• MGA Thermal

  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.

• Refilled

  Led · Seed · Nov 2023

  Refilled builds smart drink dispensers called Refiller that are designed for shared spaces (gyms, universities, offices) and work with reusable bottles to reduce single-use plastic. The machines serve still and sparkling drinks in hundreds of flavors and can add caffeine, vitamins and nootropics; they accept credit-card payments and track sales and CO2 levels in real time. Each Refiller stores roughly 100× more beverages than a traditional vending machine and a complete restock fits in a shoebox, reducing delivery cost and time. Early customers include Google’s Sydney office, University of Technology Sydney, University of Sydney, Aeona co-working space and The Sydney Green House Tech Hub. Refilled charges a small installation fee plus a monthly subscription of a few hundred dollars per machine (which covers restocking and maintenance); still water is free while flavored/caffeinated/sparkling drinks cost about A$1 each, and users can buy a Refilled+ subscription for discounted drinks. Since launching in August, Refilled says its dispensers have saved 25,000 plastic bottles and the company’s mission is to save one million bottles from landfill.

• Endua

  Participated · Equity · May 2023

  Endua develops modular, compact proton exchange membrane (PEM) electrolysers intended for on-site, decentralized hydrogen production. The company’s PEM architecture is designed to reduce dependence on imports and simplify deployment by minimizing site works, infrastructure and commissioning complexity. Endua targets sectors including transport, off-grid power generation and industrial gases, and highlights reduced logistics and storage costs as a benefit of on-site hydrogen production. The company is executing the Advanced Hydrogen Electrolyser for Australian Decarbonisation (AHEAD) project to scale local manufacturing and deployment. Endua says the funding will help build local expertise and strengthen supply chains to capture future growth in Australia and internationally. The business recently obtained $4.88M (AUD7.2M) in financial support via the Australian government’s Industry Growth Program. Endua builds stand‑alone, modular hydrogen power banks that use electrolyzers to split water, high‑pressure tanks to store hydrogen for months, and fuel cells to convert stored hydrogen back to electricity. Each module can drive power loads up to 100 kW, scalable to serve water pumps, farm sheds, telecom infrastructure and other remote loads. The systems are designed to integrate with existing solar and wind installations to capture excess energy and overcome intermittency. Founded in 2021 and based in Australia, Endua manufactures its products domestically and is establishing manufacturing facilities in Queensland. The company has received AU$11.8 million in new funding and will use the capital to scale pilot systems and hire over the next 18 months. Endua has also received a total of $4.3 million in grants, including the Entrepreneurs’ Programme Accelerating Commercialisation Grant, the Cooperative Research Centres Project and the Advanced Manufacturing Growth Centre Grant. Endua develops hydrogen-powered clean energy storage and modular power banks that use electrolysis to produce and store hydrogen for long-term, dispatchable renewable power. Its modular packs can run up to 150 kilowatts per pack and be extended to serve different use cases as an alternative to diesel generators; batteries are positioned as complementary backup. The core technology was developed at CSIRO and is being commercialized through Main Sequence's venture-science program, with Paul Sernia serving as CEO. Endua is backed by A$5 million in funding from Main Sequence, CSIRO and Ampol, which will also act as an industry partner. The startup plans to launch in Australia first, targeting industrial and off-grid diesel-generator users—regional communities, mines, remote infrastructure and farming applications—before expanding internationally and to smaller businesses and residences. Ampol will test and commercialize the technology to its roughly 80,000 B2B customers as part of its Future Energy and Decarbonisation Strategy.

No current team members are available.