A recently closed $11.5 million funding round will help Australian company GreenSync take its software platform to the world, says the company’s founder Phil Blythe.
GreenSync today revealed details of the Series B funding round, which included $5 million from the Clean Energy Finance Corporation through the Clean Energy Innovation Fund, and $5 million from Southern Cross Venture Partners through its Southern Cross Renewable Energy Fund. The remaining capital was provided by a private fund, Greensync said.
Blythe founded the company in 2010 and it had its first commercial launch with a customer in 2012 — Queensland’s Ergon Energy — making 2017 GreenSync’s fifth year of working with energy utilities.
GreenSync’s core software platform is designed to manage and orchestrate distributed electricity generation and storage systems.
“Distributed energy is a major transformational shift that we’re seeing in Australia, and Australia is very much at the forefront of this globally,” Blythe said. “As solar goes on roofs, as there’s an increase in renewables, as we’re starting to move away from coal-fired generation to wind and solar energy, we needed a quantum shift in the technology we use to manage grids.”
“No longer are we just using massive systems — generators that we’re switching on and off,” Blythe said.
