Evergen is on a mission to bring Australia smart energy

By Allen Jack

Following successful crowdfunding, one of Australia’s fastest-rising energy companies, Evergen, is on course to deliver its smart energy goal to the country.

Having so far raised AU$6mn in a Series A funding round, the company is pushing forward. Recently, in the wake of the nation’s bushfire emergency, it deployed standalone power systems and solar-powered batteries to bolster grid stability. 

Following watershed agreements with 8 Star Energy and Solar Service Group, Evergen is now a poised to become a SaaS (Software as a Service) provider both internationally and domestically. 

A company with a plan

Commenting on Evergen’s ambitious plans, Ben Hutt, CEO and MD, said, “Our mission is to control and orchestrate enough distributed storage in 10 different markets that we can effectively replace the capacity of a coal-fired power station in each market by 2023.”

Regarding the aforementioned deals, Hutt claims it will “transform Evergen to a globally scalable software platform that enables long term annuity stream revenues, and our forecast for recurring SaaS revenues is expected to be in excess of $20 million by the end of 2024.”

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With many countries currently engaged in planning for how the environmental targets of the Paris Agreement can be met, companies like Evergen will have a significant role to play in facilitating the necessary energy transition. 

Focusing on battery storage tech and optimisation software to run it efficiently, the company is counting that Australia’s energy consumption - still majorly provided for by fossil fuels (79%), although incrementally growing yearly - will surge towards renewables.

 “This is a transformation that is relevant for humanity, so whilst Evergen is a commercial enterprise, the fact that we are actually doing good for the world and undergoing this transition, motivates our amazing team,” stated Hutt.

“We are all excited and we are here because of the strong interest and support from the local and international investor community.”

For more information on business topics in ANZ, please take a look at the latest edition of Business Chief ANZ.

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