Clean Energy Innovation Fund
The Clean Energy Innovation Fund is a specialist climate tech venture capital investor, drawing on CEFC finance and expertise to invest in innovative businesses helping to accelerate the transition to net zero emissions.
The transition to a net zero economy is creating enormous opportunities for new technologies, new business models and rapid innovation and commercialisation.
The Innovation Fund invests in companies with experienced and capable management teams, a competitive edge in technology and innovation, and the potential for both domestic and global market application of their technologies and solutions. It aligns these companies with climate tech investors, who are motivated by the positive environmental impact of climate tech innovation, as well as commercial potential and robust business fundamentals.
Innovation Fund investment priorities
The Innovation Fund is managed by Virescent Ventures on behalf of the CEFC. With no single solution to the complex challenge of economy-wide emissions reduction, Australia’s climate tech innovators and entrepreneurs are part of a global race to capitalise on the sustainable economy of the future. Opportunities exist across all areas of the economy, with the Innovation Fund prioritising activity across four high impact areas.
Low cost renewables, decentralised generation, widespread electrification
Multiple modes of transportation, optimised built environment, focus on embodied carbon
Supply chain redefined to feed more with less, enrich and build resilient soils
Efficient production, industrial improvements, reuse and recycle to address the waste crisis
The Innovation Fund is managed by Virescent Ventures, a specialist climate tech fund manager in which the CEFC has a 30 per cent shareholding. The decision to establish Virescent Ventures as an independent investment management firm allows the CEFC to catalyse and attract significantly more private sector investors into Australian climate tech. Virescent is pursuing a capital raise in the 2023–24 year, with a new Fund ll expected to be cornerstoned by the CEFC. Fund II will also target superannuation funds, institutional investors, large financial institutions and sophisticated wholesale investors. The goal of Fund II is to deploy a further $200 million or more into climate technologies over the next five years, complementing the focus of the Innovation Fund.
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2023 Australian Climate Tech Industry Report
The 2023 Australian Climate Tech Industry Report was developed by Climate Salad, an active network to boost climate tech companies in Australia. The CEFC was pleased to support the report.Read more
Our mission is to redefine the economics of green hydrogen production through our innovative proprietary electrolyser technology. The support of this international syndicate of clean energy practitioners and investors validates our core technology and our approach to scaling and mass manufacture.
At Morse Micro we’ve developed a new generation of Wi-Fi chips that are ultra-low power and reach 10 times further than conventional Wi-Fi, so that means we can cover 10 times the area or 1,000 times the volume of conventional Wi-Fi devices.
Our technology has the potential to significantly decarbonise the lithium supply chain as well as unlock new lithium ore reserves and opportunities, providing low cost and environmentally sustainable lithium to a world that is rapidly racing towards an electric future.
Instead of mining for fossil fuels to create new plastics or relying on current recycling methods which sees only about nine per cent actually recycled, we can take plastic that already exists and infinitely recycle it.
Carbon is difficult to store in soils in the long-term, it naturally reacts with oxygen or water and is released back into the atmosphere. Our technology aims to overcome this by storing the carbon in more stable forms.
Using data and insights from Downforce, landowners and institutions can optimise their decision-making and investments, confidently and efficiently measuring the benefits as they build natural capital and revenues.
Accelerating climate tech startups through Climate 10x
Read moreClimate change is the challenge and opportunity of our generation. We need to find, fund and champion a diverse range of solutions to meet the scale and urgency of the problem. The transition to net zero emissions impacts every part of the economy.Blair PritchardPartner, Virescent Ventures
Renewable Metals has cheaper, cleaner battery recycling in its sights
Read moreTo decarbonise quickly, the world needs cost-effective recycling solutions that maximise recovery for all types of lithium batteries (not just higher value ones with nickel and cobalt). We’re thrilled to be backed by the CEFC, Grantham and InvestibleLuan AtkinsonCEO, Renewable Metals
MicroTau is flying high with shark-skin inspired technology
Read moreAviation and shipping have a burning fuel problem that’s only getting worse. Over millions of years nature has developed solutions to improve efficiency, and now – with the backing of the CEFC – MicroTau will put shark skin inspired film on planes to help fight climate change.Henry BilinskyMicroTau CEO and founder
HydGene tech produces hydrogen from biomass waste
Read moreOur innovative technology not only paves the way for the growth and adoption of decentralised manufacturing hubs, but also plays a crucial role in the global transition to an affordable, green hydrogen economy.Dr Louise BrownCEO and Co-founder, HydGene Renewables
SunDrive technology supercharges solar
Read moreAustralia has arguably made the greatest scientific contribution to the development of solar technology, having invented the technology behind 90 per cent of all solar panels made worldwide. SunDrive is thrilled to now be working with Australia’s top deep tech and cleantech investors in developing next generational solar technologies.Vince AllenCo-founder and CEO, Sundrive
Plant powered: All G serves up delicious meals with plant proteins
Read moreWe have put together a science and technology team that is the best Australia and the world has to offer to ensure consumers get what they really want: a delicious, low-carbon and inclusive alternative to animal protein. We know our science combined with delicious recipes will change the trajectory of the alternative protein movement in Australia and around the world.Jan PacasFounder and CEO, All G Foods