerator.
EnergyLab is ANZ’s largest climate tech startup accelerator and innovation network dedicated to reaching net zero emissions and has supported more than 180 startups and 125 aspiring founders through its various programs.
On top of joining the program, the startups in the 11th cohort also receive financial backing, with EnergyLab raising its fourth annual fund with a group of angel investors.
So far more than 60 investors have invested into EnergyLab’s startups via fund partner, Impact Ventures, which now has over 60 climate tech portfolio companies including Amber Electric, Farmbot, Renewable Metals and Orkestra.
EnergyLab Accelerator fund investor, Dean Travers, said a key strength of the fund is its portfolio diversification.
“It offers the unique opportunity to invest in a handful of the most promising up and coming climate tech startups each year,” he said.
“Beyond being a source of funds, angel investors can add value by sharing their network, providing advice based on domain expertise or simply by being a sounding board having been around the block a few times.”
The Accelerator fund has seen significant follow-on investment into startups from the past three Accelerator program cohorts, including drone-based power line installation startup Infravision’s $36 million Series A in 2023.
EnergyLab CEO Megan Fisher said the Climate Solutions Accelerator provides critical support for startups to grow and scale.
“At a time when early-stage funding is becoming increasingly more difficult to access, our accelerator helps founders to increase their traction by learning valuable lessons with other founders going through similar challenges, being introduced to experts with deep industry knowledge and by opening doors to new investors and industry connections,” she said.
The startups in the 2024 program are:
Brownee, which empowers SMEs to thrive in a sustainable economy.
They increase revenue, reduce cost, address risks and become more sustainable, too. Their gamified tool makes that simple, accessible and rewarding.
The ecosystem approach makes it scalable and successful.
Cofounder Renate Crollini said: “We have just graduated from their Charge program. We hence know from experience how capable and engaged the team is and how well connected. The accelerator will be super helpful for partnerships and when we go for our seed raise soon.”
CLT Toolbox, which is building structural design software for structural engineers looking to design sustainably. The software aspires to make mass timber easier to design with than concrete or steel by eliminating the bottlenecks and barriers to adoption.
Dewpoint Innovations, which is working to combat climate change through the development of novel coatings which allow for passive cooling and atmospheric water collection.
Cofounder Chiara Neto said: “Our team looks forward to engaging with EnergyLab’s network of climate-conscious innovators, investors and policy makers to move passive technologies to the forefront of the building and infrastructure sectors.”
Enaxiom’s Tia Collings and Bijan Rahimi
Enaxiom‘s patented technology harnesses low-grade waste heat to decarbonise wastewater treatment, replacing emission-intensive cooling systems in green hydrogen production, manufacturing, data centre cooling, and mineral extraction.
Cofounder Tia Collings said:“As a startup with high-growth ambitions and big-impact goals, we see the ability to tap into EnergyLab’s incredible extended network and connection as a key step to supporting our strategy and goals.”
GridStore Energy‘s SolarBoost is the world’s only distributed, behind the metre battery that optimises the power output of solar panels providing up to 15% more power and 30% more profit.
InfigoLabs electrifies high-temperature heat production, abating gigatons of CO2.
Unlike the centuries-old, air-polluting industrial-scale fossil fuel combustion, InfigoLabs’ technology drastically slows down the explosive reaction between hydrogen and oxygen gases, producing very high temperature heat to decarbonise the hard-to-abate sectors.
Prashant Parulekar said: “This is a key step in our scaleup journey, as we execute our technology readiness level maturation activities.”
OptiGrid’s
Nam Dinh and Sahand Karimi and
OptiGrid increases revenue from batteries and flexible energy resources by optimising their operations.
Two products help utility-scale battery operators, energy retailers and virtual power plants to maximise the potential of their energy assets; OptiForecaster delivers accurate forecasts of wholesale electricity prices, and OptiBidder intelligently manages asset operation and market bidding.
CEO Sahand Karimi said: “OptiGrid spun out of the university just recently, and we are thrilled to join the 2024 Accelerator cohort! Energylab’s program provides invaluable opportunities to expand our network in the energy industry, engage with experts, and optimise our strategies.”
Planet Price helps large organisations reduce their footprint on the planet by quantifying the environmental impact of everything they purchase as a single monetary value.
Stralis Aircraft’s Bob Criner
Stralis Aircraft makes emission free hydrogen electric aircraft. Their cutting-edge fuel cell technology allows their planes to fly 10 times further than battery electric alternatives whilst being 50% cheaper to operate than fossil fuelled powered aircraft.
Their MVP is a 15-seat retrofit aircraft that emits only water, and is set to enter commercial service in 2027 with launch customer Skytrans.
CEO Bob Criner said: “The original idea for Stralis was incubated at EnergyLab back in 2020, so we’re excited to come full circle as we start to scale our business. This program will allow us to build valuable new connections within the Australian climate tech community to support future fundraising and international expansion activities.”
X-Centric cofounders Junghyun Lee and Roozbeh Ravansari
X-Centric is developing a field-portable, proprietary technology that rapidly analyses soil samples providing a broad range of data including carbon information on-site and in real-time, informing soil management and facilitating emerging agricultural carbon markets.
CEO Roozbeh Ravansari said: “X-Centric is looking forward to growing alongside a cohort of change makers that are working towards making the world more sustainable. Our technology is paramount in tackling the multifaceted challenges posed by climate change while safeguarding food security.”
There more about the Climate Solutions Accelerator here
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