Future-proofing energy networks with EcoJoule Energy
Technology boosts distributed energy generation potential
The CEFC is backing EcoJoule Energy to increase the deployment of its innovative technology solutions that help manage the impact of rooftop solar, battery storage and electric vehicles on energy networks.
$3 million
CEFC commitment
Dynamic
grid management
Market-leading
technology
The EcoJoule technologies address a key challenge in Australia’s transition to net zero by enhancing grid reliability and capacity for distributed generation.Malcolm ThorntonHead of Growth Capital, CEFC
Our investment
The CEFC has committed $3 million via the Powering Australia Technology Fund (PATF) to EcoJoule Energy as part of a $15 million capital raise to scale up the fast-growing technology business.
EcoJoule provides unique solutions that help network operators manage the shift away from a one-way electricity system to a dynamic, decentralised grid working with rooftop solar and EV chargers. EcoJoule customers include Endeavour Energy, Essential Energy, Ausgrid and Ausnet Services.
EcoJoule technology to optimise energy management across low-voltage networks consists of:
- The EcoVAR product that uses proprietary software and electronics to synchronise power across networks and correct grid voltage fluctuations
- The EcoSTORE battery technology that reduces further pressure on the grid by storing excess energy generated during the day, releasing it when needed to improve grid power quality for consumers.
We’re a proud Queensland business, but our ambitions are global. In the next few years, we aim to expand internationally where we see major opportunities in the UK, Europe, Southeast Asia, and South America.Dr Mike WishartFounder and CEO, EcoJoule
OUR IMPACT
Scaling up technologies to accelerate the net zero transition
The transition to net zero emissions is changing the landscape of Australia’s electricity network and the way that energy is produced and distributed.
The rapid growth of distributed energy resources (DER), including rooftop solar, battery storage and electric vehicles, is introducing challenges for Australian electricity networks not designed to accommodate bidirectional power flows and voltage variability.
The CEFC is seeking to accelerate the integration of increased DER through finance for climate tech companies that offer ways to support customers, networks and network operators.
Previous investments include commitments to Gridcog, Intellihub and GreenSync.
Growth capital for market-leading climate tech
The growth capital investment strategy of the $500 million PATF supports market-leading technology providers to scale up their solutions to accelerate Australia’s transition to net zero emissions.
PATF invests directly in climate tech businesses and indirectly, via funds managed by private equity, venture capital, and other specialist fund managers, who invest in Australian climate tech businesses. These climate tech businesses are driving the development, commercialisation or take-up of clean energy technologies.
Learn more about PATF.
