# Red Earth Energy Storage

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/red-earth-energy-storage

- Industry: Energy Storage & Batteries
- Headquarters: Brisbane, Australia
- Website: www.redearth.energy
- Total disclosed funding: $50M
- Latest round: Series B (Jun 23, 2020)
- Investors on record: 2

## About

Red Earth Energy Storage Ltd. is an Australian company specializing in energy storage solutions that convert excess solar energy into a revenue stream, enhancing energy independence for its clients.Founded in 2013 in Brisbane, Australia, Red Earth Energy Storage Ltd. focuses on developing innovative energy storage technologies. The company has successfully completed three funding deals, with its most recent round occurring in October 2021, raising AUD 12 million in PRE-IPO funding led by Ord Minnett. Charles Walker serves as the CEO and founder, with a background in renewable energy development.Red Earth Energy Storage offers a variety of Australian-made energy storage solutions, including on-grid, off-grid, and hybrid systems designed to harness solar energy. Their flagship product, the "Private Power Plant," allows users to monetize excess electricity generated from solar panels. Each system is customizable and built in Brisbane to meet local standards, supporting a broad range of residential and commercial clients across Australia.In the year 2022, Red Earth Energy Storage reported a revenue of AUD 12,764,652, while its EBITDA for the same year was AUD -14,120,033, indicating operational challenges amid growth initiatives.Following its AUD 12 million funding round in October 2021, Red Earth Energy Storage plans to enhance its local manufacturing capabilities and expand its sales and marketing efforts. The company aims to finalize its electricity monetization technologies, which are critical for their future product offerings. These advancements are anticipated to position Red Earth for expansion into new markets, with specific geographic targets and timelines to be announced as development progresses.

## Funding rounds

- Series B, Jun 23, 2020, $50M — Crescent Point, Centurium Cap

## Investors

- Crescent Point (https://capitalatlas.ai/funds/crescent-point) — Series B
- Centurium Cap — Series B