Masoud Abshar

Australian home battery upstart banks “strategic investment” towards manufacturing plans

Magellan Power, a Perth maker of energy storage systems, has brought in Viburnum Funds as its first private equity backer, a stake reported at $15 million, to fund local battery manufacturing and recycling.

Also RenewEconomy

Australian battery manufacturer seeks funds for significant expansion as home battery market booms

RenewEconomy profiles Magellan Power, a Perth battery systems maker founded in 1991, which is looking for capital to expand manufacturing and recycling, including its new Karri home battery, as rebate-driven demand surges.