Climate tech accelerator EnergyLab has singled out 13 startups for its new Climate Tech Charge program, offering them 12 months of support to help them make it through the current investor downturn.
The Charge program provides critical support for early-stage founders contributing to decarbonisation amidst a challenging economic environment where VC funding in Australia substantially slowed down in the first half of 2023, following on from a 30% decline in investment for climate tech startups last year.
EnergyLab CEO Megan Fisher said they designed 12-month program to help founders traverse the ‘valley of death’, bridging the gap between developing their minimum viable product and growing their customer base and building market traction.
“This ‘always-on’ program offers founders the time and flexibility to set and achieve ambitious growth goals, network with like-minded founders and investors and a space to test, iterate and develop their product and growth strategy grounded by consistent support, feedback and expert advice along the way,” she said.
This program is open to applications year-round, with new founders joining monthly and offers expert information sessions, mentoring, networking, access to professional services and connections with investors to explore funding opportunities.
“From our experience screening hundreds of startup applications for EnergyLab’s Accelerator we’ve developed a robust understanding of where common gaps exist in startups’ readiness,” Fisher said.
“The Charge Program has been designed with these lessons in mind to support startups to become accelerator-ready.”
However, funding remains a concern for many in the sector and the EnergyLab CEO hopes the organisation’s 160-strong climate-focused angel investor network can be part of the solution to help these startups succeed.
“In 2022 across the globe we fell woefully short of the year on year decarbonisation target to limit global warming to 1.5 degrees,” Fisher said.
“We must continue the adoption of existing low emissions technology, but we also need new ideas to help us really ramp up the roll out. Supporting more early-stage climate tech focused startups will build a pipeline of solutions to support in reaching our Net Zero targets.”
The inaugural cohort spans clean energy, carbon removal, energy data, transportation and waste to support the circular economy and clean energy transition.
The companies chosen are:
Adaptive Hydrogen, which is helping to reduce the cost of green hydrogen through intelligent control.
Brownee, which is building an ecosystem that empowers SMEs to be more successful by becoming more sustainable.
C2Zero, which enables businesses and individuals to stop big polluters from polluting by locking away their (regulated and finite) Emissions Allowances.
RealCarbonIndex, which is the world’s first family of indexes and analytics tracking global compliance carbon prices.
Cactii, which brings a unique integrated perspective to renewable energy by focusing on both generation and storage, and on making energy use more efficient through a high level of system integration.
Change Beetle, which specialises in creating optimisation software for offshore projects and is developing a world-leading solution for offshore wind.
Cyclion Energy has developed cutting-edge technology that solves complex plastic and biomass waste treatment issues thanks to our ‘green chemistry’ that turns your general rubbish into fuel and energy for everyday use.
Equoia, which is a B2B rental electrification solutions company on a mission to accelerate sustainability within the film and television industry and reduce CO2e generated by screen production with clean mobile power.
Negawatts.io, which is a high-impact platform that empowers companies to optimise energy and resources, exceeding NetZero goals to cool our biosphere.
Outbound, which is revolutionising real estate and transportation with electric car club amenities, offering an all-digital carsharing experience to seamlessly integrate communal electric vehicles in residential, commercial and hotel properties.
Retragreen, which is an innovative energy efficiency software provider committed to helping businesses lower electricity expenses and improve sustainability through cutting-edge solutions.
Reynard Wood, which is building materials made from industrial tailings and waste for environmental benefit.
Smartizer,which is reinventing residential energy storage systems, distinguished by exceptional modularity and flexibility, low CAPEX, and fast ROI.
SolvingZero, which uses energy data to provide actionable insights on lowering energy costs and optimising homes.