<
https://reneweconomy.com.au/european-energy-giant-tips-millions-into-australian-shared-rooftop-solar-pioneer/>
"Australian shared rooftop solar pioneer, Allume, has raised a further $A10.2
million in support of its SolShare solution for apartments, including more than
$A8 million from the UK arm of European energy giant E.ON.
Allume switched on its first commercial shared solar system in May of 2018, at
a mixed residential and retail building in bayside Melbourne, and has not
looked back since, taking its solar ceiling-smashing technology around the
country and to booming overseas markets, including the US.
The latest UK-based fundraising round follows successful raisings of $2.2
million in 2019, $6 million in 2021 and $7 million in 2022, with backers
ranging from US investors Elemental Excelerator and the Schmidt Family
Foundation, to local investors Taronga, Trawalla and Mirvac.
In 2024 Allume also secured a $3.8 million grant from the federal government’s
Industry Growth Program, to help scale its local manufacturing.
Backed by incentive schemes in Victoria, New South Wales and the ACT, Allume
says its installation base is growing by 10% a month and its revenue is
forecast to more than double in calendar 2025.
The Melbourne-based company is on track for 10,000 apartments to be connected
globally by the end of the year.
“We’re seeing a huge acceleration in demand over the past couple of years,”
Allume CEO and co-founder Cameron Knox said this week.
“We are currently growing at 10% per month and expect to have connected over
10,000 apartments across Australia, the UK and the US by the end of this year.
“Our capital injection, led by E.ON UK, will enable us to further accelerate
this growth, whilst unlocking opportunities to expand our product offerings and
markets.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
