Origin Energy invests 20% stake in Australian decarbonisation scaleup Climatech Zero
Climatech Zero, a market-leading energy management and decarbonisation partner for industrials, has entered into a strategic partnership with Origin Energy.
Under the deal, Origin Energy acquired a 20 per cent stake in Climatech Zero, providing material growth capital and opportunities for collaborative go-to-market initiatives that will support the company as it scales.
Climatech Zero is on a mission to help customers optimise energy consumption and meaningfully reduce their carbon footprint.
As a tech-enabled specialist provider of energy management, energy reduction and decarbonisation solutions, Climatech Zero supports industrial companies across sectors including mining, manufacturing and food production. Its deeply experienced engineers, data analysts and project managers deliver a combination of leading technology and hands-on solutions to deliver projects with meaningful energy, carbon and cost savings.
Climatech Zero designs and delivers projects that guarantee the reduction of energy use, carbon emissions and energy costs for large industrial customers. Across a total of 29 projects to date, $4.5M in cost savings, 29,532t in reduced CO2 emissions, and 37,770,224 kWh in energy savings have been achieved.
Operating across Australia and New Zealand, Climatech Zero has strong customer retention across its customer base including major industrials.
Co-Founder and CEO of Climatech Zero, Peter O’Connell said, “This partnership was born out of a mutual passion for aligning with the needs and ambitions of our large industrial customers to use less energy and reduce emissions. We’re thrilled to partner with Origin in delivering on that ambition and we commend Origin for continuing to be ahead of the curve. Our expertise providing transition services behind the meter combines perfectly with Origin’s forward-thinking goals to support clients through the energy transition.
“Our business continues to grow year on year – we’re on target for 300% revenue growth in FY2024 off a strong base. From an ambitious start-up in 2018 to now generating double-digit million revenue, having the support of one of Australia’s leading energy companies is significant and offers potential for further growth.
“Working together with Origin, we can offer more value to Australian industrial companies. Our resources, technology and skills can help customers underwrite new investments, improve existing operations and ultimately accelerate the energy transition journey.”
Climatech Group and Peter O’Connell founded Climatech Zero in 2018. Climatech majority funded the growth of the company and played a major role in sourcing clients and adding engineering and project management skills until Climatech Zero became self-sufficient. Climatech is one of Australia’s largest HVAC and refrigeration businesses serving large commercial buildings, data centres and industrial projects in four states and New Zealand. Climatech has a commitment to decarbonisation and assisting clients with energy management.
