Melbourne energy management company attracts funding for commercialisation

Melbourne’s carbontrack which provide energy management technology was today announced as one of 15 projects to receive a share of $25.1 million, with $17.95 million coming from the manufacturing industry and $7.16 million from the federal government’s Advanced Manufacturing Growth Centre, intended to help Australian companies commercialise their offerings.

Carbontrack launched in Australia in 2015 and has been on a speedy global ascent. Its technology has both hardware and software components which allow users to monitor and control electricity consumption. It can be retrofitted and isn’t limited to smart appliances, homes or brands.

The solution also has an autopilot feature, essentially an algorithm which automates energy use to get the most cost-effective outcome by assessing appliance use and deeming it essential and non-essential.

Carbontrack has been awarded a $877,000 share of the funding, including $428,500 in grant funds, which CEO Brenton Spear said would go towards the continued development of its technology.

Managing Director of the Advanced Manufacturing Growth Centre, Dr Jens Goennemann, said Australia’s manufacturing industry was ready to get to work. “All 15 co-funded manufacturing projects are expected to generate higher-paying, more resilient jobs onshore, while providing significant export opportunities of high-quality Australian products abroad,” he said.

“These projects also demonstrate the multiplier effect of manufacturing, not just in terms of industry committing significant funds, but also in the fact that for every direct manufacturing role, 3.6 complementary jobs are created elsewhere in the economy.”

Carbontrack’s technology is currently being used by energy companies in Australia, New Zealand, South Africa, Botswana, Kenya, USA and the UK.