Funding boost signals confidence in smart energy storage systems

The Sunverge smart storage systems.

ARENA CEO Ivor Frischknecht said the new round of financing included a USD $20 million commitment from AGL Energy Limited (AGL) and was a clear signal of confidence in Sunverge’s smart storage systems.

“This USD $20 million commitment from AGL will see one of Australia’s largest energy companies join other investors – ARENA, SBCVC, Siemens Venture Capital and Total Energy Ventures – to bring new residential storage technology to the Australian market,” Mr Frischknecht said.

Read the ARENA story - “Residential battery storage in Australia gets big boost.”