National Renewable Network (NRN) plans to fast-track the rollout of its renewable energy marketplace model – which includes providing households with solar and batteries at no cost to consumers – after raising $4.28 million (USD 2.78 million) in a pre-Series A funding round.
NRN said the new funding will allow the company to prepare for its Series A round in 2025 and establish a $50 million debt facility to drive further expansion and operational scale of its renewable energy model.
Founded in 2021, Sydney-based NRN’s model links households, solar retailers, energy companies, and infrastructure investors.
NRN founder and Chief Executive Officer Alan Hunter said the company’s platform eliminates upfront costs for families by enabling energy retailers to offer solar and battery systems as part of energy plans. The approach hinges on the value aggregated distributed energy resources can provide to the retailers.
“We are disrupting the marketplace by redefining how households access renewable energy, eliminating upfront costs, and integrating solar and battery systems into energy plans,” he said.
“This innovative approach transforms the traditional energy model, creates a seamless connection between consumers, solar retailers, energy companies, and investors, and drives widespread adoption of renewable energy solutions.”
Hunter said the model has gained significant market traction in the past year, with monthly renewable asset sales increasing from $250,000 in January to $3.5 million in November.
“Our business has grown 1,300% in under a year … and we’re just getting started,” he said. “Our goal is to deploy solar and battery systems to 2,000 homes per month over the next 18 months.”
NRN said the new funding will allow it to build the infrastructure, strengthen partnerships, and streamline pathways to continue expanding its market.
The capital raise included investments from the Club Investible network, Electrifi Ventures, Jelix Ventures, and Ecotone Partners.
The round follows a $1 million bridge round earlier this year led by Investible’s Climate Tech Fund and a $13.5 million raise in December.
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