Global recognition and expansion for Planet Ark Power’s AI and clean energy technology

Key Takeaways:

  • The Planet Ark Power eleXsys™ technology was recognised on the global stage by the German Energy Agency (dena) and the World Energy Council through winning at the Start up Energy Transition (SET) Awards 2019 in Berlin. Our Brisbane-based power electronics and AI software technology start up can now rightly claim to be a leader in the global energy transition to a distributed renewable energy grid.
  •  The Awards, a part of the 5th Berlin Energy Transition Dialogue, were held in April 2019. Planet Ark Power won the category of ‘Intelligent Grids, Platforms and Cyber Security’. The pitch on our innovative grid-transforming power electronics and software solution – eleXsys™ – received unanimous support from the 30-member jury of global energy and climate change experts. More than 450 companies from 80 countries had applied for the awards.
  •  Win at SET meant gaining a seat at the global energy leaders’ roundtable at the 24th World Energy Congress held in Abu Dhabi.
  • Brand and new company name announcement of grid transforming technology: eleXsys™
  • Largest commercial single-site Virtual Power Plant in the world underway in South Australia with Planet Ark Power’s technology
  • Global expansion underway with a new office in Singapore opened in September to add to those in Melbourne, Sydney and Brisbane. London office to open in December.
  • Partner in a $700 million Community Microgrid project in California
  • MOU signed with a major French research agency for demonstration in France
  • More than 15 patents in development
  • Leading role in the R.A.C.E to 2030 CRC submission to the federal government of Australia, to accelerate energy transition
  • 15 MW of solar installed across Australia
  • Completion of 41-site solar roll-out program for Regis Aged Care
  • Doubled revenue year on year, for the 4th year in a row

Capital raised in 2019

  • $2.0 million of convertible debt issued (outside of Series A);
  • Strong global interest for Series A: the potential of eleXsys™ to transform the power grid has been resonating internationally, with significant investor interest from London, Singapore, Australia, Abu Dhabi and California. Planet Ark Power has started investor due diligence with private equity and infrastructure funds from Australia and the UK.

New contracts, MoUs, major clients signed

  • Commercial close reached with multinational in respect of the largest commercial single-site Virtual Power Plant (a grid-interactive micro-grid) in the world, located in Adelaide with Planet Ark Power’s technology. This is a unique $7.0 million flagship site with multinational furniture retailer in South Australia
  • Demonstration as a part of a $700 million Community Microgrid project in California underway to help the transition to clean energy in the USA
  • MOU with a major French research agency for a technology demonstration in Nice, France
  • Currently developing global use cases

New products being released

Flagship technology, eleXsys™, the future of electricity networks; creating two-way clean energy grids and unlocking the full potential of rooftop solar, ready for market deployment in 2020

Progress on technology

More than 15 patents underway in the electrical power regulation field

Additions to staff, Board 

  • CEO of Planet Ark Environmental Foundation, Paul Klymenko, joins the Board
  • Global investor relations team created; includes
    • Singapore – John Coates, technology entrepreneur, over 10 years’ experience in the renewable energy industry
    • UK – Andrew Jennings, serial entrepreneur with over 25 years’ experience in technology, retail and FMCG industries

Involvement in significant events and/conferences

  • World Energy Congress (WEC24), Abu Dhabi, UAE
    • Exhibited as a world-leading energy transition technology
    • Attended the World Energy Leaders’ Summit CEO Roundtable
  • Berlin Energy Transition Dialogue, Berlin, Germany
    • Attended as an exemplar of world-leading energy transition technology
    • Representative on the panel discussion on energy transition
  • Start up Energy Transition Awards, Berlin, Germany
    • Winner, Start up Energy Transition Awards 2019
    • Selected into the Top 15 from a pool of 450 applicants from 80 countries

  • Future in Review Conference, California, USA
    • Invited to present as a company on the cusp of making great strides in improving the world

  • All Energy Conference, Melbourne, Australia
    • Moderated a session on Microgrids and related technologies
    • Presented discussions on Virtual Power Plants and other renewable energy technologies

 

Awards 

  • Start up Energy Transition Awards 2019;
    • Category ‘Intelligent Grids, Platforms and Cyber Security’ awarded by German Energy-agency (dena) and World Energy Council.
  • Innovation X-Change Fish Tank at University of Technology Sydney 2019;
    Voted ‘Most Promising Disruptive Clean Energy Start Up’

Media publications

 

About Planet Ark Power

Planet Ark Power is looking to dynamise the world’s energy grids with distributed clean energy. They were recognised as an energy transition pioneer at the 2019 Start-Up Energy Transition Awards in Berlin for its game-changing behind-the-meter technology.

Planet Ark Power’s technology allows every rooftop to be filled with solar panels, resulting in a 1,300% increase compared to today’s limitations. Their unique solution can also cut the cost of supplying energy off-grid and in the developing world, by delivering off-grid clean energy at up to 75% less than current diesel or renewable alternatives.

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