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Australia’s government provides backing for energy startups

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The Australian government has injected $480,000 in funding to support clean energy entrepreneurs. 

The funding has been issued through the Australian Renewable Energy Agency (ARENA) to support startups participating in a programme managed by EnergyLab Australia over the next 12 months.

James Tilbury, the CEO of EnergyLab, said: “This funding allows us to launch a Scale-Up Programme to provide the best late-stage energy startups with the support they need to reach their full potential.”

ARENA CEO Darren Miller adds: “Startups and entrepreneurs play an important role in accelerating the uptake of clean energy solutions, however, they can also face challenges in reaching scale and aren’t equipped to overcome hurdles such as high capital requirements, geographic constraints and revenue delay.

“EnergyLab, through mentoring and supporting startups, will help us to see an increase in expertise, skills and capacity in the renewable energy technology sector and identify pathways to commercialisation to keep Australia at the forefront of renewable energy innovation.”

EnergyLab Australia has helped more than 80 startups since 2017.

Originally posted on Power Engineering International.

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