Solar and battery start-up RedEarth’s SunRise home battery has become the
Founded in 2013 by the co-founder of ASX-listed RedFlow, Chris Winter, and Charles Walker, an investment banker and former head of corporate development at RedFlow, RedEarth is one of Australia’s first owned and operated domestic producers of energy storage systems for residential, commercial and industrial use.
In August, the company locked in $4.75 million in Series A funding from government, institutional and family investors. The government funding came from the $80 million Business Development Fund, which was established by the Queensland Government to help businesses commercialise cutting-edge research, or innovative ideas, products and services. The first company to receive support through the fund was the supplier of electric vehicle chargers, Tritium.
In the next four years, RedEarth aims to manufacture over $70 million worth of battery systems and to invest in additional research and development.
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