News
Indonesia
Built Environment
Youth
Indonesia’s first youth driven clean energy policy competition announces winners

3ge first winner of nex's indonesia [re]power energy policy hackathon 00

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

Jakarta, 20 September 2024 – The winners of Indonesia’s first youth-driven clean energy policy “hackathon” presented their policy recommendations today to the Ministry of Energy and Mineral Resources and the Ministry of National Development Planning (Bappenas).

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.

Media contacts:

Raisha Fatya
Communications Manager, New Energy Nexus Indonesia
raisha.fatya@newenergynexus.com

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 1,400 startups, empowered over 9,500 entrepreneurs, and mobilized over US$3.7 billion in investment. 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.

Follow NEX on LinkedIn, X, Facebook, and YouTube

About New Energy Nexus Indonesia

In Indonesia, New Energy Nexus works to support the development of ecosystems that can support the needs of not only innovators, startups, and entrepreneurs, but also other stakeholders in the clean energy and climate solutions sectors.

Story
Indonesia
Energy Access
Decarbonizing Indonesia, one island at a time

Indonesia, the eighth-largest carbon emitter globally, faces significant climate risks. Despite these challenges, its abundant resources position Indonesia as a pivotal player in transitioning towards sustainable and decarbonized solutions. New Energy Nexus Indonesia is leading this change by supporting clean energy entrepreneurs in the climate solution sector. One of its programs, the Dilau Initiative, aims to decarbonize Indonesia’s marine and fishery sectors with a particular focus on coastal communities. The initiative includes conducting community outreach, building capacity, introducing scalable innovations, and preserving the marine ecosystem.

Bungin Village, located in the Alas District of the Sumbawa Regency, was originally settled by members of the Bajo Tribe, renowned for their free diving and fishing skills and recognized as the world’s largest remaining group of sea nomads. The Bajo community has maintained its distinct way of life by building its own islet out of coral, allowing their culture to develop separately from the mainland. The village is densely populated by 2,338 people per square kilometer, with most residents being fisherfolk. This includes 1,020 to 1,113 active fishers, 9 active fish collectors, and 12 fish farming groups known as KJA (Kelompok Jaringan Apung); though only 4 of these groups remain active.

cold storage olat maras sumbawa yudha baskoro 11

Aerial view of Bungin Village. Photo by Yudha Baskoro

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A fisherman passes his catch to his wife to sell at the market. Photo by Yudha Baskoro

The problem

Transitioning towards sustainable practices in Indonesia is a complex issue. For many Indonesians, the priority is simply putting food on the table, making it tough to prioritize sustainable practices.

In Bungin Village, the fishing sector faces several challenges, including issues with storage, high electricity, and fuel costs, as well as its dependence on conventional fuel for boats—which is both expensive and harmful to the environment.

Waste is also a significant issue on Bungin Island. The use of styrofoam for storage and plastic for fish captures and ice blocks have resulted in considerable trash ending up in the ocean. Moreover, fisherfolk often catch more fish than they can sell, resulting in waste and financial stress due to limited storage options and the high cost of ice and electricity.

The fishing sector holds a real chance for positive change, especially as more people are looking for ways to cut costs. With plenty of sunlight in the area, there’s a great opportunity to bring in sustainable solutions—one such idea is solar-powered cold storage for fish catch and electric outboard motors for boats. But the shift isn’t easy; there’s a knowledge gap, and some folks are hesitant, which is understandable given the lack of awareness, the high upfront costs, and concerns about whether new technologies will work. Making this transition will need careful planning and strong support to overcome these hurdles. With the end goal of adopting sustainable technologies, we can help lower costs and make sure there’s enough food for everyone.

“The potential for solar power in Sumbawa is excellent, so it would be a shame not to utilize it. We want to introduce green practices to the fishermen in Bungin Island, providing a solution to their problems” — Ahmad Jaya (Chief of Technology of Olat Maras Power)

cold storage olat maras sumbawa yudha baskoro 30

Nova, CEO of Olat Maras, inspects a solar-powered charging station. Photo by Yudha Baskoro

The solution

Our feasibility study

To get this initiative off the ground, we first needed to understand the current situation and the people who live there.

The feasibility study conducted by New Energy Nexus Indonesia and Manussa Consulting focuses on how we can bring solar-powered cold storage and electric outboard motors to Bungin Village’s fishing industry. The goal is to cut carbon emissions and boost economic efficiency by embracing sustainable technology. We surveyed 54 people, including 45 fishers and 9 village fish collectors (Pengepul Ikan), and conducted interviews with 22 representatives from startups, fish collectors, mariculture farmers, fishers, restaurant owners, local government, village enterprises, and banking institutions. The study suggests that providing workshops and financial incentives will be crucial to getting people on board with these new technologies. The financial analysis confirms that the project is feasible, but it will require careful financial planning and backup plans to ensure success.

The study brings to light some major challenges, including the high costs and the fact that many people are unfamiliar with the new technology. We asked locals about their knowledge and understanding of these technologies, their benefits, and climate change in general, and we found that there is a noticeable lack of familiarity, as shown in the chart below.

awareness and knowledge gaps among local communities

Noticing this trend, we wanted to gauge how interested people are in adopting and buying the technology. The results reveal that their interest is considered a balance between those who are keen, those who aren’t, and those who are neutral. But when it comes to making a purchase, it turns out that more people seem to shy away, which makes sense given the still low awareness of electric outboard motors.

interests in using electric outboard motors vs interests in purchasing the electric outboard motors

In contrast to responses about solar-powered cold storage, where people seem to have a better understanding due to existing units available in the village, therefore show more interest in adoption and purchase, although there’s still a high level of disinterest. This highlights how crucial initial awareness and knowledge are.

interest in using solar powered cold storage vs interest in purchasing a solar powered cold storage

When we asked why folks were disinterested, most said it was because the unit wasn’t a priority for them and they were worried about the high initial cost. Others were concerned about its capacity and durability.

Offering solutions such as financial support and awareness-raising programs may help bridge these gaps. By involving various stakeholders and pushing for sustainability, the project hopes to set an example for positive change in other coastal communities.

Solar Powered Cold Storage by Olat Maras

Our study reveals that many village fish collectors in larger capacity categories depend on multiple cooling units powered by PLN electricity, leading to significant monthly electricity costs. While fish collectors can store their catch for 2 to 4 days, they often prefer to sell it immediately. Some fishers also use cold storage when they return late from fishing, relying on arrangements with village collectors. To maintain the cold chain, fish collectors use styrofoam boxes and ice blocks, incurring substantial daily expenses.

Recognizing the Island’s abundant solar energy, Olat Maras Power offers sun-powered cold storage to help cut down electricity costs. This new solution addresses the significant economic loss caused by fish spoilage. Previously, fish quality would degrade by an average of 220 kg per month, reaching up to 1.2 tons during peak fishing seasons. With cold storage, fishers can now store their catch longer, reducing waste and increasing the market value of their products. By preventing spoilage—assuming a 25% rate—each fish collector can avoid economic losses of approximately IDR 2,388,750 (~US$147) per month.

“Before we had the cold storage, I always looked for ice blocks. If I couldn’t find it, I had to let the fish rot” — Mrs. Jusmia (a local fishmonger from Bungin Island, user, and beneficiary of the technology)

 

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Fish catch stored in styrofoam boxes, ready to be sold at the market. Photo by Manussa Consulting

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A conversation with local fisherfolk for the feasibility study.

Electric Outboard Motors by Maritek

Despite the environmental impact and high costs associated with conventional fuels, many fishers are still unaware of alternatives like electric outboard motors. Our research shows that most fishers don’t know about the environmental damage caused by fossil fuels. In fact, 51% aren’t aware that fossil fuels are a finite resource, and 69% don’t understand the connection between fossil fuels, carbon emissions, and pollution, which contribute to climate change. Additionally, about 90% of fishers are unaware of alternatives such as electric outboard motors.

Switching to electric outboard motors can lead to significant cost savings for fishers, with each person saving around IDR 2,012,500 (~USD 124) per month on conventional fuel. Using solar-powered cold storage can further reduce costs, saving IDR 2,265,000 (~USD 140) on ice blocks and IDR 83,326 (~USD 5) on electricity per 300L storage unit. These savings can greatly boost their profits per delivery cycle, potentially doubling their earnings.

Our approach

While there’s promising interest in solar-powered cold storage and electric outboard motors from fish collectors, mariculture farmers, and restaurant owners, we face challenges like high initial costs and concerns about durability.

To address these issues, we will organize workshops to educate small and medium-scale fish collectors, mariculture farmers, restaurant owners, and other relevant stakeholders. These workshops will focus on the potential cost savings and environmental benefits of these technologies. We will also share case studies, testimonials, and success stories from current users within the community to encourage wider acceptance and adoption.

Our study identifies Pokdakan groups (Kelompok Budidaya Ikan), especially Lelepa boat fishers, as key candidates for this project. They are well-suited for solar-powered cold storage and electric outboard motors and will serve as an ideal starting point for introducing and adopting these technologies. We will run pilot projects with them to give participants firsthand experience with the technology. By collecting and analyzing their feedback, we can refine the technology and address any operational issues, ensuring it meets local needs and builds trust among potential users.

What success looks to us

For these technologies to truly be implemented in the village, we will need to connect with all the key people involved—fish collectors, mariculture farmers, and village officials—who will help build support within the community.

Our approach includes educational workshops, pilot demonstrations, and ongoing feedback mechanisms, with plans to scale up pilot trials to involve more fisherfolks.

We are hoping that the Indonesian government will support sustainability and growth following our pilot trials. Our goal is to develop a comprehensive knowledge base on coastal decarbonization, securing enthusiastic community support and fostering a sense of ownership in the initiative. We are also dedicated to involving youth from the Greater Sumbawa area in innovative projects, inspiring them to address local challenges and actively contribute to the initiative’s success.

In the future, we aim to establish a flexible business model for these technology adoption managed by community-owned enterprises, with a strong emphasis on transparency to navigate social and political challenges effectively.


The Dilau Initiative is supported by the Milkywire Foundation and implemented with help from our partners at Manussa Consulting.

Explore More
News
Philippines
Built Environment
Six-fold increase in Filipino clean energy startups since 2020, but support ecosystem needs to catch up

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.

1 v2

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.”

Media contacts:

Dan Lacsamana
Partnerships Associate, New Energy Nexus Philippines
danielle.lacsamana@newenergynexus.com
(based in Mandaluyong City)

Maverick Flores
Senior Content Producer, New Energy Nexus
maverick.flores@newenergynexus.com
(based in Quezon City)

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 1,400 startups, empowered over 9,500 entrepreneurs, and mobilized over US$3.7 billion in investment. 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.

Follow NEX on LinkedIn, X, Facebook, and YouTube

About New Energy Nexus Philippines

Since 2019, our programs in the Philippines have supported almost 1,000 entrepreneurs through accelerators, training, and networking opportunities. We have supported over 90% of the country’s clean energy and climate startups across all regions to scale and innovate on their solutions.

News
Australia
Transportation tech
12 startups announced in new Supercharge Australia Innovation Challenge to EV retrofit nation’s vehicle fleet

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.

Media contacts:

Kirk McDonald
Project Manager, Supercharge Australia
kirk.mcdonald@newenergynexus.com
+61 412 336 848

Tristan Tremschnig
Global Communications Director, New Energy Nexus
tristan.tremschnig@newenergynexus.com
(based in San Francisco)

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 1,400 startups, empowered over 9,500 entrepreneurs, and mobilized over US$3.7 billion in investment. 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.

Follow NEX on LinkedIn, X, Facebook, and YouTube

Story
Australia
Transportation tech
Turning half of Australia’s vehicle fleet into EVs? Challenge accepted.
Clayton Franklin with the team at Electric Power Conversions Australia and their electrified Cat 777 100-tonne haul truck.

Clayton Franklin with the team at Electric Power Conversions Australia and their electrified Cat 777 100-tonne haul truck.

Supercharge Australia welcomes 12 startups who have accepted our second annual Innovation Challenge—Retrofit Nation!

Beginning in August, we sought startups with solutions to convert half of Australia’s vehicle fleet into electric vehicles (EVs), or 10 million vehicles. To achieve this, they will need to find ways to deploy up to 1.3TWh of batteries that would be required to reach this goal.

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. Participants in the inaugural Supercharge Australia Innovation Challenge in 2023 raised over AU$48 million in funding after the first Challenge.

saic2 zoom photo

Participating startups join a virtual call with the team behind Supercharge Australia Innovation Challenger 2: Retrofit Nation.

“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.

The Challenge aims to rapidly decarbonise Australia’s transport sector, which in 2022 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.

Get to know each participating startup’s business model and hear from their founders below (click dropdowns for full descriptions):

australia evs

Australian EVS

Newcastle, NSW

Their business: Light commercial EV retrofits for councils and fleets.

Why they’re joining the challenge: “To meet like-minded businesses who are focused on transitioning Australia to zero emission transport.” — Edwin Higginson, Founder

cuedo controls

Cuedo Controls

Melbourne, VIC

Their business: Efficient EV software control systems for the entire retrofit market.

Why they’re joining the challenge: “To see the best EV retrofit practitioners Australia has to offer.” — Kyle Van Berendonck, Founder

eclass outboards

Eclass Outboards

Kiama, NSW

Their business: Electric outboard and marine hybrid retrofits for pleasure craft and fishing fleets.

Why they’re joining the challenge: “Connecting with battery suppliers, connecting with the retrofit community. Becoming investment ready.” — Lynelle Johnson, Founder

electric power conversions australia

Electric Power Conversions Australia

Hazelmere, WA

Their business: EV retrofitting mining haul trucks from 100 tonnes and up

Why they’re joining the challenge: “Because it aligns perfectly with our mission to drive sustainable transformation in the mining industry… We’re looking forward to connecting with like-minded innovators, demonstrating the viability of our technology, and pushing the boundaries of what’s possible to create a greener, more efficient mining future for Australia and beyond.” — Clayton Franklin, Founder

electromotiv landscape

Electromotiv

Canberra, ACT

Their business: EV retrofitting buses for public transport and private fleets.

Why they’re joining the challenge: “This could be the beginning of an incredible decarbonisation journey!” — Adrian Salinas, Founder

evans electric

Evans Electric

Sydney, NSW

Their business: EV powertrain hardware and software developer specialising in axial flux motor development including e-axles

Why they’re joining the challenge: “Excited by the opportunity to scale next-generation EV powertrains in Australia.” — Paul Evans, Founder

iondna

IonDNA

ACT and NSW

Their business: Power electric ATVs, utility vehicles, and farm tools from electricity generated via on-site solar power infrastructure.

Why they’re joining the challenge: “Retrofit Nation aims to build the Australian lithium battery value chain. To succeed, demand for lithium batteries must massively increase, supported by a domestic market that consumes battery electric technology at scale. Rural Australia represents a significant market for this technology (and a significant challenge).” — Michael Day, Founder

jaunt

Jaunt

Melbourne, VIC

Their business: EV conversion systems for classic cars and specialist commercial vehicles.

Why they’re joining the challenge: “Australia has the design and engineering talent, the resources, and the culture to lead the world in electric vehicle conversions. Let’s make that happen.” — Dave Budge, Founder

net zero engineering solutions

Net Zero Engineering Solutions

Adelaide, SA

Their business: Bi-directional EV charging solution.

Why they’re joining the challenge: “The chance to help supercharge V2X in Australia and the broader transition to EVs.” — Portia Rooney, Founder

oz electric vehicles

OZ Electric Vehicles

Logan City, QLD

Their business: Battery upscaling and “flat pack” EV retrofit kits.

Why they’re joining the challenge: “We can see what’s needed (to decarbonise Australia’s vehicle fleet) and want to make it happen.” — Graeme Manietta, Founder

project midas

Project Midas

Sydney, NSW

Their business: Next-generation graphene anode technology, improving lithium-ion battery performance and safety.

Why they’re joining the challenge: “Excited about the opportunity to contribute further to the fast-growing and exceptional Australian ecosystem of startups around lithium battery technology!” — Laura Whelan, Founder

revr

REVR

Melbourne, VIC

Their business: Minimised installation requirement mass EV retrofit kits

Why they’re joining the challenge: “It will be exciting to pitch REVR to a new audience and to interact with other entrepreneurs and innovators!”Craig and Alexander Burton

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.


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.

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Built Environment
Working towards deep collaboration to accelerate the clean energy transition
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New Energy Nexus CEO Henri van Eeghen

All living and thriving systems, including nature, are regenerative, circular, and interconnected. They go through phases of growth and renewal, ensuring nothing goes to waste.

Unfortunately, our current economy stands in stark contrast. Instead of regenerating, it depletes Earth’s resources, contributing to climate change, inequality, and instability. To create a sustainable future, we must not merely adjust our economic model but transform it entirely. By prioritizing our planet and nurturing society, we can reimagine an economy that regenerates. To achieve this, we must dare to rethink our entrenched financial systems, explore innovative solutions, and reward actions that benefit both society and the environment.

While this transformation is challenging, it is within our reach. Our current model was crafted by people, and we have the power to reshape it for a more sustainable and equitable world.

At New Energy Nexus, we champion initiatives that pioneer, catalyze, and foster communities and partnerships. We celebrate those who dare to go against the grain, challenge the status quo, and focus on regenerating both society and our planet. We do this with a laser focus on entrepreneurs building a 100% clean energy economy — for everyone, equitably. Access to energy is recognized as a fundamental human right and constitutes the seventh of the UN’s Sustainable Development Goals.

To achieve this, we need to engage entrepreneurs around the globe through accelerators, funds, skills, and the networks they need to thrive. We cannot do this alone; deep collaboration is essential.

What does deep collaboration look like?

About twelve years ago, while at Cordaid, I had a meaningful experience around collaboration. It was with an organization that had developed technologies, primarily using SMS, to share and send information. This was during a time when mobile usage was exploding in Africa, making distributed information suddenly accessible to many. Initially, the organization (AKVO and Text to Change, TTC) approached the Dutch Ministry to consider using this technology in the fight against HIV/AIDS. However, the Ministry responded: “We will not finance any renewal or innovation. It must be proven technology.”

Cordaid, a major partner of the Ministry, was active in the area of HIV/AIDS and was approached by TTC to collaborate. Initially, we were hesitant, but after several workshops, we realized the potential of this innovative idea as a breakthrough.

It required us to completely rethink our way of working. This was also the case for TTC, which had little experience working within such contexts. In order to collaborate fully, both organizations had to give up something to create space for a new way of working, which resulted in an impact far greater than anything achieved previously.

To succeed, we had to move beyond our own offices and include local clinics and other stakeholders. Creating the space for renewal and involving all stakeholders changed the approach to HIV/AIDS entirely. Much like the energy transition realizes distributed energy sourcing, this project allowed for drastically improved information sharing and decision-making.

This example has implications for our work as well. If we want to be more impactful, we must reach out to other stakeholders and find new collaborative models. It seems logical, but giving up something is difficult, especially for those in “northern” countries. In our cultures, we often rely on transactional models and are not taught to embrace collaborative ones.

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New Energy Nexus works with Community-based Organizations (CBOs) in Uganda to provide clean energy access to off-grid communities.

Here, we can take inspiration from living systems. The closest concept to collaboration is symbiosis — a mutualistic relationship where everyone benefits. We might even imagine reaching a point of ‘transcendence,’ where the collaboration creates something greater than the sum of its parts. True collaboration in this context occurs when two or more organizations adopt an open mind and heart, seeking congruence in the common good of human development, contributing to a better world with energy for all.

This also requires dispelling some myths surrounding the adoption of sustainable technologies. Through our work, we have seen that sustainable technologies can be adopted within underserved communities and made affordable.

To achieve this, we must design creative financing solutions, among other prerequisites, by carefully carrying out needs assessments. This requires time and resources to do well. But it can be done, and we have compelling evidence from several contexts in which we operate.

May this serve as an invitation to those in the sector, including those active in venture philanthropy, blended finance, technical assistance (including training), and especially social enterprises in the many countries where we work. Our mission requires an ecosystem that collaborates with a shared goal and common purpose: to make the world a better place, with clean energy as a transformative, decentralized power.


Henri van Eeghen is CEO of New Energy Nexus.

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California
Energy Finance
ConNEX Workshop: Securing Working Capital & Advanced Financial Planning
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Speakers at the ConNEX Workshop: Securing Working Capital & Advanced Financial Planning

On July 25, 2024, we hosted a virtual workshop on Advanced Financial Planning, attended by entrepreneurs from all over California and as far as Ethiopia. The event provided insights into the unique financial landscape for clean energy startups and featured the following speakers:

 

Key Takeaways
Chante Harris: Navigating Risks and Finding Value

Harris delved into the shifting landscape of clean energy funding. She highlighted the necessity for startups to communicate their intrinsic value beyond their technology and look for additional revenue and collateral options. Harris discussed blending public and private capital to transition projects from the research phase to viable businesses.

Harris also highlighted the importance of doing product market fit work before the product is ready. She encouraged entrepreneurs to ask:

“Who’s started to think about earmarking money for the specific problem you’re solving, and if they haven’t done that yet, how do you get them to?”

Scott Pitts: Creative Funding and Cash Flow Management

Scott Pitts shared insights on creative funding solutions, emphasizing the importance of finding financing partners who are open to innovative approaches. He provided the example of how his financing partner bought equipment and resold it to the startup, using collateral to secure more funding. Pitts discussed the need for high-fidelity cash flow forecasts and building strong relationships within the industry – before needing to ask for money.

“If you only manage your business based on the money you have in the bank, you have a capacity issue,” explained Pitts. He encouraged leveraging incubators and local venture/angel groups to find supporters passionate about clean energy.

“Find lovers with money.”

He urged entrepreneurs to find people who are excited about their technology and have the resources to invest.

Erin Davis: Simplifying Equity Raises and Financial Maturity

Davis encouraged founders to use SAFE notes (Simply Agreement for Future Equity) using the Y-combinator template. She stressed the importance of securing non-dilutive capital quickly and bridging funding gaps with loans. Davis highlighted the significance of maintaining well-organized financial records and building a robust pro forma. She encouraged companies seeking early-stage financing to visit Enduring Planet’s website and apply.

Strategic Advice for Startups

The session concluded with strategic advice for startups. Pitts emphasized the importance of having a backup plan and advised being prepared for potential capital crunches. Harris encouraged treating regulatory requirements as drivers of innovation and leveraging networks to increase funding access.


Resources & Tools

Funders & Accelerators

Grant Writing

Recruiting

Financial Management

Special thanks to our partner, Momentum, and funder, The California Energy Commission.

How did we do? Please take a short survey to help us improve this workshop series.

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Pakistan
Renewable energy tech
New Energy Nexus and Renewables First announce partnership to boost Pakistan’s climate tech ecosystem

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.

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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.

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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.”

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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

Media contacts:

Tristan Tremschnig
Global Communications Director, New Energy Nexus
tristan.tremschnig@newenergynexus.com
(based in San Francisco)

Komal Tariq
Manager Learning & Communications, Renewables First
komal.tariq@renewablesfirst.org
(based in Islamabad)

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 1,400 startups, empowered over 9,500 entrepreneurs, and mobilized over US$3.7 billion in investment. 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.

Follow NEX on LinkedIn, X, Facebook, and YouTube

Energy Finance
Meet the startups in our latest Climate Fintech Accelerator
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Startups joining the 2024 Climate Fintech Accelerator, a New Energy Nexus China program.

New Energy Nexus China and Yangtze River Delta Hi-Tech Park (Zhaoxiang) offered this year’s Climate Fintech Accelerator—an opportunity for startups to get invaluable mentorship, network, and training that will give them strategic advantages in this competitive space.

These startups from China, Thailand, and Singapore have stepped up to the plate, intent on jumpstarting their growth and driving sustainability at a global scale.

Arkreen

Arkreen is a Web3-powered data network for globally distributed renewable energy resources. They are building a digital infrastructure by utilizing the blockchain and incentivizing climate actors through regenerative financing.

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Akreen

CarbonEase

CarbonEase intends to lead the way in end-to-end and inclusive carbon management solutions—focusing on guiding enterprises, particularly in manufacturing, towards carbon neutrality. CarbonEase provides a one-stop low-carbon service package consisting of three modules and eight components. Through the CarbonEasy software as a service (SaaS) platform and a smart manufacturing carbon reduction ecosystem, CarbonEase enables customers to optimize efficiency and energy consumption, effectively reducing costs and carbon emissions.

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CarbonEase

CarbonPass

CarbonPass is a digital technology company that empowers international brands to achieve low-carbon international expansion and meet green compliance standards. Utilizing the Internet of Things (IoT), big data, AI, and blockchain, it offers comprehensive carbon neutrality and digital transformation solutions for global brands. With a focus on the sustainable compliance requirements of the ClimeCo Product Certification Program, part of the Amazon Climate Pledge Friendly (CPF) program, CarbonPass has built a digital service system that consists of 52 carbon compliance auditing and certification solutions.

Cero Global Limited

CERO is a personal carbon wallet that tracks carbon footprints with every transaction, converts green efforts into carbon credits seamlessly with the cross-border payment feature embedded, and monitors environmental impact.

DIGICARBON

DIGICARBON is a carbon finance and technology company that specializes in carbon pricing and finance. It provides a range of products integrating hundreds of database indicators and numerous standardized Application Programming Interfaces (API). These tools enable carbon price analysis, asset forecasting, trading, pricing, and more. With an interpretable machine learning analysis framework, DIGICARBON caters to various application scenarios including carbon quotas, sinks, green certificates, and beyond.

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DIGICARBON

SusallWave

SusallWave is a fintech firm focused on quantitatively evaluating sustainable development value — which measures if activities contribute to socioeconomic development without exhausting natural resources and incapacitating future generations. Using a green finance data platform based on attributes from various enterprises, it applies assessment models and algorithms in standard construction, quantitative assessment, data application, and technological empowerment. SusallWave offers products and services combining comprehensive data with product innovation; supporting green credit, bonds, supply chain finance, environmental, social, and governance (ESG) funds, and beyond.

SusallWave

SusallWave

Skyco2 

Skyco2 helps businesses calculate carbon emissions and manage carbon assets. It provides products such as carbon measurement edge all-in-one machines, digital carbon management and accounting systems, enterprise carbon assets management systems, and greenhouse gas emission accounting standard databases. Serving industries such as industrial, construction, and transportation, Skyco2 also provides MRV services and SaaS solutions. Since 2008, they’ve served clients across 15+ provinces, 100+ cities, and 20,000+ industrial sites.

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Skyco2

Tao Tan Lang

Tao Tan Lang, a wholly-owned subsidiary of Treasure Carbon, provides comprehensive digital solutions including these key products: a SaaS carbon management platform, a warrant management system, and a carbon credit rating system. These tools empower enterprises to achieve their environmental objectives and transition towards more sustainable practices.

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Tao Tan Lang

WeavAir

WeavAir offers a digital platform for direct measurement, reporting, and verification of greenhouse gas emissions for more effective ESG investment and energy transition implementation, financing, and insurance. It partners with financial institutions, providing high-quality data for SFDR Article 9 compliance and transparent risk models fueled by satellite data, enhancing analysis resolution by over 70%. Utilizing big data and AI, WeavAir enables real-time ESG risk monitoring of target companies and claims to reduce decision-making time and costs by at least 10-fold. WeavAir analytics helps broaden the investment universe, allows for the design and testing of portfolios, and supports shorter time to market for new funds.

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WeavAir


The 2024 Climate Fintech Accelerator is a rolling program and we’re looking forward to receiving applications from all over the world. Apply now and check out more information on our website.

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Transportation tech
New Energy Nexus to support LG Energy Solution’s Battery Challenge program for next-generation battery tech startups

June 4, 2024 – New Energy Nexus is supporting LG Energy Solution’s launch of its fourth Battery Challenge, a global startup competition to discover and support innovative early-stage startups to develop next-generation battery technologies.

The Battery Challenge is LG Energy Solution’s mainstay open innovation initiative. While helping the growth of the distinguished companies, LG Energy Solution also aims to pioneer next-generation technologies through partnerships.

As the manager and facilitator of this program, New Energy Nexus is supporting overall operation.

This year’s Battery Challenge is recruiting early-stage battery startups in: battery materials, battery management system, battery manufacturing and quality control, battery maintenance, battery recycling and reuse technology, smart factory solutions, and newly added metal sourcing, as well as ‘New to LG’. The new category called ‘New to LG’ has been established to encourage participants to explore various novel energy-related ideas, not necessarily linked to batteries.

The winners will be selected through comprehensive business plan evaluations, in-depth interviews, and technology verification, and will receive up to US$30,000, an increase of US$10,000 from the previous program. Awardees will also be reviewed by LG Energy Solution for potential investment.

New Energy Nexus is uniquely positioned in sectors and regions critical in the global battery supply chain. Our “Just Batteries” initiative aims to build an interconnected ecosystem to support a more inclusive and resilient battery sector. In the past ten years, we have operated seven programs across five countries or regions globally. We aim to build more equity into the battery supply chain – wealth, social benefits, jobs, among others – for all regions of the world that will benefit from this growing industry.

“At New Energy Nexus, we are dedicated to not only growing the EV industry but also accelerating the development of integrating cutting-edge battery solutions into the broader energy ecosystem. By collaborating with LG Energy Solution, we aim to drive global advancements in battery technology, support the adoption of EVs, and ensure a sustainable and resilient clean energy future.” said Andrew Chang of New Energy Nexus, who manages the global partnership with LG Energy Solution.

The Battery Challenge 2024 application window is from June 4 to June 30. For more information and to apply, please visit www.lgesbatterychallenge2024.com

Media contacts:

Tristan Tremschnig
Global Communications Director, New Energy Nexus
tristan.tremschnig@newenergynexus.com
(based in San Francisco)

Jasper Shen
Marketing Director, New Energy Nexus China
jasper.shen@newenergynexus.com
(based in Shanghai)

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 1,400 startups, empowered over 9,500 entrepreneurs, and mobilized over US$3.7 billion in investment. 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.

Follow NEX on LinkedIn, X, Facebook, and YouTube