Climate tech energy startup Phnxx powers up on $1.8 million Seed round

Victorian climate tech startup Phnxx has raised $1.8 million in Seed funding to scale its modular energy system for the construction, mining and agriculture sectors.

The round was supported by ASX-listed engineering company Synertec, ENGIE Factory, deep tech VC Pacific Channel, LaunchVic’s Hugh Victor McKay Fund and several angel investors. 

Synertec has partnered with the Melbourne startup to boost its sales efforts while also expanding 29-year-old Victorian engineering company’s market reach.  

Phnxx’s modular product consists of a containerised battery and solar solution that can be operational within hours or days, offering power that’s 34 times cleaner than diesel generators and 5 times cheaper.

In the next three month, the startup plans to launch its first grid-in-a-box systems for existing customers in Singapore and Malaysia, having completed a successful pilot program in Australia.

The system is designed to assist remote and rural industrial communities, especially dairy farms, and the startup has developed a US$20 million sales pipeline.

Tay, the CEO, said they’re focused on their Asian roll out and the climate impact it will have.

“We’re on track to abate 100Mt of carbon emissions by 2035, driving significant global impact and reducing industry’s environmental footprints,” he said.

Synertec MD Michael Carroll said the investment gives the company exposure to market sectors it would not otherwise have.

“By working together, we will leverage Phnxx’s manufacturing expertise and target market while supporting their vision with our engineering and  commercialisation experience,” he said.

Pacific Channel associate director Dr Ashwath  Sundaresan said the startup has developed scalable solutions that addresses both a large decarbonisation challenge and delivers tangible economic benefits.

Driven by a passionate team with significant operating experience in the renewable energy sector, we’re thrilled  to be supporting a company that is not only tackling one of the world’s most pressing issues but also creating commercially viable, impactful solutions for a sustainable future,” he said.