Six innovative companies joined the accelerator program in February 2020.
EnergyLab's seventh accelerator intake of clean energy startups started in a pre-COVID-19 world back in February 2020. The six Australian companies selected are currently going through their nine months' worth of business coaching, mentoring and coaching to unlock three key milestones: launch their business, secure their first sales and raise capital to grow.
"We strongly believe the companies that will benefit from this funding, from our accelerator to new scaleup program, will play an important role in helping us move beyond the current economic crisis. Now, more than ever, we need to support startups and entrepreneurs, and ARENA's support will enable us to do this." Said James Tilbury, CEO of EnergyLab
ARENA's backing comes at a critical time for the energy sector and the accelerator:
"We know the ongoing challenges in Australia's energy sector are not going to disappear unless we back companies that are developing innovative solutions to transition the country, and the world, to a clean energy future. We are excited by this new cohort joining our accelerator and think the companies we have selected are well-positioned to deliver value throughout this difficult economic context. Our role at EnergyLab will be to guide them to ensure they grow and come out of this crisis stronger and ready to scale."
The use of software and data to deliver sustainable outcomes
A commonality for the startups selected nationally this year is the use of software and data to deliver sustainable outcomes. The startup Exergenics, for instance, leverages machine learning techniques to offer its building optimisation software specialising in heating, ventilation, and air conditioning control strategies. The Sydney-based duo Fasade looks to use software to help businesses reduce the cost and carbon footprint of their data warehousing and management activities. Finally, the Brisbane-based startup Snowater uses proprietary software to allow renters to access solar energy and property owners to monetize their solar panels.
"Snowater applied to the EnergyLab program to critically test and drastically scale our clean energy technology platform. As a part of the program, we expect to strengthen our commercial competitiveness and capacity for scalable nationwide deployments. Snowater has already met with a number of large scale national clients and is currently competing in several tenders for several hundred commercial deployments. EnergyLab has been incredibly supportive in this process." Says Chad Hardy, Director of Snowater
For other startups in the cohort, the accelerator program will be used to strengthen their customer-facing proposition and acquire more customers and partners such as Elektra-phi, adopting a marketplace model to allow clean energy providers and their customers to find each other.
"We have the diverse background we need, to build a successful business. One of our primary objectives through this program is to build meaningful connections with key energy industry leaders who can champion our cause and guide our path. We feel a great sense of momentum building around our team and our mission. Our CEO, Michelle Caterson has already secured our first international investment. We see our platform as a way to provide a marketplace for these new and evolving technologies." Said Patrick Woodcraft, Head of Marketing at EcoPower Market.
The Good Car Company, already very successful in providing Tasmanian customers with cheaper electric vehicles will be launching their services nationally:
"The Good Car Company is already decarbonising transport by providing affordable electric vehicles to communities in Tasmania. The program will give us the opportunity to deliver electric cars in mainland Australia and access financial models to make Electric Cars available to more people. We are excited to work with the experienced energy, legal and financial insiders at Energylab to help our business multiply." said Anton Vikstrom, Co-founder of The Good Car Company.
A range of additional support will be offered throughout the program, including access to EnergyLab's national network of over 250 mentors, accounting assistance delivered by KPMG and legal advice from Aperion Law, and strategy sessions with EnergyLab's Chief Entrepreneur Piers Grove.
The 6 companies in the 2020 EnergyLab Accelerator program are:
- EcoPower Market: Marketplace for Clean energy providers and their customers to find each other.
- Exergenics: Exergenics creates software that reduces the running cost and environment impacts of commercial air conditioning and refrigeration systems.
- Fasade: Take charge of going green and reduce your business costs with simpler, more intelligent data management.
- PVMaster: We provide asset management and power forecast services for renewable power generation and integration, which makes renewable more predictable, manageable and profitable.
- Snowater: Brings property owners, tenants and finance together to overcome barriers to the uptake of clean energy generation and energy efficiency technologies.
- The Good Car Company: Affordable Electric Vehicles.