Think you know what it takes to succeed in the world of climate tech and entrepreneurship? Pitchfest 2023 provided an opportunity to put your judgement to the test.
Together with EnergyLab, we brought together ten of Australia’s most exciting startups for our second Pitchfest. From electric planes, to green steelmaking, solar panel recycling and more, we asked our listeners to decide which contender made the winning pitch.
Our entrepreneurs competed for the coveted title of 2023 Pitchfest champion. That came with a free legal health check from G+T Ventures, access to Cake Equity’s platform with mentoring, and more.
Each startup made their 60 second pitch, then answered questions from Nick and Alex.
And now... we are pleased to announce our winner as chosen by you: TasmanIon and co-founder Shalini Divya!
Clearly you're all wanting more storage solutions out there so it was great to see your support of an early-stage battery technology startup hailing from across the ditch!
You can read more about all of the 10 startups below
TasmanIon
TasmanIon co-founder and CEO Dr Shalini Divya shared the story behind her unique “aluminium-ion” breakthrough.
As the name suggests, her battery chemistry is developed around aluminium - the most abundant metal in the earth’s crust.
Shalini says in dollar-per-kw/h terms, aluminium-ion stacks up strongly, even though it doesn’t have the energy density of lithium ion.
“We are targeting industries that prioritise safety and dollar value over energy output,” she explains.
As well as offering the potential for value for money, she tells us that their aluminium-ion batteries are more sustainable and easy to recycle than chemistries that rely on exotic metals.
While the batteries can be used in personal devices, Shalini says they are well-suited to stationary energy storage where size and weight is less critical.
The chemistry has been validated by Germany’s Fraunhofer Research Institution, which found Shalini’s recipe can be produced by existing battery makers so may not even need a dedicated manufacturing facility.
TasmanIon completed a pre-seed round in 2021 and is looking to start raising capital in 2024. And hopefully being the winner of A Positive Climate’s 2023 Pitchfest will put her well on her way!
Renewable Metals
It’s no secret that our renewable future will need a lot of energy storage. That means a lot of batteries, and many of the metals that make up a battery aren’t easy to come by.
Thankfully, Western Australia’s Renewable Metals is giving the storage challenge some serious thought. To create a more sustainable and cost effective way to produce lithium ion cells, they are developing a circular system that recycles battery materials.
CEO Luan Atkinson tells us that the technology avoids the need to continually dig up fresh resources and is less environmentally harmful than their competitors.
“If you compare with virgin mining, clearly the recycling methodologies have significantly less emissions, more than 50 per less emissions than taking it directly out of the ground,” Luan told Nick and Alex.
At the end of a battery's life, their system can recover almost all of the critical metals, including lithium, nickel, cobalt and copper.
She says the lack of chemical byproducts, lower temperature process and higher recovery rates set them apart from other battery recycling technologies.
They already have an operational pilot plant and are looking to set up a commercial-scale facility in regional NSW.
“Our goal is to be the go-to technology globally for battery recycling. We can obviously do that through licensing our technology but we are keen to work with partners to build recycling facilities in various locations around the world.”
Pyrochar
Steelmaking may be one of the most hard-to-abate processes, but a Melbourne startup's coal-replacing biochar offers a way to reduce emissions.
Made from organic waste, Pyrochar’s metallurgical char (MetChar) can be used in both blast and electric furnaces to reduce the reliance on coal in the steelmaking process.
“The key advantage is that it has net zero carbon emissions associated with it… as you can imagine there’s a lot of emissions associated with coal, so from a steelmaker who needs to lower their emissions, it’s a very, very incentivised product to look at using.”
Scientists from the CSIRO developed the product, which Pyrochar manufactures at a pilot plant in Melbourne’s Notting Hill. Their current site can produce about 1000 tonnes of MetChar per year, but they are looking to ramp that up to 10,000 or 15,000 tonnes in the near future.
CEO Cameron Bell tells us that sourcing sustainable, reliable feedstocks is their biggest challenge. They use rice husks, corn husks, cropping waste, forestry residues and other organic matter to produce the biochar, which they say can reduce or even eliminate the need for coal in the steelmaking process.
Even with hydrogen and other zero emissions alternatives being developed to power furnasses, Cameron explains that, “we always will need a renewable source of net zero carbon for steelmaking.”
Demand is strong for their product. Pyrochar already has four steelmakers looking to buy 600,000 tonnes of MetChar per year.
Dovetail Aero
As Australia’s transport emissions grow rapidly, a Sydney startup is on a mission to convert the existing aircraft fleet to zero emissions propulsion systems.
Dovetail Aero’s focus is on the smaller end of the market, with an aim to electrify the types of aircraft that are used for island hopping, skydiving and accessing remote communities.
CEO and co-founder David Doral says electrification offers big benefits.
“We’re replacing turboprop internal combustion engines with electric motors, with batteries, hydrogen fuel cells… and basically we adapt that airframe into an almost brand new electric aircraft. It’s way more sustainable, way more cost efficient.”
Once converted, the planes produce zero emissions, are quieter and require less maintenance. They also offer 40 per cent lower operating costs.
To date, the company raised $5 million, with regional airline Rex the largest investor. They have also secured more than $4 million in grants and have more than $120 million in orders.
David tells us that he originally planned to develop an entirely new aircraft, but realised it would take a decade and cost hundreds of millions of dollars - at least. He says, “we realised there was a better business case and opportunity to modify existing airframes than developing a new aircraft from scratch.”
They’ve started with battery electric aircraft because they can bring their conversion to market relatively quickly, but are also developing a fuel-cell option that will enable more range.
Dovetail aims to launch their first experimental flights by the end of 2024 and have the technology in use on commercial routes within three years.
Orkestra Energy
We can all agree that reducing emissions is important, but it doesn’t hurt to also help energy users to understand how they will financially benefit from cleantech investments.
Melbourne’s Orkestra Energy has the answer.
Their software models the feasibility of energy projects. But unlike Excel spreadsheets, back-of-envelope calculations and other home-brew approaches, it is accurate, fast and makes the process easy.
Orkestra’s co-founder and CCO James Allston tells us the software offers a way to accurately model the benefits of investments, without the need for experienced engineers or analysts.
As well as saving money, he is confident the system will help to deploy renewable energy at the scale needed to achieve net zero emissions targets.
“We’ve got a huge growth that we need to see across the industry and we need to do that with basically the same resources we have today… We’re only going to achieve that through automation and software,” James explains.
The company recently closed a $2 million seed round and already has 60 customers on their books. They are aiming to expand into new regions, with the goal of signing up ten new customers in ten new markets, with a particular focus on Europe.
James says that he’s not afraid that AI will pose a risk to their business model, at least in the short term. He thinks it might help to improve their software, but can’t replace the value they offer.
“When we look at our specific area, the thing that stops many of these platforms is accuracy. You can’t produce an accurate build with AI… at least not today.”
Elecsome
Australia is a solar superpower. More than three million homes and businesses have installed rooftop panels, and the rate of installations shows no sign of slowing.
But as older solar systems reach the end of their natural life, and homeowners upgrade to unlock more efficiency, what can we do with the old panels?
Elecsome CEO Neeraj Das tells us that the answer is recycling.
The problem is that, until now, the process hasn’t been cost effective so most panels end up in landfill.
“Solar recycling is challenging because of the cost, complexity and environmental impact of separating and recovering the materials used in the modules,” he tells us.
Neeraj explains that the challenge will continue to grow, with 1.5 million metric tonnes of panels on track to be recycled by 2050.
To tackle the problem, Elecsome has developed a unique technology in partnership with the University of Melbourne and RMIT.
The company opened its first solar panel recycling plant in Gippsland in regional Victoria, where they proved it is possible to recover the silver, silicone and various materials for reuse.
They have since expanded into NSW and have plans to open more facilities around the country.
Their goal is to bring the cost of upcycling solar panels below that of putting them in landfill, without the use of harmful chemicals or incineration.
They are developing uses for the recycled materials, starting with Solarcrete - a concrete alternative made with recovered glass.
Savic
Electric cars are becoming a common sight on Australian roads, but where are the other kinds of electric vehicles?
Melbourne’s Savic Motorcycles is set to start delivering an electrifying two-wheeled option in the coming weeks.
Inspired by the styling of a 70’s cafe racer, Savic is offering two models of their electric motorcycle; the Alpha and Delta.
The higher performance Alpha offers comparable performance to a 1000cc petrol-powered bike, able to sprint to 100kph in 3.5 seconds and reach a top speed of 190kph.
As important as the performance is to prospective buyers, founder and CEO Dennis Savic says that getting the right look is vital.
“Normally people look at a motorcycle first and if they fall in love with it they are more likely to look into it a little deeper… hopefully they like our design.”
Savic is assembling the bikes in West Melbourne, with the first ten to be delivered before the end of 2023. Production will ramp up in 2024, when 20 bikes will be delivered every month.
They are targeting the premium end of the market, but have identified a large market for their models.
That starts by competing for the approximately $1 billion Australians spend on motorcycles every year. When they include New Zealand, the UK and Europe they predict that over the next twenty years there will be a $500 million market for premium electric motorcycles to tap into.
Dennis tells us that pricing is key, with their high performance models available at a cost comparable to petrol alternatives.
“How we compete against our direct competitors - that’s other electric high performance motorcycles - is on price. A lot of their prices are in the $40 to $60 grand mark…”
Savic’s 60kW Alpha comes in at $26,990, while the 40kW Delta is $19,990.
They anticipate demand will grow once they have test bikes available at the end of this year.
Within three to five years, Dennis says they aim to build 5000 motorcycles per year. In twenty years, he hopes to grow that to 100,000 per year.
Emmi
Emmi CEO Michael Lebbon opens his pitch with Blackrock founder Larry Fink’s words; “Climate risk is investment risk”.
He tells us that the company has developed a toolkit for investors to analyse risk across their holdings.
While much of our work on A Positive Climate focused on the opportunities in a net zero environment, Michael explains that he is equally aware of the risks.
“If we were to live within a 1.5 degree carbon constrained world today, over half of global stock market value is eroded overnight,” he says.
Beyond the physical risks of climate change, he says there are “millions, billions, if not trillions of dollars of financial risk.”
“What that means is there’s a huge amount of unpriced risk on company balance sheets.”
He says that Emmi’s customers are asset owners, asset managers and asset consultants. That includes super funds and other large investors that need to understand the climate risk across their portfolios.
Emmi’s products help these customers to understand what the net zero world looks like for them and identify the risks they face as the transition progresses.
That includes understanding how to align with changing regulations and protect against claims of greenwashing.
Across its four years, Emmi has secured approximately $5 million across three capital raises. They are working with large customers in Australia and New Zealand and are looking at ways to scale their offering around the world.
Bygen
Charcoal filters may be relatively common in our modern lives, but have you ever considered where the carbon comes from?
Bygen’s co-founder and CEO Lewis Dunnigan tells us that activated carbon was invented last century for use in wartime gas masks.
Day-to-day, we rely on it for a variety of uses. As well as treating drinking water, filtering air, and remediating soil, it is an essential part of the gold recovery processes and helps to reduce harm from industrial emissions.
While activated carbon helps to clean up many aspects of our modern lives, the process for creating it remains dirty. A reliance on coal, high temperatures and steam means that it produces large amounts of emissions.
But Bygen has developed a more sustainable method.
Their process replaces coal with organic waste - including nutshells - and actually sequesters carbon. The final product has excellent filtration properties, with one gram of activated carbon containing more than 800 square metres of internal surface area.
The company has three production facilities and is currently building its fourth. From there, Bygen plans to continue ramping up its output to meet an annual demand of four million tonnes of the material.
“We are at the point now where we’ve taken it from the lab where we were producing grams at a time all the way through to tonnes of production. We’re selling bulk quantities at the moment,” Lewis explains.
They are currently raising capital and looking for opportunities to collaborate with heavy industries that use activated carbon.
Perl Street
Our final pitch comes from Perl street co-founder and CEO Tooraj Arvajeh .
Perl Street has developed software to help asset managers to finance and oversee distributed energy investments.
They have more than 40 customers across their key markets, with teams based in Australia, the US and Germany.
Tooraj tells us that their software is suitable for everybody from small companies to large utilities and energy companies.
He explains that their customers typically have more than 50 assets under management, and the software helps with diversification and emissions reductions.
To date, Perl Street has raised USD $4.5 million to date and is looking to undertake a Series A in 2024.
