Planet Ark Power Series A Investment Offering Round Launched

Brisbane-based technology and artificial intelligence start-up, Planet Ark Power, officially declared open their Series A Investment offering at the 24th World Energy Congress alongside dignitaries of the World Energy Council and German-Energy Agency (dena) on 9th September, 2019.

Executive Director Richard Romanowski announced the Series A round launch in the opening ceremony of the ‘Innovation Hub Pitch Stage’ with the support of Dr. Andreas Kuhlmann, CEO German-Energy Agency (dena), a champion of the global energy transition movement, and Angela Wilkinson, incoming Secretary-General of the World Energy Council.

“Six months ago, we were a small start-up in Brisbane working on solving the challenge of enabling solar on every roof to power our communities. But after being recognised by the World Energy Council, the global need for this technology has become evident to everyone. So, to pursue our mission to decarbonise not just Australia’s power grid, but global power grids, we have launched our Series A Investment offering.”

Planet Ark Power is currently exhibiting at the 24th World Energy Congress’ ‘Innovation Hub’, amongst other visionary start-ups working towards a decarbonised future. They are pitching their award-winning technology to global change-makers during the event.

Hosted in Abu Dhabi in 2019, the triennial World Energy Congress is the world’s largest energy industry event, offering a unique platform for global energy leaders to explore new energy futures, critical innovation areas, and new strategies. Transitioning to a clean energy future is a key part of this year’s dialogue.

In April, the technology platform, eleXsys™ by Planet Ark Power, was recognised as critical to the global energy transition movement and won the 2019 Start-Up Energy Transition (SET) Awards supported by the World Energy Council in Berlin.

“We are grateful to the leadership of the World Energy Council and the SET initiative for giving us this opportunity and supporting us as we embark on decarbonising global electricity grids. Planet Ark Power is excited to have joined this community of clean energy visionaries.”

eleXsys™ is a behind-the-meter artificial intelligence and power electronics technology which unleashes the full solar potential of every roof and encourages the creation of larger-scale urban rooftop solar farms. The technology applies to power grids worldwide and is applicable in two separate industries – rooftop solar supported by battery storage as well as off-grid community solutions.

Holding a first-mover advantage, Planet Ark Power has raised AUD22 million over 7 years with their most important stakeholder, Planet Ark Environmental Foundation, who licensed the use of their name in 2017 to further their mission of creating low-carbon lifestyles.

Series A round funds raised will be used to speed up commercialisation of the eleXsys™ to multiple sites in every state of Australia as well as facilitate global expansion with projects already lined up in France and USA.

Richard has advice for other start-ups who want to be part of the cleantech revolution: “Use this phenomenal opportunity offered by the World Energy Council and leave challenged, inspired. You also build connections with global leaders and entrepreneurs that is critical to building a clean energy future for our planet.”