Climate tech startup MGA Thermal raises $17 million
MGA Thermal, a Hunter Valley energy storage maker, has banked $17 million from IP Group and others to commercialise its heat-storage technology, lifting its total funding to $50 million.
Investor · 5 deals
Every published round Pollination Group took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Companies Pollination Group has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| FLINTpro | climate and agtech startup | 25 May 2023, Series A | 1 | 0 |
| MGA Thermal | Developer of Miscibility Gaps Alloy blocks for industrial thermal energy storage | Sep 2023, Bridge / extension | 4 | 0 |
Fund closes reported for Pollination Group, as distinct from the investments it has made.
| Fund | Announced | Committed | Target | Close | Sources |
|---|---|---|---|---|---|
| Climate and Nature Impact Venture Fund | 6 Jun 2024 | $150m | $150m | Interim | Startup Daily, AgFunderNews, SmartCompany |
Investors that coverage says has money in a fund Pollination Group runs. This is a stake in the fund, not in any company the fund has backed.
Companies Pollination Group has backed that another company then bought. An exit for the holding, not a deal Pollination Group did.
| Name | Role | Sources |
|---|---|---|
| Dr Carter Ingram | Managing Director | @AuManufacturing |
| Rob Grant | Head of Projects | ARENA, RenewEconomy |
| Diana Callebaut | Chief Investment Officer | Startup Daily, RenewEconomy, SmartCompany |
| Martijn Wilder | CEO (former) · Founder | Startup Daily (13 Nov 2024), Startup Daily (6 Jun 2024), RenewEconomy, SmartCompany, Startup Daily (23 May 2023) |
Stories naming Pollination Group. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
MGA Thermal, a Hunter Valley energy storage maker, has banked $17 million from IP Group and others to commercialise its heat-storage technology, lifting its total funding to $50 million.
Industry minister Ed Husic told a Tech Council summit the National Reconstruction Fund is close to its first investments after asking for a $300m drawdown; the piece recaps federal tech funding moves including PsiQuantum's.
Country Road's Climate Fund has named its second-year grant recipients: RediRobots gets $30,000 for automated textile sorting, Circular Sourcing $139,000 for a surplus-fabric platform, with two biodiversity projects also backed.
Queensland's investment arm is backing Melbourne's sports technology network to run accelerator programs for as many as 40 local sportstech startups, after its venture development fund recently committed to several venture funds.
Roundup of the week's agrifoodtech news: an Indonesian aquaculture startup's US$30m debt raise, a Queensland-backed climate fund close, several smaller raises, a micro-fulfillment firm's bankruptcy filing and an ag-analytics platform shutting down.
Investment firm Pollination has launched a $150m vehicle backing climate and nature start-ups, anchored by a cornerstone commitment from Queensland Investment Corporation, with first investments expected from late 2024.
Pollination has rolled out a $150 million fund for environmentally focused startups, anchored by Queensland Investment Corporation, and will begin picking companies late in 2024 across five sectors.
ARENA grants nearly $1.7 million to Aboriginal Clean Energy Partnership, a First Nations joint venture, funding phase one of a feasibility study for a renewable hydrogen and ammonia project in the East Kimberley.
Also RenewEconomy
A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.
Weekly roundup reporting eight Australian startups together raised $85.6 million across mining tech, cybersecurity, waste, energy storage, health and micromobility, plus a Google.org grant for Global Sisters.
Weekly roundup of seven Australian and New Zealand startup raises, headlined by a previously unreported $32 million seed for banking software venture Constantinople, plus new rounds for six other companies.
Also Startup Daily·Startup Daily·Techboard·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany·SmartCompany·AgFunderNews·Startup News (WA)·Forbes Australia·AgFunderNews