Business

US investment giant BlackRock makes a $1 billion battery play in Australia, acquiring Melbourne startup Akaysha Energy

- August 16, 2022 2 MIN READ

US investment firm BlackRock is acquiring local battery storage developer Akaysha Energy as part of a deal to spend A$1 billion to develop 1GW (Gigawatt) worth of storage feeding into the National Electricity Market (NEM) in Australia. For perspective, that’s more than the power produced by Australia’s largest coal-fired power station, Origin Energy’s Eraring plant (2,880MW),… Read more »

ASX

Genex Power rejects Atlassian founder’s $320 million takeover bid as undervaluing the renewable energy company

- August 1, 2022 2 MIN READ

The board of ASX-listed Genex Power Limited (ASX: GNX) have rejected a takeover bid by Altassian co-founder Scott Farquhar as undervaluing the business. Last Monday, after building up a 19.9% stake in Genex via a consortium controlled by Skip Capital, the family VC run by Farquhar’s wife Kim Jackson, in a partnership with US alternative… Read more »

Mike Cannon-Brookes
ASX

Mike Cannon-Brookes doesn’t rule out 3rd AGL takeover bid amid board seats push

- May 31, 2022 2 MIN READ

Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »

ASX

Mike Cannon-Brookes launches campaign against AGL’s demerger after Grok Ventures buys 11.3% of the energy giant

- May 2, 2022 2 MIN READ

Atlassian co-founder Mike Cannon-Brookes has wasted no time in becoming an activist shareholder after taking an 11.3% stake in energy giant AGL. The billionaire launched a campaign with the slogan “Keep it together” to oppose AGL’s plans for a demerger, creating two separate ASX-listed companies, just hours after news emerged that he’d become AGL’s largest… Read more »

5b solar panels
Funding

Cannon-Brookes, Twiggy Forrest double down on $30bn Sun Cable project in $210 million Series B

- March 14, 2022 2 MIN READ

Tech and mining billionaires Mike Cannon-Brookes and Dr Andrew Forrest have ramped up their support for a $30 billion project to supply solar power from the Australia to Singapore, leading a $210 billion Series B round into Sun Cable. Singapore-based Sun Cable’s $30 billion plan was first revealed in 2019, with Cannon-Brookes and Forrest as cornerstone… Read more »

Funding

Bitcoin mining startup Arkon Energy raises $2.6 million in pre-seed capital

- February 22, 2022 2 MIN READ

Bitcoin mining venture Arkon Energy has raised $2.6 million in a pre-seed round. The round was led by blockchain investment firm Kestrel0x1, alongside strategic investors, such as trade services and renewable energy products provider, Linked Group Services, as well as other angel investors. The startup is using the funds to scale its bitcoin mining operations… Read more »

Mike Cannon-Brookes
Other tech

A $5 billion takeover bid for AGL by Atlassian boss Mike Cannon-Brookes added $500 million to the power company’s market cap

- February 22, 2022 2 MIN READ

A $5 billion consortium bid for AGL Energy, led by Atlassian billionaire Mike Cannon-Brookes through his private venture capital firm Grok Venture, has been rejected by ASX-listed energy company as undervaluing the business. Cannon-Brookes, who last year committed to investing $1 billion through Grok on climate change startups over the next decade, teamed up with… Read more »

Byron Bay
Cryptocurrency

Bitcoin mining is coming to Byron Bay

- October 25, 2021 2 MIN READ

The NSW tourism hotspot of Byron Bay is set become home to the nation’s largest Bitcoin mining operation following a deal to power the data centre using renewable energy. Nasdaq-listed digital infrastructure provider Mawson Infrastructure Group’s Byron 20MW mine – that’s enough power for around 6500 homes – will begin operations this week its first… Read more »

Brighte
Funding

Grok Ventures backs Brighte in $100 million raise

- January 4, 2021 < 1 MIN READ

Green energy finance provider Brighte has raised $100 million to move into energy retailing. The $100 million round was led by Grok Ventures, the family investment company run by billionaire Annie Cannon-Brookes and her husband Mike. Founder & CEO Katherine McConnell said the fund will be used in three key areas: acquiring more solar households,… Read more »

Other tech

IKEA’s Adelaide store will be self-powered by 2025 as the retailer eyes a move into renewable energy generation and supply

- October 14, 2020 2 MIN READ

IKEA Australia will install solar panels generating 1.2MW of electricity on the rooftop of its Adelaide store as it moves towards operating with 100% renewable energy by 2025.  The project will create largest grid-connected commercial microgrid, connecting with the South Australian power network, and will be coupled with a 3.4MWh onsite battery – think around… Read more »

Nissan Leaf
Topics

Researchers are looking at turning electric vehicles into virtual power plants to create a ‘big battery’ on wheels

- July 21, 2020 2 MIN READ

Your electric car could be the solution to future blackouts at home, with researchers from The Australian National University (ANU) looking at how EVs can support the energy grid. The ANU researchers estimate that if all of Australia’s vehicles were electric they’d store enough power to equal five of the federal government’s $5.1 billion plan… Read more »