Virescent Ventures

Sharks, Planes & Lasers – Our Investment into MAKO

Virescent Ventures led MAKO's A$28 million Series A with IAG, Zero Infinity, Grok, Skip, IP Group and TreeArc; the Sydney maker of drag-cutting aircraft film works with Vueling, Delta and the US Air Force.

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DryFlow Magnetics: Investment Notes

Virescent Ventures announces it co-led DryFlow Magnetics' $10m seed round with Orion Industrial Ventures and Taronga Group, funding a demonstrator for the startup's dry ore-beneficiation technology.

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IND Technology: Investment Notes

Virescent Ventures announces it has invested in grid-tech firm IND Technology's inaugural institutional round, led by Energy Impact Partners and Angeleno Group, profiling the Melbourne company's early fault detection technology, founders and utility customers.

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NRN: Investment Notes

Virescent Ventures explains why it co-led NRN's Series A, profiling the Sydney company's no-upfront-cost solar and battery marketplace model and its two founders.

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Amber: Investment Notes

Virescent Ventures announces it has invested in Amber, an Australian retailer letting home battery owners buy and sell power at wholesale rates, citing its customer base and overseas utility partnerships.

Queensland Investment Corporation backs Virescent Ventures' new climate technology fund

Virescent Ventures says QIC has joined Westpac and the CEFC backing its second climate tech fund, with new commitments lifting the initial close to roughly $125 million toward a $200 million goal.

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Fireside Chat: Hysata – Defying hydrogen's hype cycle

Virescent Ventures partner Blair Pritchard reflects on Hysata, the Wollongong electrolyser spinout whose $172 million Series B he led, covering its technology, culture, customers and the green hydrogen market outlook.

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Xefco: Investment Notes

Virescent Ventures explains why it invested in Xefco, a Geelong startup whose plasma-based process dyes textiles with a fraction of the usual water, energy and chemicals, as part of a round with three co-investors.

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Virescent Ventures and UNSW to invest $1.6m in Australia’s most promising climate startups

Virescent Ventures and TRaCE will jointly back UNSW Founders' Climate 10x accelerator with $1.6m for local climate startups; successful applicants can get $120,000–$330,000 each, and expressions of interest open 12 April.

VCs make $200m bet that climate tech’s time has come

The VC firm's blog post recaps capital it has put into dozens of Australian climate startups and floats a second fund still at the planning stage, with nothing yet committed.

HydGene Renewables raises $6m in Seed funding for green hydrogen solution

Virescent Ventures' blog announces its seed backing of HydGene Renewables, an Australian startup whose biocatalyst process converts biomass and organic waste into green hydrogen, linking to the fuller announcement.

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Novalith Technologies Raises $23 Million In Series A Funding To Revolutionise Lithium Production

An A$23m Series A announced by lithium processor Novalith Technologies, a Virescent Ventures portfolio holding, will fund a plant extracting battery-grade lithium more cheaply, quickly and cleanly; the post links to the company's release.

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Relectrify achieves world-first certification for cell-level control in commercial battery product

Virescent Ventures reports that Relectrify, a company it backs, has won certification for its ReVolve battery storage product under international safety and grid connection standards, clearing it to supply customers.

Loam Bio raises $105m Series B to boost soil carbon sequestration

Soil-carbon startup Loam Bio has secured a A$105 million Series B and is bringing its CarbonBuilder inoculant and SecondCrop offerings to Australian growers, its backer Virescent Ventures reports.

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Samsara Eco banks $54m Series A funding to scale infinite recycling

Enzyme-based plastic recycler Samsara Eco has raised a $54 million Series A to build a commercial recycling facility in Melbourne, with investors including the CEFC Innovation Fund, W23, Main Sequence, Breakthrough Victoria and Temasek.

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SunDrive raises $21m Series A to supercharge solar panel efficiency and drive down costs

SunDrive has raised a Series A round co-led by the Clean Energy Finance Corporation and Main Sequence Ventures, with Blackbird and Grok also backing its copper-based solar cell technology.

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Lab-grown milk start-up raises $25m

Dairy alternative maker All G Foods has raised $25 million, led by UK-based Agronomics, to scale production of its lab-grown milk through precision fermentation.

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Hysata raises $42m after hydrogen breakthrough

Australian hydrogen technology company Hysata has raised over $40 million to fund expansion following a breakthrough in hydrogen development, per an AFR report linked from the publisher's site.

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Sharks on a plane! Sydney start-up plans to save airlines $61b a year

Virescent Ventures' post points to AFR reporting that MicroTau, a Sydney maker of drag-reducing aircraft skin films, has won backing from the Clean Energy Finance Corporation through Virescent-managed funds.

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Recycling start-up scores $6m for enzyme that eats plastic

Recycling startup Samsara Eco picked up $6 million from the CEFC, managed by Virescent Ventures, plus Woolworths' W23 and CSIRO's Main Sequence, to commercialise its enzyme-based plastic recycling.

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Hydrogen under $2 in reach as Hysata develops revolutionary process

Virescent Ventures' blog flags Hysata's ultra-efficient electrolyser as progress toward low-cost hydrogen; the Australian company's backer is CEFC, whose investments Virescent manages, with fuller coverage in the AFR.

Downforce Technologies draws investor support with innovative soil carbon solution

Soil carbon measurement startup Downforce Technologies closed a $3 million seed round backed by CEFC's Clean Energy Innovation Fund, Perivoli Innovations and Tiverton, with Australia as its first target market.

Clean Energy Finance Corporation spins off $200m private sector fund

A stub report noting the government-owned Clean Energy Finance Corporation is spinning out a specialist venture capital fund seeking $200 million for clean energy startups, linking to the full AFR coverage.

JET Charge raises $25m Series B, including $6m from CEFC (managed by Virescent Ventures)

An EV charging company has closed a Series B of over A$25 million led by RACV, with the CEFC's innovation fund, Claremont Capital and earlier individual backers taking part; its 2020 Series A is also recalled.

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CEFC congratulates Gridcognition on close of seed round at nearly $4m

Gridcognition closed a $2.25 million seed round, taking its total funding to almost $4 million. The CEFC put in $625,000, alongside Alberts Impact Ventures, Afterwork Ventures and several individual energy-sector investors.

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CEFC congratulates Zoomo on $80m raise

Electric delivery vehicle maker Zoomo has closed an oversubscribed Series B of US$60 million (A$80 million), led by new investor Grok Ventures with Skip Capital and ArcTern, plus follow-on from existing backers and a new debt facility.

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Using microbes to accelerate carbon removal – Loam Bio raises AUD $40m Series A

Australian microbial carbon-removal startup Loam Bio raised a $40 million Series A led by TIME Ventures, with CEFC, Main Sequence, Horizons Ventures and others joining; Virescent Ventures says it has invested $5.8 million.

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Novalith sets sights on global lithium industry with backing of the CEFC

Novalith raised a $2.5 million seed round backed by the CEFC's Clean Energy Innovation Fund and a Grantham trust vehicle, funding a Sydney pilot plant for its low-carbon lithium extraction technology.

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Wattwatchers continues global expansion

Kilara Capital has put $5.3 million into Wattwatchers' Series B, with the Clean Energy Finance Corporation also participating; the energy-data company will use the money to grow internationally and scale manufacturing.

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Australian made, low carbon and delicious: the All G Foods recipe for alternative proteins

All G Foods, a Sydney maker of alternative proteins, has secured $16m in seed funding, with $5m of it from the CEFC's Clean Energy Innovation Fund, and its burgers reach IGA shelves.

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Relectrify announces growth investment round

Battery control startup Relectrify has closed a growth round led by Energy Innovation Capital, with EEI, EDP and GS Futures joining and existing backers including the CEFC returning; an EIC director joins its board.

CEFC makes first hydrogen-related investment, alongside lead investor IP Group

Electrolyser developer Hysata has raised $5 million, led by IP Group with a $750,000 commitment from the CEFC through its Clean Energy Innovation Fund, to commercialise technology developed at the University of Wollongong.

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Tenacious Ventures closes first agrifood tech fund, oversubscribed at $35m

Tenacious Ventures closed its debut agrifood tech fund oversubscribed at A$35 million, after a March 2020 first close of just over $20 million backed by the CEFC's Clean Energy Innovation Fund and Grok Ventures.

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Electric bike maker Zoomo announces second round of funding

Australian e-bike firm Zoomo has announced a $16 million round led by AirTree, with the publisher investing a further $2.2 million, and has appointed four US industry figures to its advisory board.

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Relectrify launches uniquely affordable 120kWh – 2MWh commercial and industrial second-life battery product

Battery technology developer Relectrify has released its ReVolve second-life EV battery storage product for commercial and industrial customers, with rollout support from ARENA; the article also recalls CEFC's earlier investments in the company.

CEFC backs cattle and sheep farmers with technology to lift productivity and boost soil carbon

The Clean Energy Finance Corporation committed $5 million to livestock software firm AgriWebb within a larger capital raising led by TELUS Ventures, funding emissions-tracking tools; an earlier Loam Bio investment is also recalled.

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