Brinc is partnering with Artesian to invest in the next generation of Australian Clean Energy startups who are building technology solutions to address Australia’s pressing energy efficiency, optimisation, and emission challenges for industrial applications.
Brinc is launching an Australia Clean Energy Accelerator Program in Sydney. Partnering with Artesian, Brinc is looking to invest in the next generation of Australian Clean Energy startups who are building technology solutions to address Australia’s pressing energy efficiency, optimisation, and emission challenges for industrial applications.
The program will offer $260,000 AUD in exchange for equity. The offer is a combination of cash ($150,000) and support through the program and post-program ($110,000). The program will focus on facilitating commercial agreements with Australian Energy companies to help scope and secure pilots/POCs, while also opening up growth opportunities locally and internationally for companies. Upon completion of the program, Brinc will continue to support company growth through business development, provide capital raising guidance, and ensure a deep connection to the growing Brinc family of founders globally. Artesian will also provide follow on capital to companies that demonstrate traction. Beyond this, companies can benefit from Brinc’s Services division in China to source components, identify relevant factories, and set up robust supply chains required to fulfil orders to their customers.
The accelerator program will be supported by Artesian’s Clean Energy Seed Fund which aims to invest in scalable, high growth startups, encouraging innovation, and creating opportunities in the development of clean technology. Artesian’s fund bridges the gap between government, corporates, institutions, NFPs and other late-stage clean energy investors and the clean energy startups that are providing solutions in this sector. Through the program, Artesian hopes to contribute to and help grow the dynamic clean energy startup ecosystem in Australia. Artesian also currently backs Brinc’s Greater Bay Area (Hong Kong & Mainland China) accelerator programs and together have invested in 57 startups.
According to Kane Thornton, the Chief Executive of the Clean Energy Council in Australia, “The vision of an Australia powered by clean energy is now well and truly in sight”. Investments in the sector doubled to more than $20 billion in 2018 and 87 large-scale renewable projects were under construction or financially committed at the beginning of 2019. Although 21% of total electricity generation is already from renewable resources, he claims that there is much more to be done in “improving the grid and energy market and how it integrates renewable energy and energy storage”.
Additionally, Australia’s natural climate and landscape are highly conducive for Clean Energy technology testing and implementation. The region has more solar potential than any other developed nation as over 2 million Australian households have solar rooftops. In 2018, an average of six solar panels were installed per minute in Australia. They also have huge onshore and offshore wind resources and an opportunity to replace aging coal-fired power stations that generate two-thirds of the country’s energy.
Brinc and Artesian have embraced this opportunity at the right time to help encourage this growth in Australia with the help of strong policy support at various levels of government.
Brinc’s portfolio includes 110 startups with a total cumulative value of over $250 Million USD. In addition to the Clean Energy accelerator program, Brinc runs eight other programs focused on Hardware & IoT, Manufacturing, Food Technology, and Alternative Protein. Additionally, Brinc launched a Greater Bay Area Clean Energy program in 2019, where two startups from their first cohort are working on commercial pilots with Schneider Electric.