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18 October 2021 | Update

RedEarth Energy Storage Ltd


RedEarth Energy Storage Ltd

Red-hot run

Homegrown renewables company, RedEarth Energy Storage Ltd, provides Australia’s only domestically-built energy storage solutions for residential, commercial, and industrial use, with the only approved battery (“Troppo”) and integrated off-grid system (“BlackMax”) on Australia’s Clean Energy Council list.

The Australian-owned company has developed its own integrated technology stack and has established a network of 1,000 systems hardened in the field since 2013. Early field trials show returns of up to 15x those generated by solar feed-in tariffs. The systems are designed to be modular and scalable so as to serve the evolving needs of customers as more things become electric. RedEarth is dedicated to the longevity of its systems, with versatile products, remote monitoring, and a network of trusted technicians.

In 2020, RedEarth launched its Personal Power Plant (PPP) to further empower customers to make money from their investment in renewables, not just to save money on their electricity bills. It will form a critical element in the mass distribution of renewables, making Australia self-sufficient in green energy.

“We are committed to our vision of continuing to empower our customers with new possibilities of not only saving money by switching to solar electricity but making money. This is unique in an industry dominated by partial foreign offerings”, said Charles Walker, Co-Founder and CEO of RedEarth.

Investment interest is high, with the company recently announcing an oversubscribed $12 million Series A funding round, led by Ord Minnett Private Opportunities Fund and supported by Baker Young Corporate Advisory, to fund the company to an ASX listing in 2022. RedEarth will use the funding to further accelerate its local manufacturing, sales, and marketing efforts, as well as specific research and development to finalise its electricity monetisation technologies ahead of listing. As one of the only mainstream Australian-owned and made options in the renewables space, RedEarth intends to pursue a listing on the ASX to enable its customers and investors to own shares in a company that serves them and their evolving energy needs.

The company has experienced over 60% quarter-on-quarter growth in revenue for the last thirteen quarters, with the expansion of distributed energy storage adoption a very significant tailwind.

“The way the world generates, distributes, and uses electricity is undergoing fundamental change right now. RedEarth is at the forefront of that change with our fully vertically integrated offerings for both on-grid and off-grid customers.  We plan to make significant reinvestments in additional research and development as RedEarth grows, to ensure the company’s products remain at the forefront of Australia’s growing sustainable energy needs”, said Chris Winter, Co-Founder and CTO of RedEarth.

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Fee Disclosure
Baker Young Limited (“BY”) participated in the RedEarth Energy Storage Series A raise in October 2021 for which it received fees for those services. BY is mandated by the company to provide corporate advisory services including joint lead management for the purpose of raising funds for which it has received, and will continue to receive, fees for those services.

General Disclaimer
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