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Thermal storage company MGA Thermal hires a former Shell Energy Australia executive as its commercial chief, with the appointment underpinned by a $17 million raise made earlier in the year.
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Long-duration heat storage maker MGA Thermal announced a A$17 million round with IP Group Australia as an incoming backer and Main Sequence continuing; IP Group's Shane Meaney joins the board.
Under IP Group Australia portfolio ·leads this story in the feed
MGA Thermal announces investment from climate-focused angel syndicate Electrifi Ventures, partnered with Climate Salad, joining ARENA's $2.5 million boost within its Pre-Series B round to advance industrial energy storage.
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MGA Thermal's own newsroom post announces another $2.48 million from ARENA, tripling the federal agency's support for its thermal storage demonstration project, with quotes from both organisations' chief executives.
Also @AuManufacturing·RenewEconomy·SmartCompany·Startup Daily·Startup Daily
Under ARENA ·leads this story in the feed
MGA Thermal's own announcement of a $5.7 million funding extension, lifting the recent round to roughly $14 million, with returning backers Main Sequence and Melt Ventures joined by new investor JEKARA.
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MGA Thermal won about US$400,000 (A$560,000) from Shell's GameChanger program to speed up its energy-storage demonstration plant near Newcastle, part of a pilot budgeted near A$3 million.
MGA Thermal won a $1.27 million grant from government agency ARENA, announced by federal politicians at its Tomago, NSW site, to build a 5 MWh thermal-storage demonstrator.
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Deals recorded from mgathermal.com's coverage. A round is listed once, however many of their articles mention it.
| Company | Stage | Announced | Amount | Investors |
|---|---|---|---|---|
| MGA Thermal | Unnamed stage | 4 Aug 2026 | $17m | |
| MGA Thermal | Unnamed stage | 13 Mar 2026 | $17m | |
| MGA Thermal | Bridge / extension | 3 Dec 2024 | ~$200k | |
| MGA Thermal | Grant | 18 Jun 2024 | $2.5m | |
| MGA Thermal | Bridge / extension | 16 Apr 2024 | $5.7m | |
| MGA Thermal | Accelerator | 19 Apr 2023 | $560k | |
| MGA Thermal | Grant | 2023 | $1.3m |
Companies named in mgathermal.com's articles, most-covered first.
| Company | What it does | Articles |
|---|---|---|
| MGA Thermal | Developer of Miscibility Gaps Alloy blocks for industrial thermal energy storage | 7 |
| Shell | 2 | |
| 5B | 1 | |
| Australian Government | 1 | |
| Climate Salad | 1 | |
| KKR | 1 | |
| Mgathermal | Thermal energy storage for industrial process heat | 1 |
| Shell Energy Australia | 1 | |
| Tronox | global chemicals and mining company | 1 |
Investors named in mgathermal.com's articles, most-covered first.
| Investor | What it does | Articles |
|---|---|---|
| Australian Renewable Energy Agency | 4 | |
| Australian Renewable Energy Agency (ARENA) | 2 | |
| Climate Venture Capital Fund | 1 | |
| Electrifi Ventures | 1 | |
| IP Group Australia | Venture firm backing early-stage science and technology companies | 1 |
| JEKARA | 1 | |
| Main Sequence Ventures | 3 | |
| Melt Ventures | 2 | |
| Pollination Group | 1 | |
| Understorey Ventures | Impact investment office backing climate and nature solutions | 1 |
| Varley Holdings | 1 |