Led · Grant · Jun 2026

Sicona develops silicon-carbon (SiCx) anode materials designed to increase lithium-ion battery energy density by more than 20% and enable charging speeds over 40% faster than conventional graphite, while remaining compatible with existing battery production lines. The company is targeting markets including electric vehicles, AI data centres, power tools, defense, robotics, and other high-performance battery applications. Sicona plans to validate its process at a Wollongong facility that will produce up to 230 tonnes per year for customer qualification and commercial sales, and has longer-term plans for a 6,500-tonne-per-year commercial plant with expansion potential to 26,500 tonnes per year. The ARENA grant will fund construction and operation of the initial commercial-scale facility and support workforce development and local industry partnerships. Sicona entered a May 2025 licensing and strategic partnership with Himadri that included an AU$17.5 million follow-on investment, demonstrating recent capital and commercial progress.

Participated · Equity · Mar 2026

MGA Thermal has developed Miscibility Gaps Alloy (MGA) Blocks that store thermal energy generated from renewable electricity and release it as industrial heat. The company is transitioning from pilot deployments toward full commercial rollout and plans to scale manufacturing and expand commercial operations. CEO Mark Croudace described the company as entering a period of rapid scale‑up focused on staffing, manufacturing growth and delivering customer projects. MGA Thermal is headquartered in the Hunter Valley. Financially, the business has now raised about $50 million in total capital, including a $14.15 million pre‑Series B round in 2024 and a $17 million financing led by IP Group Australia. The company positions its technology as a solution for reliable, low‑cost, industrial‑scale thermal storage to support decarbonization of industrial heat.

Led · Grant · Nov 2025

Calix focuses on industrial decarbonisation technologies, and its flagship Zesty process combines electrically powered kilns with hydrogen reduction to create low-carbon iron and, ultimately, steel. The technology is designed to work with the Pilbara region’s lower-grade iron ore, potentially opening a massive resource base to green steelmaking. Calix’s next milestone is the construction of a demonstration plant in Western Australia under a joint development agreement with Rio Tinto. The plant will showcase commercial-scale Zesty operation and validate cost and emissions targets. To finance this, Calix secured staged funding commitments from Rio Tinto alongside a large grant from the Australian Renewable Energy Agency (ARENA). These non-dilutive and strategic funds give Calix the capital to advance toward pilot production without revealing any current revenue or customer metrics. Longer term, the firm aims to license or partner its Zesty technology across the global steel value chain.

Led · Equity · Nov 2025

SunDrive Solar is an Australian PV-cell technology startup that replaces expensive silver contacts with copper in heterojunction silicon solar cells, lowering material costs while preserving or improving electrical performance. Its proprietary copper metallization process deposits copper directly onto silicon wafers, tackling one of the largest cost drivers in solar-cell manufacturing. The company is now moving from laboratory R&D to pilot-scale and eventual commercial production, backed by strategic partnerships with Chinese manufacturers and a manufacturing joint venture with Trina Solar. Recent organisational changes, including targeted job cuts, reflect its shift toward core technology development and scaled manufacturing collaborations. Financially, SunDrive has relied on government and strategic funding rather than disclosed revenues; it previously received AU$11 million from ARENA and has now secured a further AU$25.3 million to industrialise its process. The new capital will fund pilot facilities, equipment purchases, process optimisation, and workforce development needed to demonstrate commercial viability. By focusing on domestic manufacturing capability, the company aligns with Australia’s goal of reducing reliance on imported photovoltaic components.

Led · Equity · Jul 2024

PV Lighthouse develops SunSolve Yield, a 3D digital-twin software that models structures and PV modules to calculate annual yield and assess impacts of weather, location, and mounting structures. The product uses a physics-based optical engine that traces back to SunSolve Power and has been employed by module manufacturers such as LONGi and Qcells and tracker makers including Nevados and Nextracker. SunSolve Yield lets developers investigate project issues that previously took months to probe and days to compute, which can accelerate delivery of utility-scale projects. The company plans to expand its team with new researchers and programmers using the ARENA funding to bolster forecasting accuracy over the next three years. PV Lighthouse aims for broad adoption on systems greater than 100 MW and for use by major developers in Australia and internationally. The company’s current financing news is AU$1.97 million (US$1.32 million) in ARENA support to accelerate software development.