Australian clean energy company Endua has recently secured $11.8 million in funding to propel the development and scaling of its innovative hydrogen generation and storage technologies.
With the aim of delivering affordable and reliable renewable energy to power communities, remote industries, and off-grid infrastructure, Endua’s breakthrough solutions have attracted significant support from new and returning investors.
Among the contributors to Endua’s pre-series funding round, Queensland Investment Corporation (QIC), Melt Ventures, and 77 Partners have collectively invested $7.5 million. Strategic co-investors, including the deep tech fund Main Sequence founded by CSIRO and Ampol, Australia’s largest transport energy provider, have also reaffirmed their commitment to Endua’s vision and commercialization.
Paul Sernia, CEO and Founder of Endua, emphasized the crucial role clean hydrogen will play in the transition to renewable energy. However, he stressed the necessity of developing the right technology and business models to make it cost-effective. Endua’s solution aims to empower off-grid industries such as agriculture, water and energy utilities, and remote infrastructure to access sustainable power at any time. Additionally, it seeks to enable regional communities to become self-sufficient and businesses to diversify their power sources.
Sernia acknowledged the challenges associated with the global transition to modern energy sources, particularly in areas where renewable sources may not be consistently reliable. To achieve ambitious emissions reduction goals, he highlighted the importance of renewable power that is available around the clock. Endua’s latest investment will further bolster its efforts to address multi-day energy resilience, particularly benefiting industries such as communications, water and energy services, agriculture, farming, and resources, all of which have significant potential for emissions reduction.
In addition to the pre-series capital, Endua has secured $4.3 million in grants. These include the entrepreneurs’ program accelerating commercialization grant, the cooperative research centers project (CRC-P) provided by AusIndustry, and the advanced manufacturing growth center grant (AMGC) provided by the Advanced Manufacturing Growth Centre. With a specific focus on the microgrid and standalone power markets, particularly where off-grid diesel power is prevalent, Endua’s technology aims to enable regional communities, towns, and industries to achieve self-sustainability.
As Endua advances its hydrogen generation and storage technologies, the company holds the potential to revolutionize the way renewable energy is harnessed and utilized in off-grid environments. By providing reliable and sustainable power solutions, Endua can contribute significantly to reducing emissions, enhancing energy resilience, and driving the transition to a cleaner and more sustainable future.