# Evergen

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evergen-pty

- Industry: Energy Storage & Batteries
- Headquarters: Australia
- Website: www.evergen.com.au
- Total disclosed funding: $13M
- Latest round: Series B (Jun 20, 2022)
- Investors on record: 5

## About

Evergen Pty Ltd is an Australian company specializing in advanced software solutions for the management and optimization of renewable energy resources and utility-scale assets.Founded in 2016, Evergen Pty Ltd is focused on developing innovative technologies for renewable energy management. The company operates out of Australia and has not undergone significant strategic pivots. Evergen has successfully raised funding through various rounds, with its most recent being a Series B round in June 2022 where it secured AUD 13.65 million led by Fotowatio Renewable Ventures, alongside investors like AMP Capital Investors, Artesian, and Providence Climate Capital. The total amount raised by the company stands at AUD 13.65 million, and it has completed 8 deals to date. The current valuation of Evergen is AUD 36.714 million. Ben Hutt serves as the CEO of the company.Evergen specializes in software platforms designed for the monitoring, control, optimization, and orchestration of various distributed energy resources and utility-scale assets. Their flagship product, the Distributed Energy Resource Management System (DERMS), empowers stakeholders within the renewable energy sector—including energy consumers, producers, utilities, and project developers—to manage energy use and production efficiently. This cloud-native platform enables real-time access to critical data, facilitating informed decision-making to optimize energy management and enhance the benefits of renewable assets. Evergen's solutions cater to a diverse clientele across several geographical markets, including Australia, New Zealand, and parts of North America and Europe, addressing specific use cases such as energy consumption optimization for households and performance enhancement for commercial energy storage systems.Evergen generates revenue primarily through a subscription model, offering its software solutions to various clients including energy retailers, original equipment manufacturers (OEMs), and commercial and industrial (C&I) entities. This transactional structure allows clients to integrate Evergen's tools into their existing energy management frameworks, fostering strong partnerships and facilitating ongoing software usage. Clients benefit from tailored pricing plans that are aligned with the scale of their operations and specific use cases while also encompassing potential add-on services for enhanced functionality. Evergen’s products, particularly the DERMS and associated optimization tools, are integral to these transactions, ensuring that users can maximize the value derived from their renewable energy investments.In June 2022, Evergen Pty Ltd raised AUD 13.65 million in Series B funding to advance its software and improve the benefits of large-scale renewable energy and battery projects. The company aims to enhance its existing products and develop new solutions to better serve its clients. Evergen is focusing on expanding its market presence in North America and Europe by the end of 2023, targeting regions with high demand for renewable energy management solutions. The recent funding will be instrumental in supporting these initiatives, allowing Evergen to innovate and adapt to the evolving energy landscape.

## Funding rounds

- Series B, Jun 20, 2022, $9.5M — AMP Capital Investors, Fotowatio Renewable Ventures, Artesian, VentureCrowd, Providence Climate Capital
- Series A, Oct 1, 2019, $3.8M — AMP Capital Investors, Artesian, VentureCrowd

## Investors

- AMP Capital Investors — Series A, Series B
- Artesian (https://capitalatlas.ai/funds/artesian) — Series A, Series B
- VentureCrowd — Series A, Series B
- Fotowatio Renewable Ventures — Series B
- Providence Climate Capital (https://capitalatlas.ai/funds/providence-climate-capital) — Series B