Renewable energy software platform Orkestra has raised $1.1 million in a Seed round to support large power companies roll out new projects. The raise was led by local seed stage VC Tidal Ventures with support from angel investors with links to the energy industry. The capital is will be used to expand Okestra’s team and… Read more »
It’s the end the line for coal in Victoria, after Victorian Premier Dan Andrews this week announced plans for 95% renewables within 13 years. Until now, the industrialised state has been aiming for 50% by 2030. But it’s also the end of the line for our ailing, mostly privatised, energy market. Public ownership is back… Read more »
US investment firm BlackRock is acquiring local battery storage developer Akaysha Energy as part of a deal to spend A$1 billion to develop 1GW (Gigawatt) worth of storage feeding into the National Electricity Market (NEM) in Australia. For perspective, that’s more than the power produced by Australia’s largest coal-fired power station, Origin Energy’s Eraring plant (2,880MW),… Read more »
The board of ASX-listed Genex Power Limited (ASX: GNX) have rejected a takeover bid by Altassian co-founder Scott Farquhar as undervaluing the business. Last Monday, after building up a 19.9% stake in Genex via a consortium controlled by Skip Capital, the family VC run by Farquhar’s wife Kim Jackson, in a partnership with US alternative… Read more »
Two months after Mike Cannon-Brookes made an audacious but ultimately doomed takeover bid for AGL, his Atlassian co-founder and co-billionaire Scott Farquhar is making his own energy play with a $320 million tilt at ASX-listed Genex Power Limited (ASX: GNX). Genex shares jumped as much as 50% on the news on Monday before closing 45%… Read more »
Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »
Atlassian co-founder Mike Cannon-Brookes has wasted no time in becoming an activist shareholder after taking an 11.3% stake in energy giant AGL. The billionaire launched a campaign with the slogan “Keep it together” to oppose AGL’s plans for a demerger, creating two separate ASX-listed companies, just hours after news emerged that he’d become AGL’s largest… Read more »
Tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest have ramped up their support for a $30 billion project to supply solar power from the Australia to Singapore, leading a $210 million Series B round into Sun Cable. Singapore-based Sun Cable’s $30 billion plan was first revealed in 2019, with Cannon-Brookes and Forrest as cornerstone… Read more »
AGL has rejected a revised takeover bid from Mike Cannon-Brookes and Brookfield The $8.25 a share bid was a 10% increase on their first bid two weeks ago and worth $5.5 billion Cannon-Brookes said their consortium won’t make a further bid AGL is planning a demerger that it says will offer better value Atlassian billionaire… Read more »
Bitcoin mining venture Arkon Energy has raised $2.6 million in a pre-seed round. The round was led by blockchain investment firm Kestrel0x1, alongside strategic investors, such as trade services and renewable energy products provider, Linked Group Services, as well as other angel investors. The startup is using the funds to scale its bitcoin mining operations… Read more »
A $5 billion consortium bid for AGL Energy, led by Atlassian billionaire Mike Cannon-Brookes through his private venture capital firm Grok Venture, has been rejected by ASX-listed energy company as undervaluing the business. Cannon-Brookes, who last year committed to investing $1 billion through Grok on climate change startups over the next decade, teamed up with… Read more »
The NSW tourism hotspot of Byron Bay is set become home to the nation’s largest Bitcoin mining operation following a deal to power the data centre using renewable energy. Nasdaq-listed digital infrastructure provider Mawson Infrastructure Group’s Byron 20MW mine – that’s enough power for around 6500 homes – will begin operations this week its first… Read more »
Green energy finance provider Brighte has raised $100 million to move into energy retailing. The $100 million round was led by Grok Ventures, the family investment company run by billionaire Annie Cannon-Brookes and her husband Mike. Founder & CEO Katherine McConnell said the fund will be used in three key areas: acquiring more solar households,… Read more »
IKEA Australia will install solar panels generating 1.2MW of electricity on the rooftop of its Adelaide store as it moves towards operating with 100% renewable energy by 2025. The project will create largest grid-connected commercial microgrid, connecting with the South Australian power network, and will be coupled with a 3.4MWh onsite battery – think around… Read more »
Stu Philpot is the CEO and Founder of UPowr, a digital platform set to disrupt the solar industry. An estimated 6 million Australian households are predicted to install solar in the coming years. This week UPowr launched a new digital platform the startup says will supercharge solar power sales to simplify the purchase process and… Read more »
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