Sydney, May 23: Australian clean energy company, Endua, has secured $11.8 million in funding as it prepares to scale new hydrogen generation and storage technologies that can deliver affordable and reliable renewable energy to power communities, remote industries and off-grid infrastructure.
Contributing a combined $7.5 million in pre-series funding, among the new investors supporting Endua’s vision and commercialisation are Queensland Investment Corporation (QIC), Melt Ventures and 77 Partners.
Other returning strategic co-investors include the deep tech fund founded by CSIRO, Main Sequence; and the country’s largest transport energy provider, Ampol.
The pre-series capital is in addition to the $4.3 million in grants Endua has received, including the Entrepreneurs’ Programme Accelerating Commercialisation Grant and the Cooperative Research Centres Project (CRC-P) provided by AusIndustry, as well as the Advanced Manufacturing Growth Centre Grant (AMGC) provided by the Advanced Manufacturing Growth Centre Ltd.
“Clean hydrogen will play a crucial role in our transition to renewable energy, but only with the right technology and business models to make it cost-effective. Our solution will allow off-grid industries like agriculture, water and energy utilities and remote infrastructure to run sustainable power any time of day, regional communities to become self-sufficient, and businesses to have more options to source the power they need,” Paul Sernia, CEO and Founder of Endua said.
Endua is focused on the microgrid and standalone power markets, particularly where off-grid diesel power is widely used. Its versatile technology will make it possible for regional communities, towns and industries like farming and agriculture, telecommunications infrastructure, energy distributors and remote infrastructure to become self-sustaining.
“The global transition to modern energy sources presents new and difficult challenges.
“There are places and situations where renewable sources can’t be relied on all of the time.
“To truly achieve emissions reduction ambitions, we need power that is renewable and available at any time.
“We’ll use our latest investment to turbocharge Endua’s role in providing a solution that tackles multi-day energy resilience, especially for industries like communications, water and energy services, agriculture and farming, and resources which have huge opportunities for emissions reduction,” Sernia added.
The Brisbane-based company launched in 2021 has developed a new approach to storing renewable energy, with its modular hydrogen power banks that can drive power loads of up to 100kW in a single module — enough to power a water pump, farm shed or standalone telecom infrastructure. T
his renewable energy is stored as hydrogen and then converted back to electricity by fuel cells, while the modularity allows for solutions to be scaled according to on-site needs.
“Ampol’s work with Endua is part of our broader strategy to build new energy solutions that can support our customers with energy transition.
“Endua’s technology lays the foundation for off-grid and diesel energy users to meet decarbonisation commitments and become self-sustaining.
“We look forward to working with customers as the technology is scaled to further explore applications across our economy,” Matthew Halliday, Ampol Managing Director said.
Welcome to dailystraits.com. Please send all interview requests and press releases to firstname.lastname@example.org.