Startup · $74.1m raised · Energy · Manufacturing
Hunter Valley, NSW
Programs: Shell (GameChanger startup accelerator fund)
Every investor coverage indicates participated in a round MGA Thermal raised.
| Investor | Rounds | Invested |
|---|---|---|
| IP Group Australia | Unnamed stage | - |
| Australian Government | Grant | - |
| Federal Government | Grant | - |
| Alberts | Series A | - |
| Chris Sang | Series A | - |
| CP Ventures | Series A | - |
| Emlyn Scott | Series A | - |
| Glenn Butcher | Series A | - |
| OP Ventures | Series A | - |
| Department of Industry and Science | Grant | $495,000 |
| Climate Salad | Unnamed stage · Bridge / extension | - |
| Electrifi Ventures | Unnamed stage · Bridge / extension | - |
| JEKARA | Unnamed stage · Bridge / extension | - |
| Shell | Accelerator · Grant | $560,000 |
| Pollination Group | Unnamed stage · Bridge / extension · Bridge / extension | - |
| Understorey Ventures | Unnamed stage · Bridge / extension · Bridge / extension | - |
| Varley Holdings | Unnamed stage · Bridge / extension · Bridge / extension | - |
| Climate Venture Capital Fund | Unnamed stage · Bridge / extension · Bridge / extension · Series A | - |
| Main Sequence Ventures | Unnamed stage · Bridge / extension · Bridge / extension · Series A | - |
| Melt Ventures | Unnamed stage · Bridge / extension · Bridge / extension · Series A | - |
| Australian Renewable Energy Agency (ARENA) | Grant · Unnamed stage · Grant · Grant · Series B · Grant | $9,950,000 |
Companies MGA Thermal acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming MGA Thermal. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Main Sequence explains its decision to back Facet Amtech again alongside Uniseed in a $3 million round, funding the startup's water-based ammonia catalyst work and its first pilot plant.
Also AgFunderNews·Dealroom
Thermal storage company MGA Thermal hires a former Shell Energy Australia executive as its commercial chief, with the appointment underpinned by a $17 million raise made earlier in the year.
ARENA is granting MGA Thermal as much as $3.25 million to conduct engineering design studies advancing its heat-storage blocks toward commercial deployment with industrial customers decarbonising process heat.
Also RenewEconomy
MGA Thermal, a Hunter Valley energy storage maker, has banked $17 million from IP Group and others to commercialise its heat-storage technology, lifting its total funding to $50 million.
Also mgathermal.com
Weekly roundup of four Australian funding rounds: thermal energy storage, litigation data software, preventative health, and construction site documentation, together worth $31.9 million.
Also Startup Daily
IP Group Australia led a $17 million investment in Hunter Valley thermal storage company MGA Thermal, with Shane Meaney joining the board alongside prior backer Main Sequence ahead of commercial rollout.
Also SmartCompany·SmartCompany·Startup Daily·Startup Daily·mgathermal.com·Startup Daily·mgathermal.com
MGA Thermal, a NSW-based thermal energy storage developer, has received a $3.25 million grant from ARENA to fund engineering design studies aimed at commercialising its block-based heat storage technology for industrial use.
Also RenewEconomy·RenewEconomy
Climate Salad's report says Australia's climate tech sector has passed 7,000 workers across 730 startups and drew $680 million in venture capital; Sea Forest's ASX debut and fund commitments point to investor appetite.
MGA Thermal has its 5 MWh Tomago pilot plant working again after an 18-month fix, and is seeking significant new capital to scale up production.
Chevron partners with NSW thermal-storage maker MGA Thermal on a FEED study toward a possible trial; the piece also recounts earlier raises from Main Sequence, ARENA, Melt Ventures, Jekara and Shell.
Chevron, MGA Thermal's first major customer, will run an engineering study of a five-megawatt-hour clean steam unit using the Newcastle company's thermal storage technology, with Anacapa as EPC partner; the budget is undisclosed.
MGA Thermal announces investment from climate-focused angel syndicate Electrifi Ventures, partnered with Climate Salad, joining ARENA's $2.5 million boost within its Pre-Series B round to advance industrial energy storage.
Also Startup Daily
Manufacturing roundup: Monash shares 3D-printing guidelines for blind students; MGA Thermal gains syndicate investment atop ARENA funding; UniSA touts a natural obesity treatment; Sparc Technologies signs an MoU with CLP Group.
Roundup of nine local startups that together banked a combined $38m-plus this week, spanning precision instruments, proptech, adtech, robotics, food, energy storage and AI, with several earlier raises recalled.
Also Australian FinTech·Startup Daily·SmartCompany·AgFunderNews
MGA Thermal's own newsroom post announces another $2.48 million from ARENA, tripling the federal agency's support for its thermal storage demonstration project, with quotes from both organisations' chief executives.
Also @AuManufacturing·RenewEconomy·SmartCompany·Startup Daily·Startup Daily
Investment firm Pollination has launched a $150m vehicle backing climate and nature start-ups, anchored by a cornerstone commitment from Queensland Investment Corporation, with first investments expected from late 2024.
Pollination has rolled out a $150 million fund for environmentally focused startups, anchored by Queensland Investment Corporation, and will begin picking companies late in 2024 across five sectors.
Weekly roundup detailing funding rounds by five Australian and New Zealand startups: a diversity analytics platform, a thermal energy storage maker, a carbon accounting service, an activated carbon producer, and legal communications software.
Thermal energy storage company MGA Thermal secured $5.7 million from Main Sequence, Melt Ventures and new backer JEKARA, taking its round near $14 million; Shell had earlier invested $560,000 through its GameChanger accelerator fund.
Also Startup Daily·mgathermal.com·RenewEconomy·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Startup Daily·@AuManufacturing·RenewEconomy·RenewEconomy
AuManufacturing briefs: Envirostream's LG recycling deal, Birdon's new harbour vessels, Vitrolife orders for Memphasys, Hazer's oversubscribed share plan, Cyclopharm's first US scans, an MGA job opening, Moderna fellowships and a UOW rover entry.
Alberts Impact Ventures introduces its new investment associate in a Q&A covering his prior role at an investment platform, his path into impact investing, and portfolio companies in health and climate.
Roundup of manufacturing news: Namoi Cotton agrees a takeover scheme with Louis Dreyfus, Bio-Gene receives an R&D tax payment, SPEE3D and NIOA appoint executives, and Cicada opens workshop applications.
Investor's own year in review: five new portfolio companies, a follow-on into ULUU, the Verve Super exit, the Equity Clear gender-reporting initiative, a first founders' retreat, and a sweep of awards for portfolio companies.
Also OIF Ventures portfolio·Alberts Impact Ventures portfolio·Alberts Impact Ventures portfolio·SmartCompany·Startup Daily·SmartCompany·Women's Agenda·Crunchbase News
Weekly roundup reporting eight Australian startups together raised $85.6 million across mining tech, cybersecurity, waste, energy storage, health and micromobility, plus a Google.org grant for Global Sisters.
Melt Ventures has closed a $10 million fund for hardware-focused climate tech and named its first investments, including Endua's $11.8 million pre-seed round backed by Melt, Main Sequence, QIC, 77 Partners and Ampol.
Also @AuManufacturing·SmartCompany·Startup Daily·Startup Daily·@AuManufacturing·mgathermal.com
Hardware-focused venture fund Melt Ventures has secured $10 million for its first fund, backed by new angel investors and family offices plus earlier supporters, and has already invested in three energy storage startups.
Feature on tech startups thriving outside Australian capitals, recording Cauldron's seed raise and government backing, with views from investors and founders at regional companies.
Weekly roundup covering four startup raises: DataMesh's bank-backed Series A, GigaComm's shareholder funding, Chronicle's presentation-tool round, and MGA Thermal's seed via Shell's accelerator.
A NSW thermal energy storage startup won roughly $560,000 from Shell's GameChanger accelerator for its Tomago pilot, which earlier drew $1.27 million from the federal renewable energy agency.
MGA Thermal won about US$400,000 (A$560,000) from Shell's GameChanger program to speed up its energy-storage demonstration plant near Newcastle, part of a pilot budgeted near A$3 million.
Manufacturing roundup: MGA Thermal's production milestone, Downer's Queensland train contract, a Nyrstar Hobart appointment, Cooperative Research Australia's NRF submission, and Anteris Technologies' $35 million share placement.
Melt Ventures launched an advanced manufacturing venture fund expecting first close soon and targeting $20 million by March 2023; the piece also recalls earlier backing of Camplify, Gamurs, Greaseboss and other companies.
The renewable energy agency announced backing for two storage projects: a feasibility study at AGL's Torrens Island station and conditional funding for Hydrostor's compressed air project at Broken Hill.
Also RenewEconomy
ARENA is giving MGA Thermal 1.27 million dollars to build a pilot thermal energy storage unit near Newcastle, demonstrating steam generation from stored heat for industrial and grid uses.
Also mgathermal.com·RenewEconomy·@AuManufacturing·SmartCompany·@AuManufacturing·@AuManufacturing·@AuManufacturing·RenewEconomy·mgathermal.com·@AuManufacturing·RenewEconomy·RenewEconomy
Thermal storage maker MGA Thermal has opened the first stage of its Newcastle manufacturing facility, with early output supporting a green hydrogen partnership backed by a federal government grant.
Also mgathermal.com
Techboard's roundup lists August 2021 Australian funding events, including raises by TechLend, v2food, Hireup and others, Fresh Equities' CEO-backed investment, and Five V Capital's $50m stake purchase in Penten.
Alberts Impact Ventures announces backing thermal storage startup MGA Thermal's $8 million Series A, led by Main Sequence Ventures with CP Ventures, New Zealand's Climate Venture Capital fund and The Melt participating.
Also TechCrunch Australia·RenewEconomy·@AuManufacturing·Startup Daily·Techboard·RenewEconomy·@AuManufacturing·@AuManufacturing·@AuManufacturing·RenewEconomy·RenewEconomy
Newcastle academics explain their miscibility gap alloy heat-storage blocks, describe a federal grant funding pilot manufacturing, and outline a Swiss partnership to trial the technology inside retrofitted coal power stations.
Also @AuManufacturing