Australia support RE startups with $1.1m funding

This fund will support the project of EnergyLab for startup companies.

The Australian government will be providing around $1.1m (A$1.64m) grant to support renewable energy startups in the country through Sydney-based not-for-profit firm EnergyLab.

In a statement, the Australian Renewable Energy Agency (ARENA) said the funding “aims to address the gap in support available to early-stage clean energy startups.”

The funding will support EnergyLab’s “Entrepreneurial Support for the Cleantech Startup Ecosystem” project.

ALSO READ: What Australia needs to boost large-scale renewable energy projects

This will enable the company to continue providing various services for another four years duration of the project which include co-working office facilities, and information sharing and networking events.

“Startups represent the future of renewable energy, taking the ideas and technologies that will get us to net zero, harnessing entrepreneurial spirit and bringing them to market,” said ARENA CEO Darren Miller.

$1 = A$1.49