Skip to main content
Lifestyle Image Of Inverter
Case study

Redback develops game-changing solar technologies to drive down energy costs

Supporting innovation to accelerate the development of renewables

Queensland based Redback Technologies has developed a Smart Hybrid System that optimises solar generation, storage and management of energy for households and businesses. Redback's system uses machine learning to predict solar generation and customer usage. It then makes intelligent decisions to optimise energy usage, driving down energy costs for end users and reducing fossil fuel reliance.

$6.42m

CEFC investment

Lower

energy costs

Reduced

emissions

This investment will enable us to further develop our next-generation energy intelligence platform and devices and further cement our vision to ensure Australian households and businesses are entirely powered by renewables.
Philip Livingston
Founder and Board Member, Redback Technologies

Our investment

The Clean Energy Innovation Fund – which uses finance from the CEFC to invest in innovative clean energy companies and projects – has committed US$5 million to Redback. The CEFC equity investment is part of Redback's US$7 million Series A-2 capital raising round, which has also secured a US$2 million investment from Right Click Capital. 

our impact 

The investment will allow Redback to expand its research and development capabilities, accelerate development of its smart software suite and strengthen its technical and professional workforce by over 30 full-time employees. It will also enable Redback to further develop its next-generation energy intelligence platform and devices and further cement its vision to ensure Australian households and businesses are entirely powered by renewables.

Redback's Generation 2 Smart Hybrid System is being offered to Energy Australia's 1.7 million customers in Victoria, NSW, Queensland, the ACT and South Australia. Redback's software also enables systems to be aggregated to form a virtual power plant, to provide grid services and support increased integration of renewables into the grid.

Learn more about the Clean Energy Innovation Fund

Learn more about Redback Technologies

read our insight

Australia’s leading cleantech investor

The Innovation Fund has made a substantial impact in a short period of time, investing in innovative companies which are capitalising on exciting new cleantech opportunities to help lower our emissions.

Read more
Last updated 12 October 2017. National, Innovation Fund, Renewable energy