06 May 2026, Seoul, South Korea — New Energy Nexus (NEX) and the Asan Nanum Foundation (ANF) today announced a new partnership to support early-stage climate tech entrepreneurs in South Korea through Asan UniverCT, a program designed to help young founders turn technical innovation into scalable businesses.

The collaboration brings together ANF’s leadership in South Korea’s startup ecosystem with NEX’s global experience supporting clean energy entrepreneurs. Together, they will equip a new cohort of founders with the tools, networks, and support needed to build and scale globally in a rapidly changing energy and climate landscape.

“South Korea has no shortage of brilliant people working on climate solutions, but what early-stage founders often need most is connection: to experienced mentors, to global markets, and to a community that believes in what they’re building. We’re genuinely excited to be part of UniverCT, and to help bring the best of our global network to South Korean university founders who are ready to take on the world,” said Andrew Chang, CEO at New Energy Nexus.

“Climate change is one of the defining challenges facing this generation, and young entrepreneurs have a critical role in responding to it.

With Asan UniverCT, we are helping founders move from lab to business, and from scientist to entrepreneur—building practical solutions with real-world impact.

Working with New Energy Nexus, as its first Korean partner, strengthens that effort by connecting Korean entrepreneurs to global experience, partnerships, and opportunities for growth,” said Eom Yoon-mi, Chairperson of The Asan Nanum Foundation.

The partnership comes at a time when energy price volatility and wider geopolitical shocks are underscoring the risks of continued dependence on fossil fuels. As countries look for more secure, affordable, and resilient energy systems, climate tech startups have an increasingly important role to play in building practical alternatives.

South Korea, with its world-class research institutions and deep engineering talent, is well-placed to be part of the solution. Yet climate tech startups remain a nascent segment of the country’s innovation ecosystem, representing approximately 5% of total startup investment between 2015 and 2024, with most funding concentrated at the earliest stages. Asan UniverCT is designed to meet this moment: connecting South Korean founders to the global networks and capital they need to grow.

Through the partnership, NEX will bring its global mentorship infrastructure, expert matching, and international network to support 15 climate tech startups over a seven-month program. Founders will connect directly with experienced climate tech mentors and investors from around the world.

Participants will receive a ₩10M grant for prototyping and global market validation, alongside tailored mentoring and workshops on business strategy, fundraising, and global market entry. Selected teams will have the opportunity to pitch at Climate Week NYC, with top performers advancing to the Chung Ju-yung Startup Competition, which offers a ₩120M (approximately US$81,000) prize pool.

For more information and to apply, visit: https://univerct.asan-nanum.org/

About The Asan Nanum Foundation

The Asan Nanum Foundation (ANF) is a South Korean nonprofit established in October 2011 in honor of the late Chung Ju-yung, founder of Hyundai. With a mission to foster entrepreneurship and advance social innovation, ANF drives impact across four areas: entrepreneurship education, startup support, social innovation, and ecosystem development. The foundation also operates MARU, an entrepreneurship platform offering startups workspace, educational programs, and networks—based in Seoul, Korea (MARU180, MARU360) and San Francisco, California (MARU SF). Learn more at asan-nanum.org.

The Solar Photovoltaic (PV) Workshop, organized by New Energy Nexus in partnership with the People of Asia for Climate Solutions (PACS).

16 April 2026, Manila, Philippines — A new joint study by People of Asia for Climate Solutions (PACS) and New Energy Nexus highlights that stronger collaboration between the Philippines and China can accelerate renewable energy deployment in the Philippines and achieve its clean energy ambitions, while creating shared economic and technological benefits for both countries.

The report, Bridging Opportunities: A Roadmap for China–Philippines Renewable Energy Cooperation, identifies strategic pathways toward long-term cooperation that foster mutually beneficial partnerships between Chinese and Philippine stakeholders, support entrepreneurs, and expand access to affordable clean energy.

The report comes at a critical time as the Philippines targets 35% renewable energy by 2030 and 50% by 2040, while fossil fuels still account for roughly 78% of the energy mix. This transition has become more urgent amid the ongoing fossil fuel crisis affecting the country, which imports 98 percent of its crude oil from the Middle East, according to the Department of Energy. Continued reliance on imported fossil fuels exposes the Philippines to volatile global prices and supply disruptions.

“Today’s oil crisis is a reminder that the Philippines remains highly exposed to global fuel shocks. What this report shows is that the solution is already within reach. Scaling local solar and backing Filipino entrepreneurs to deliver it. With the right partnerships, we can accelerate deployment while building domestic capability, jobs, and more affordable energy for households and businesses,” says Brenda Valerio, Country Director at New Energy Nexus Philippines.

While diplomatic ties between the Philippines and China span five decades, collaboration in renewable energy remains limited. The study finds that the opportunity is not simply in increasing capital flows, but in structuring partnerships that drive shared growth, including joint ventures, local manufacturing partnerships, knowledge transfer, and technical capacity development that anchor value within the Philippines.

Chinese renewable energy companies bring extensive experience in technology, manufacturing, and large-scale deployment. The study finds that collaboration should expand to distributed and community-based solutions such as rooftop solar and microgrids, which can be deployed faster and help address grid constraints.

“This can be a perfect match. The Philippines has rich renewable resources and urgent needs, while China has strong capacity and readiness. Together, we can deliver clean, safe, and affordable electricity for Filipino communities,” says PACS Executive Director Xiaojun Wang. “The longer we hesitate, the more we lose.”

The report shows that implementation challenges persist, particularly in areas such as grid integration, financing access for smaller players, permitting processes, and technical standardization, issues that affect both large developers and small enterprises.

The report identifies six priority pathways for collaboration, including rooftop solar expansion, off-grid solutions for remote communities, emerging technologies, EV–solar integration, technical capacity development, and circular economy initiatives. It also calls for closer collaboration between government, local developers, financiers, and Chinese suppliers to streamline permitting, improve financing access, and strengthen technical standards. Such collaboration can also support regional expansion opportunities through joint ventures and innovation partnerships that build long-term regional value.

The findings are based on surveys and interviews with more than 50 renewable energy developers, entrepreneurs, and industry experts from both countries.

As the Philippines works toward increasing the share of renewables in its energy mix, the report argues that collaboration, when designed to empower local innovators and diversify supply chains, can accelerate progress while ensuring that economic value and expertise are built domestically.

Read and download the full report here.

About People of Asia for Climate Solutions

People of Asia for Climate Solutions (PACS) is dedicated to advancing people-centered climate solutions. We create narratives, build new networks, and establish innovative platforms where different puzzle pieces come together into the vision. Our organization operates through both a China-based team and a Philippines-based team, working to build bridges and strengthen communication between China and climate-vulnerable countries on climate change mitigation and adaptation.

Ho Chi Minh City, December 4, 2025 — Vietnam’s climate tech sector outpaced the world in 2024, capturing 22.3% of total VC activity in the country—nearly twice the global average (12%)—yet the surge was powered overwhelmingly by one mega-deal, underscoring both momentum and fragility in the country’s emerging climate innovation economy.

These findings come from the newly released Vietnam Climate Tech Funding Ecosystem 2025 report, jointly produced by New Energy Nexus Vietnam, RMIT University, and the AGILE Project.

A second major shift highlighted in the report is how new energy policies are quietly reshaping Vietnam’s investment map, triggering a fivefold surge in Energy Transition funding. The passage of the Law on Electricity 2024 and the Rooftop Solar Decree 135/2024 unlocked a wave of investment activity, pushing Energy Transition deals to US$15.5 million in 2024—five times higher than 2023. This marks one of the most significant policy-driven investment jumps in the sector’s history.

Between 2015 and 2024, 78 Vietnamese climate tech enterprises raised nearly US$205 million across 217 deals, with nearly US$100 million raised in 2024 alone. But the landscape is highly concentrated: 71% of climate tech funding in 2024 came from a single US$70 million Series A deal (from TECHCOOP), revealing a heavy reliance on landmark transactions rather than broad-based growth.

Other notable findings include:

• Post-seed “graduation” for climate tech fell to 11.11%, compared to 32.2% for the wider tech sector.
• Impact investors participation in Vietnam’s climate tech deals increased from one in 2020 to 10 in 2024, bringing stricter expectations around measurement, gender equity, and HSES standards.
• Grants remained the dominant source of early-stage capital as domestic VC participation stayed limited.
• Ho Chi Minh City continues to be the country’s primary funding hub, followed by Hanoi and Danang.

“When one mega-deal accounts for more than 70% of all VC funding, it tells us innovation exists, but the scaffolding around it is thin. Organisations like New Energy Nexus play a critical role in strengthening this scaffolding: supporting the building pipelines of investment-ready founders, widening access to grants and patient capital, and ensuring domestic investors gain the confidence and data they need to participate,” said Thao Tran, Country Director at New Energy Nexus Vietnam.

The report also introduces the first four-layer ecosystem map that clearly defines enterprises, financial providers, intermediaries, and government enablers—an important step toward clarifying “who does what” in Vietnam’s climate innovation system.

“As co-authors of this report, our team at RMIT aimed to provide in-depth insights into Vietnam’s climate tech funding ecosystem. Beyond supporting entrepreneurs and investors, we also hope these findings will be integrated into teaching, helping students understand real-world challenges and opportunities in the sector,” said Dr. Duy Dang, Associate Head of Research & Innovation at RMIT Vietnam.

Download the report here.

About New Energy Nexus Vietnam

New Energy Nexus Vietnam was launched in early 2019 with the mission of promoting Vietnam’s clean energy transition. We have supported over 550 entrepreneurs and engaged over 1,800 participants through our incubation, acceleration, and funding programs. With our backing, startups have generated US$1.6 million in grants.

By enhancing our strong bond with all the stakeholders in the network, we aim to further develop the energy ecosystem in support of a smooth transition to sustainable initiatives and build a pipeline of potential entrepreneurs.

About RMIT University

Founded in 1887, RMIT is a multi-sector university of technology, design and enterprise with more than 90,000 students and over 11,000 staff globally. RMIT provides students with a high-quality education, preparing them for life and work in a global economy. As the largest offshore campus in Asia, RMIT Vietnam has three locations: Ho Chi Minh City, Hanoi, and Danang. With over 12,000 students and 1,300 staff, the University has graduated nearly 25,500 alumni since 2000. The University is celebrating its 25th anniversary this year.

About AGILE Project

The Advancing Growth, Innovation & Leadership for Enterprises in Vietnam (AGILE) project is an initiative funded by Global Affairs Canada (GAC) and implemented by the World University Service of Canada (WUSC) and Sarona Asset Management. The project aims to contribute to the increased resilience among Vietnam’s climate-vulnerable populations by fostering a more inclusive and effective business ecosystem that supports the growth of Climate Enterprises (CEs), particularly those that are women-led or serve women. The project promotes systemic change by strengthening support from ecosystem actors, increasing investment, and deploying funds using a Gender Lens Investing (GLI) approach for CEs.

Photo from the People of Asia for Climate Solutions (PACS) Facebook page

Manila, Philippines, 29 October 2025 – As part of its goal to strengthen renewable energy cooperation between China and the Philippines, New Energy Nexus in partnership with the People of Asia for Climate Solutions (PACS), through the Climate Actions in Renewable Energy (CARE) Project, hosted solar training partners and program alumni in the Solar Photovoltaic (PV) Workshop held in China from October 13 to 16, 2025.

The four-day workshop immersed participants in the latest developments in solar PV technologies with one of China’s pioneering solar panel manufacturers. The sessions also provided insights into emerging trends in distributed renewable energy (DRE), solar manufacturing, and potential areas for collaboration between Chinese and Philippine enterprises.

The Solar Photovoltaic (PV) Workshop, organized by New Energy Nexus in partnership with the People of Asia for Climate Solutions (PACS).

“The activity [PV workshop] was an invaluable opportunity to strengthen our local partners’ technical knowledge while building bridges for future cooperation in the renewable energy sector,” said Brenda Valerio, Program Director of New Energy Nexus Philippines.

The visit also contributes to the development of the Project Opportunity Map, CARE’s main output that identifies opportunities for collaboration between Chinese renewable energy enterprises and Philippine stakeholders.

Participants of the Solar Photovoltaic (PV) Workshop, organized by New Energy Nexus in partnership with the People of Asia for Climate Solutions (PACS).

The Filipino delegation was composed of New Energy Academy solar training partners and Solar Innovation Program alumni who have been instrumental in expanding the country’s clean energy workforce and promoting solar innovation.

• R.A.R Ventures Incorporated (EcoSolutions)
• Sunstruck Solar Solutions Inc.
• Salfer Engineering and Solar Technology Enterprise
• S.P.A.R.C. Solar Power Installation Services
• Photovoltaic Solar Centre
• SJ Renewable Energy
• G-Power Solartech
• Skipper’s Electronics Engineering Services
• T-North Training Consultancy Services
• Hive Energy PH
• GG Automation Construction Services
• Solar King Electrical Trading
• 10K GDC Commercial Inc.

“This experience reflects our ongoing commitment to empowering our training partners and alumni with global perspectives and technical expertise. Learning from one of the world’s most advanced solar markets, we hope that these technologies and insights can be adopted and made available in the Philippines, helping our local solar industry champions continue to grow and evolve,” said Jacob Taguinod, Partnerships Manager of New Energy Nexus Philippines.

“The PV workshop in China was inspiring, humbling, and deeply encouraging. It showed us how passionate entrepreneurs can unite around a shared vision for renewable innovation and how advanced PV technology has already become, from solar benches to zero-carbon housing.”

These experiences are critical stepping stones that have bolstered our resolve. They encourage us (solar installers) to push beyond mere profit and focus instead on ambitious advocacy. Having seen these advanced solutions realized in practice, we now know the future we envision for our country is not a distant concept, but a tangible reality we can immediately begin to implement,” said Richmond Reyes, President of EcoSolutions Philippines.

The Solar Photovoltaic (PV) Workshop, organized by New Energy Nexus in partnership with the People of Asia for Climate Solutions (PACS).

Through the CARE Project and initiatives such as the PV Workshop, New Energy Nexus continues to advance cross-border knowledge sharing and support solar entrepreneurs to contribute to advancing the country’s renewable energy market.

About the CARE Project

The Climate Actions in Renewable Energy (CARE) Project is a strategic initiative led by New Energy Nexus (Philippines and China) in partnership with People of Asia for Climate Solutions (PACS). It aims to foster cross-border collaboration in clean energy deployment by supporting Chinese enterprises in navigating the Philippine renewable energy market and promoting knowledge exchange between both countries.

Berkeley, USA – September 16, 2025 –  New Energy Nexus (NEX) today announced that Henri van Eeghen will conclude his tenure as CEO, as the organization moves further into a locally led model catalysed under his leadership.

Over the past year, Henri has guided NEX in placing more decision-making and delivery power with its country Chapters, while focusing the global team on providing the right support and expanding the network’s collective impact and footprint in new markets. With that shift well underway, the responsibilities of the CEO role have evolved, and the Board and Henri have agreed that this is the right moment for a leadership transition.

To ensure continuity and stability, Andrew Chang, New Energy Nexus’ Chief Growth Officer, will step up as CEO. Andrew’s focus will be to lead the global team’s next phase: supporting Chapters worldwide, strengthening partnerships in new markets, and keeping delivery focused and effective.

Janet Dalziell, Chair of the Board, said: “On behalf of the Board, I want to extend our deep gratitude to Henri for his leadership during a pivotal stage in NEX’s journey. He helped advance our shift to a more locally led network: empowering Chapters and setting the organization up for success. As NEX enters its next phase, we’re confident the organization is strong, resilient, and well-positioned to expand its impact.”

Henri van Eeghen said: “It has been a privilege to serve New Energy Nexus at such a crucial juncture. Together, we prepared the organization to operate as a truly networked entity, driven by empowered Chapters and entrepreneurial partnerships. With that direction underway, the timing is right for a leadership transition. I am proud of what we’ve achieved and confident in the global team’s ability to deliver at scale.”

Andrew Chang said: “NEX is built on the strength of its Chapters and the clean energy entrepreneurs we serve. I am deeply committed to the mission, having spent more than nine years at NEX leading a Chapter, growing new markets, and launching new initiatives. That experience has shown me that as a network of local leaders, we are greater than the sum of our parts.

“As CEO, my focus will be on ensuring our Chapters have the support and resources they need to succeed, while deepening the partnerships and programs that help them thrive. Building on the path Henri set for us—and by keeping our global team steady and effective—we will expand NEX’s impact as a truly global network for clean energy entrepreneurship.”

Henri, who will be on hand to advise the new leadership, departs with the respect and gratitude of the entire NEX community. The Board is confident that the CEO will provide stability and clarity as the organization moves forward, and that NEX remains well-positioned to fulfill its mission to accelerate the clean energy transition, with clean energy entrepreneurship at its core.

Manila, Philippines – New Energy Nexus (NEX) Philippines and solar energy company EcoSolutions Philippines have officially signed a Partnership Agreement to accelerate solar energy adoption and workforce development in the Philippines.

This collaboration marks a significant milestone in advancing the country’s renewable energy sector. By joining forces, NEX Philippines, New Energy Academy, and EcoSolutions Philippines aim to enhance practical solar installation training across the Philippines, equipping individuals with hands-on experience in solar technology.

“This partnership represents a shared vision of empowering individuals and communities through clean energy solutions,” said NEX Philippines Country Director Brenda Valerio. “By leveraging our expertise and resources, we aim to create more opportunities for Filipinos in the solar industry.”

The partnership also seeks to increase market awareness, adoption and access to innovative and efficient solar technologies nationwide. As part of this effort, EcoSolutions will provide solar panel demo units for training purposes, which will be distributed among multiple training partners of the New Energy Academy, New Energy Nexus’ solar training program. Additionally, the partnership will sponsor solar installation training scholarships to support aspiring solar professionals and entrepreneurs. Through these initiatives, both organizations aim to develop a skilled workforce, foster job creation, and strengthen their roles in the Philippine renewable energy ecosystem.

Mariah Brenda Valerio, Country Director at New Energy Nexus Philippines and EcoSolutions Philippines President, Mr. Richmond Royce V. Reyes, sign the Partnership Agreement.

The official signing ceremony was attended by key representatives from both organizations, with Valerio and EcoSolutions Philippines President Richmond Royce V. Reyes as signatories of the agreement.

Sheryl Estella (Academy Manager, New Energy Academy) and Ivan Fredriech L. Cano (Marketing Head, EcoSolutions Philippines) show support during the signing of the Partnership Agreement.

The partnership between New Energy Nexus Philippines and EcoSolutions Philippines is set to roll out various initiatives in the coming months, including specialized training programs and industry engagement activities to drive greater adoption of solar energy solutions across the country.

About New Energy Academy

New Energy Academy is a solar training institution dedicated to developing skilled professionals in the renewable energy sector. It was founded in collaboration with New Energy Nexus, Global Sustainable Energy Solutions (GSES) and OpenSolar, as a response to the rapidly growing solar industry.

About EcoSolutions Philippines

EcoSolutions Philippines, a trade name under R.A.R. Ventures Incorporated, specializes in solar panel system distribution, installation, and cleaning services for both residential and commercial properties in the Philippines.

The 3GE Team, [RE]Power Hackathon First Place winner, presents their clean energy policy proposal.

Announced at New Energy Nexus Indonesia’s [RE]Power event, the policies will be shared with policy leaders who will formulate the upcoming 2025-2029 RPJMN (National Medium-Term Development Plan).

• First place: Encouraging private sector engagement through efficiency and transparency in a public-private partnership for renewable energy infrastructure project in Indonesia | 3GE Team (Nain M. Farchan & Elmaira Ferlita S) – Universitas Jember
• Second place: Establishing a Coordinating Ministry for Climate Change as a Solution for Data Integration and Roadmap Synchronization to reach Indonesia’s Net Zero Emission Goals | Invaluable Team (Azaria Ahmad Haykal, Gema Wachid Aryasatya, Rafi Ramadhan Seba) – Institut Teknologi Bandung & University of Tokyo
• Third place: Proposing strategies to strengthen the clean energy research and development ecosystem in Indonesia | Arindama Team (Rizka Fitria Utami & Herlina Pebria) – Universitas Sultan Ageng Tirtayasa
  These teams were selected after completing a rigorous bootcamp, developing capstone projects, and participating in intensive mentoring sessions. The winning teams will share a total prize of IDR45,000,000.

“Young people are not only one-quarter of the Indonesia’s population, but they’re also at the forefront of climate change impacts. That’s why we’re showcasing their ideas and solutions, providing them the opportunity to collaborate with entrepreneurs, researchers and policymakers to influence future energy policy,” said Diyanto Imam, Program Director of New Energy Nexus Indonesia. “We’re so proud of the finalists and all the participants who demonstrated unyielding optimism to solve some of the world’s most intractable problems.”

According to the first-place winner 3GE Team, there are several key issues in Indonesia’s clean energy policies, particularly in relation to Public-Private Partnerships (PPP). These include a lack of transparency and persistent corruption within renewable energy projects, unclear risk-sharing mechanisms between the public and private sectors, and the absence of compelling incentives that limit the appeal of green energy initiatives under the current PPP framework.

“To address these challenges, we recommend improving public transparency and accountability through open reporting on project implementation, establishing clear risk-sharing mechanisms to strengthen public-private partnerships, and developing more attractive programs for investors with effective financing strategies,” said Elmaira Ferlita S, a member of the 3GE Team. “These measures are essential for driving sustainable development in Indonesia’s clean energy sector.”

“I never realized how much goes into creating a policy and how deeply it impacts our daily lives. While I’m thrilled that our team won, I’m even more grateful for the knowledge and networks we’ve gained through the [RE]Power Hackathon, especially the intensive discussions we had with our mentors and industry experts,” added Nain M. Farchan, also from the 3GE Team.

New Energy Nexus (NEX) Indonesia’s [RE]Power Hackathon is the country’s first youth-driven energy policy hackathon designed for young innovators to develop forward-thinking policies that will catalyze the adoption of clean technologies across Indonesia.

“I am pleased to see our youth dedicating their minds to creating policies that will drive Indonesia toward achieving its sustainable energy transition goals. The fact that dozens of young people applied to the [RE]Power Hackathon shows their deep interest in and commitment to these critical issues,” said Ir. Senda Hurmuzan Kanam., M.Sc on behalf of Eniya Listiani Dewi, Director General of New and Renewable Energy. “As someone who helps shape regulations, it gives me peace of mind knowing we are not alone in this journey. When my time ends, I am confident that our future leaders will take the reins and ensure Indonesia’s continued progress with just policies.”

The [RE]Power Hackathon also welcomed five startups from Bali showcasing products ranging from waste-derived innovations to eco-apps aimed at promoting sustainable tourism: Ambawarna, Kishara, Decoco Luminer, Ecous, Kelana Terra.

[RE]Power is proud to collaborate with eleven youth-led organizations: BEM FH Universitas Indonesia, Climate Rangers Jakarta, Economy for Ecology, Environmental Law Society FH Universitas Indonesia, Green Welfare Indonesia, School of Applied STEM Universitas Prasetya Mulya, Society of Renewable Energy ITB, Society of Renewable Energy ITK, Society of Renewable Energy Universitas Indonesia, Teens Go Green Indonesia, and Mindworks Lab. NEX Indonesia is also grateful for the support of our media partners, Changemakr Asia, Katadata.co.id, Katadata Green, and Zona EBT.

The support from Milkywire, the Ministry of Energy and Mineral Resources, and the Ministry of National Development Planning has been critical in NEX Indonesia’s efforts to foster a vibrant cleantech ecosystem in Indonesia.

Makati City, Philippines, 18 September 2024 — The Philippines currently has 91 clean energy and climate startups, representing a six-fold increase since 2020 (from 15), according to a new report, It takes a village: Growing an ecosystem to support Philippines’ clean energy startups, from New Energy Nexus. Of these startups, 18 have raised almost US$1.3 million.

“The Filipino clean energy innovation ecosystem has shown huge progress and promise in the past years, but the nascent space runs the risk of stalling because of lack of access to networks, funding, testing facilities, and skills training,” said Brenda Valerio, Country Director at NEX Philippines. “Local entrepreneurs are best placed to understand how to deploy solutions in their communities and transition our economy more equitably to clean energy. It really does take a village to build and deploy these solutions.”

The study also found that while these startups are mostly in Metro Manila (34.1%), entrepreneurs from Northern Mindanao (14.5%) and CALABARZON (16.5%) are carving up space in the industry.

Industries for climate and clean energy startup companies and enterprises

Nearly half of startups (49%) are in the renewable energy generation sector, while others are in the sustainable transportation / e-mobility sector,  energy access sector (both at 8%), and waste management (7%).

These developments are due in part to more opportunities for clean energy businesses to scale, with over 100 national energy policies and incentives easing the burden on entrepreneurs, increasing opportunities in the private sector, and incubator and accelerator programs run by organizations such as New Energy Nexus—which is still the only non-profit clean energy accelerator in the country. New Energy Nexus has directly supported over 90 percent of these startups since 2019.

Despite significant progress, the report outlines how public, private, and advocacy stakeholders can build an innovation ecosystem to support more thriving startups and accelerate the adoption and deployment of clean energy innovation.

• Among the gaps seen are in the public sector. Unstreamlined bureaucratic processes, lack of resources at the local level, and potential policy changes make it tough for many entrepreneurs to access the funding and incentive programs that the government provides. There is also a lack of research, testbeds, and facilities in the country that could accelerate the development of clean energy technologies.
• Another concern is private investments. Of the US$ 1.3 million in funding mentioned above, only 13 percent came from private loans and investments. Furthermore, some startups require substantial upfront investment,  yet many are not ready to meet the demand of managing large capital injections. This is where support from the private sector, government, and nonprofits is required—beyond early-stage funding, startups need to access venture capital and growth-stage funding in order to scale and access new markets.

“In my observation, most startups are not yet ready for the type of funding that’s currently available. We have to recognize that many of these companies are still at an early stage in their development,” said Rachel Santiago-Sacro of venture fund Clime Capital, which invests in sustainability and clean energy ventures. “It’s crucial that we provide support at every stage of a startup’s journey, not just when they’re ready for significant investment.”

• On the scarcity of capital, the report recommends experimenting with diverse funding mechanisms and de-risking strategies to create a more investor-friendly environment for both institutions and innovators. These include public-private partnerships, venture capital, and crowdfunding, which could boost financial support for energy innovation in the country.

Furthermore, the report calls for streamlining regulatory processes for ease of business, enhanced support on market access, integration of energy innovation and entrepreneurship topics in academic curricula, and fostering a community of various stakeholders to facilitate mutual learning.

“Many of these gaps could be filled by addressing fragmentation in the clean energy sector,” Valerio said. “Instead of working independently, government agencies, think tanks, and non-government organizations must collaborate to make processes more efficient for startups and to catch up with the country’s growing startup space.”

Sydney, 18 September 2024 – The second annual Supercharge Australia Innovation Challenge announces today a new cohort of 12 startups with solutions to rapidly convert half the Australian vehicle fleet to electric vehicles (EVs), equivalent to more than 10 million vehicles.

The Challenge aims to find solutions that can deploy up to 1.3TWh of batteries that would be required to reach this goal, starting with approximately 600GWh of heavy truck and bus batteries (plus up to 25GWh for  mining), 400GWh for light trucks and commercial vehicles and 260GWh for passenger vehicles [1].

The startups selected for the cohort are:

• Australian EVS, Newcastle, NSW: light commercial EV retrofits for councils and fleets.
• Cuedo Controls, Melbourne, VIC: efficient EV software control systems for the entire retrofit market.
• Eclass Outboards, Kiama, NSW: electric outboard and marine hybrid retrofits for pleasure craft and fishing fleets.
• Electric Power Conversions Australia (EPCA), Hazelmere, WA: EV retrofitting mining haul trucks from 100 tonnes and up
• Electromotiv, Canberra, ACT: EV retrofitting buses for public transport and private fleets
• Evans Electric, Sydney, NSW: EV powertrain hardware and software developer specialising in axial flux motor development including e-axles
• IonDNA, ACT and NSW: power electric ATVs, utility vehicles, and farm tools from electricity generated via on-site solar power infrastructure.
• Jaunt, Melbourne, VIC: EV conversion systems for classic cars and specialist commercial vehicles.
• Net Zero Engineering Solutions, Adelaide, SA: bi-directional EV charging solution.
• OZ Electric Vehicles, Logan City, QLD: battery upscaling and “flat pack” EV retrofit kits.
• “Project Midas,” Sydney, NSW: next-generation graphene anode technology, improving lithium-ion battery performance and safety.
• REVR, Melbourne, VIC: Minimised installation requirement mass EV retrofit kits.

“This is the first innovation challenge of its type in Australia to focus on mass EV retrofitting vehicles. With the incredible increase in battery demand this would generate, we aim to change the conversation on the viability of battery and cell manufacturing in Australia, taking advantage of our huge competitive advantage in the lithium battery supply chain,” said Kirk McDonald, Project Manager for Supercharge Australia.

“Not only would retrofitting half the Australian vehicle fleet to electric vehicles rapidly reduce emissions from transport, it would also support a big capacity uplift in our startup innovation ecosystem and clean energy advanced manufacturing,” said Megan Fisher, CEO of EnergyLab.

Participants in the inaugural Supercharge Australia Innovation Challenge in 2023 raised over AU$48 million in funding subsequent to the first Challenge. Applicants this year will benefit from technical support, networking, mentoring, wide exposure and introductions to investors and customers in an industry roundtable to accelerate their success.

Delivered over two months with most sessions online, startups will receive advice from international and domestic experts in finance, IP and business growth, and pitching the opportunity to investors. This will culminate in the second Supercharge Australia Innovation Challenge Awards event, in Sydney on November 7.

The winning startup will also have the opportunity to join an expert guided visit by Danny Kennedy, EnergyLab Director and Venture Partner at New Energy Nexus Ventures, to California’s startup ecosystem, centred in the San Francisco Bay Area.

“It’s a perfect time to showcase the world-beating ambition and technical know-how this team has to decarbonise half Australia’s vehicle fleet, all with Australian-made lithium batteries,” said Danny Kennedy.

The Challenge aims to rapidly decarbonise the transport sector and accelerate battery demand.  In 2022 the transport sector contributed to 19% of Australia’s emissions, with trucks, buses and light commercial vehicles accounting for about 40% of the total transport figure. The potential CO2 savings are critically important; and vehicle acquisition cost savings of up to 50% per vehicle in comparison to new purchases have been identified in overseas markets.

Supercharge Australia is accelerating the lithium battery value chain in Australia, and is a joint project of not-for-profit cleantech startup support organisations New Energy Nexus globally and EnergyLab in Australia and New Zealand.

Notes:

Photos are available here.

[1] Calculations apply expert-advised current and at-scale estimates of lithium battery, electric motor, software control systems, wages and ancillary design and other costs to the Australian vehicle fleet data from Bureau of Infrastructure and Transport Research Economics. “Motor Vehicles, Australia, January 2022 (First Issue).”

About New Energy Nexus

New Energy Nexus (NEX) is an international organization that strives towards a 100% clean energy economy for 100% of the population. It does this with a laser focus on diverse entrepreneurs, supporting them with accelerators, funds, skills, and networks they need to thrive.

NEX has accelerated over 1,200 startups, supported nearly 9,000 entrepreneurs, and mobilized over US$3.7 billion in investment. Celebrating 20 years since its founding in California in 2004, NEX now operates programs or advisory services in Australia, China, India, Indonesia, Nigeria, Pakistan, the Philippines, Thailand, the UAE, Uganda, the USA (California and New York), and Vietnam. More at www.newenergynexus.com

About EnergyLab

EnergyLab is Australia’s largest climate tech startup accelerator and innovation network dedicated to reaching net zero emissions. EnergyLab connects talented founders to the mentors, advisors, partners, peers and investors they need to succeed and has so far supported over 195 startups and 140 aspiring founders through its various programs.

In addition to running 10 programs, EnergyLab operates a climate focused angel investor network with over 200 angel investors, a mentor network with over 400 experts, coworking and events space at UTS in Sydney all of these services are leveraged to support the clean energy and decarbonisation startup ecosystem in Australia.

July 31, 2024 – New Energy Nexus is expanding its impact into Pakistan through a partnership with Renewables First, the country’s leading think tank for energy and the environment.

From left: Zeeshan Ashfaq, CEO of Renewables First, and Stanley Ng, Global Partnerships Director at New Energy Nexus

The partnership, announced at the Pakistan Cleantech Forum in Islamabad, will set the stage for economic growth, job creation, and increased international investment in Pakistan’s burgeoning climate tech sector.

Recognizing Pakistan’s climate vulnerability and substantial climate financing gap, the partnership aims to catalyze change in the climate tech space by combining New Energy Nexus’s global expertise in accelerating clean energy businesses and startups with Renewables First’s deep understanding of local challenges. This collaboration comes at a pivotal moment, as Pakistan strives to meet its ambitious Paris Agreement commitment of reducing emissions by 50% by 2030.

Stanley Ng, Global Partnerships Director at New Energy Nexus

“Our partnership with New Energy Nexus marks a significant milestone in Renewables First’s mission of accelerating Pakistan’s energy transition,” said Zeeshan Ashfaq, CEO of Renewables First.

“Pakistan presents an ideal market for cleantech growth, where potential is aplenty, and our youth deserves opportunities to flourish and mainstream their ideas. We remain committed to investing in the future of Pakistan’s cleantech ecosystem.”

Stanley Ng, Global Partnerships Director at New Energy Nexus, said: “Pakistan is the world’s fifth most populous nation, with its largest industries in high carbon-emitting sectors like textiles, agriculture, automotive, cement, steel, and chemicals. Here lies an immense opportunity to ignite the development of groundbreaking climate tech innovations.

“New Energy Nexus, with its vast experience in ecosystem building, and Renewables First, with its deep energy market insights and network, are coming together to unlock this potential. Together, we will identify critical areas where climate entrepreneurs can craft impactful solutions, deploy them, and scale their efforts to enable a low-carbon economy.”

Ahtasam Ahmad, Energy Finance Associate at Renewables First

New Energy Nexus and Renewables First will launch programs in the next 12 months focusing on developing a strong pipeline of clean energy startups and enhancing their success through tailored training programs, as well as collaboration with other ecosystem stakeholders and policy advocacy to support an enabling environment for climate tech innovation.

About Renewables First

Renewables First (RF) is a think-and-do tank for energy and the environment. RF’s work addresses critical energy and natural resource issues with the aim of making energy and climate transitions just and inclusive through impactful research, advocacy, and strategic partnerships. More at: www.renewablesfirst.org