Jakarta, 18 January 2024 – Three climate tech startups from New Energy Nexus Ventures’ (NEX Ventures) portfolio in Indonesia – Swap Energy, SolarKita, and Synergy Efficiency Solutions – have secured additional investments totalling US$31 million for 2023, including follow-on funding.

“Despite a 40% decrease in global funding across the climate tech sector last year, these three startups have demonstrated their resilience by achieving success in fundraising,” said Yeni Tjiunardi, Managing Director at NEX Ventures.

“We are committed to supporting disruptive and agile startups and founders that can accelerate the clean energy transition. Our optimism extends to the potential opportunities for emerging early-stage ventures in addressing climate challenges, not only in Indonesia but also in other Southeast Asian countries, such as the Philippines and Vietnam.”

The three startups are deploying solutions critical to Indonesia’s climate and energy goals, ranging from solar to energy storage:

• SolarKita is a solar energy company that provides end-to-end solar services for the residential market in order to build an integrated community of rooftop solar users in Indonesia.
• Synergy Efficiency Solutions (SES) is mainstreaming energy efficiency  in Southeast Asia by designing, financing, and implementing a range of energy efficiency solutions.
• Swap Energy is rolling out swappable battery technology that allows riders to effortlessly exchange depleted batteries, propelling the EV revolution of two-wheelers in Indonesia.

NEX Ventures aims to catalyze early-stage investments in the clean energy and climate sector by investing and collaborating with other investors, and providing strategic guidance to support its portfolio companies. Indonesia 1 Fund has co-invested with Schneider Electric Energy Access Asia (SEEAA) in SolarKita and with Southeast Asia Clean Energy Facility (SEACEF) in SES. Additionally, Swap Energy secured US$22 million investments for their Series A round by the end of December 2023.

NEX Ventures, through its Indonesia 1 Fund, has invested in seven climate tech companies and deployed four follow-on investments since 2020. These companies have been performing strongly, attracting over US$70 million of investments from other investors since joining the fund while also tackling climate and energy challenges. To date, Indonesia 1 Fund’s portfolio companies have reduced over 165,000 tons of CO2 emissions, equivalent to planting almost eight million trees.

SolarKita

“The funding received from Indonesia 1 Fund and SEEAA allows more rapid penetration into the residential market. This milestone marks the initial phase of SolarKita’s overarching expansion plan to reach 18MWp solar PV installations equivalent to 6000 houses by the next three years,” said Amarangga Lubis, CEO of SolarKita.

The funding will strengthen the company’s fundamentals, refine product quality, and expand its network of installers and sales partners across Indonesia.

“As part of SEEAA’s mandate to accelerate the transition towards renewable energy and net-zero, we are excited to support SolarKita in their mission to make solar rooftop solutions accessible for residential homeowners and small businesses. Sustainability calls for collective action and we believe this joint investment from SEEAA and New Energy Nexus will be a critical catalyst in helping more people be part of the energy transition journey,” said Gilles Vermot Desroches, President of Schneider Electric Energy Access Asia (SEEAA).

Synergy Efficiency Solution

Synergy Efficiency Solutions (SES) intends to utilize the funding from Indonesia 1 Fund and SEACEF to fund capital expenditures for its growing portfolio of energy-saving projects. The timing of this follow-on investment coincides with the award of the Energy Transition Partnership (ETP) Grant to SES.

Swap Energy

Swap Energy has successfully raised a total of US$22 million in its Series A round in December 2023. This latest round was led by Qiming Venture Partners, with participation from GGV Capital and existing investor Ondine Capital. The company has more than 1300 battery swapping stations across Indonesia. They have also partnered with many companies such as Grab to develop an integrated EV ecosystem in Indonesia.

Oakland, USA, 13 December 2023 – New Energy Nexus’ Board of Directors today announced it has launched its global search for a successor to its outgoing CEO, Danny Kennedy, who will continue in his role into 2024 and support an orderly leadership transition. 

In 2015, Danny accepted the role of Managing Director of the California Clean Energy Fund, renamed New Energy Nexus in 2018 to align with his vision and, with the Board’s support, extend its mission around the world.

From a small team focused on supporting the success of clean energy entrepreneurs in California, New Energy Nexus, under Danny’s leadership, has grown to support more than 6000 entrepreneurs and over 1000 startups. The team has also raised more than US$100 million to deliver as grants, debt, and equity into these companies, which has driven billions of dollars of value creation, jobs and climate solutions globally. New Energy Nexus now has offices in 12 countries, with a team of more than 150.

“Danny Kennedy’s vision and passion to accelerate the drive and reach of global clean energy entrepreneurs has succeeded well beyond our expectations,” said Julie Blunden, Chair of the Board. “His leadership of our outstanding global team supporting clean energy entrepreneurs from the Philippines to Uganda and California to India has created lasting impact, incubating businesses and accelerating them to drive climate solutions around the world.”

“New Energy Nexus is ready for the next stage of growth and impact,” said Danny Kennedy, New Energy Nexus CEO. “I have been incredibly lucky to work with 150 amazing champions of climate solutions as their Chief Energy Officer across New Energy Nexus. My heroes are this team and the thousands of entrepreneurs we seek to support, who are driving deployment of  solar, wind and batteries and doing the hard work of electrifying everything.”

“Launching the Clean Fight in New York; partnering with Tsinghua University in China to start the Energy Internet Innovation and Entrepreneurship Center in Chengdu; building Third Derivative with RMI; hosting New Energy Nexus’ ReSpark Festivals in Indonesia; and launching our recent COP28 Accelerator and program in the UAE – all these milestones and more will be hard to beat in my professional career,” said Kennedy. “It is now time for a new leader to take the organization to the next level. I cannot wait to see what New Energy Nexus achieves next as I move into my next phase of leveraging innovation for climate solutions.”

“New Energy Nexus enables clean energy entrepreneurs and their technologies, solutions, and businesses to benefit the entire planet, with a focus on programs to attract underrepresented entrepreneurs,” said Blunden. “Replacing Danny Kennedy will be a challenge, and we will seek diverse candidates globally that have expertise aligned with our intersection of not-for-profit management and entrepreneurship.”

A Californian-born Australian, Kennedy has been working for climate and energy solutions since the 1980s. He served in senior roles at Greenpeace and other nonprofits before a successful career as a solar entrepreneur, helping to start several companies including Sungevity, Mosaic, Powerhouse, Sunergise, Powerhive and Solar Philippines.

5 December 2023, Abu Dhabi – New Energy Nexus (NEX) today announces new opportunities for climate tech startups to grow in the United Arab Emirates (UAE)

New Energy Nexus is the Program Operator for Hub71’s new program to support early stage climate tech companies from around the world, and is partnering with the Abu Dhabi Investment Office (ADIO) to help growth and later stage climate tech companies set up and land in Abu Dhabi.

Danny Kennedy, CEO at New Energy Nexus, said: “One thing we’ve learnt from building entrepreneur support ecosystems in 12 countries for nearly 20 years is that good ideas and talk are not enough. We need capital, talent and demand. Diverse entrepreneurs are essential elements to the clean energy transition due to their ability to innovate quickly, disrupt industries, and launch and scale rapidly. And for its part, the UAE is a good place for clean energy startups to land and to find capital; as well as mentors, partners and customers. With ADIO and HUB71, we have well established partners to support startups around the world to access this huge potential and accelerate climate solutions across the region.”

Jamie Levy, Senior Advisor at ADIO, said: “We’re incredibly excited to be working with COP28 to host the New Energy Nexus COP28 Climate Tech Startup Accelerator to support 100 global climate tech startups. We’re attracting the world’s leading climate tech companies to Abu Dhabi to benefit from the Emirate’s positive and enabling investment environment. We empower companies by accelerating their growth, amplifying their impact and providing access to strategic opportunities across key markets and sectors.”

Ahmad Ali Alwan, Deputy Chief Executive Officer of Hub71, said: “As the world demands urgent climate action, we recognize the future hinges on innovative solutions. Startups are at the forefront of harnessing breakthrough technologies, so we created Hub71+ ClimateTech. This collaborative ecosystem offers a platform for climate innovators to thrive, with the support of world-class partners committing substantial capital and expertise. ClimateTech is not just a pathway to decarbonization but offers a solid foundation to contribute to a sustainable future for our planet. We are not only investing in the success of environmentally focused entrepreneurs but collectively empowering ClimateTech startups to scale globally from Abu Dhabi while making a positive impact that will further promote a net zero future.”

With ADIO, New Energy Nexus aims to strengthen capacity building of startups and increase their access to capital, strategic investors and the wider Abu Dhabi ecosystem.

Hub71 has launched with several partners a program called Hub71+ ClimateTech of which NEX is an implementing partner. Other partners of Hub71+ ClimateTech have committed over AED12 million (US$3.26 million) in 2024 to support the growth of climate tech startups, which will be able to leverage the knowledge and expertise of more than 25 corporate and investment partners and policymakers. This access will enable startups to explore commercial opportunities and tap into venture capital partners and investors looking to make impactful investments in climate tech.

Startups will also enroll in a customized and sector-specific three-month course to receive expert mentorship, tailored advice and critical support. Additionally, the supporting partners will collaborate to explore the future of climate tech, funding availability for climate ventures and pathways for startups to play a more significant role in the journey to Net Zero.

About Hub71

Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.

Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development.

For more information visit www.hub71.com and follow us on @Hub71AD #Hub71.

About Abu Dhabi Investment Office (ADIO)

The Abu Dhabi Investment Office (ADIO) enables local, regional and international investors to thrive and grow in the UAE capital through its close collaboration with government partners, sovereign investors, and national champions. ADIO is Abu Dhabi’s premier platform that empowers the private sector to grow, partner and compete globally by providing access to growth opportunities, strategic partnerships and new markets across key sectors that range from real estate and infrastructure, to industries and agribusiness, enhancing the nation’s investment in talent, innovation and sustainability.

With a growing network of global offices, investors can contact ADIO by visiting its head office in Abu Dhabi or international offices located in Beijing, Frankfurt, London, New York, Paris, San Francisco, Seoul, and Tel Aviv.

Visit https://www.investinabudhabi.gov.ae for more information.

Oakland, CA 13 September 2023 – The California Sustainable Energy Entrepreneur Development (CalSEED) program is thrilled to announce that 27 new Concept awards have been approved by the California Energy Commission (CEC).

For the Concept award, 27 companies out of 153 were selected to receive grants of US$150,000 to develop their breakthrough technologies. In total US$4 million of CEC EPIC funds will be invested in clean energy innovations throughout California.

“The CalSEED program has been successful in helping entrepreneurs working on promising climate solutions to get the support they need to scale up,” said David Hochschild, Chair of the California Energy Commission (CEC).

“Through the California Energy Commission’s EPIC research program, CalSEED is helping entrepreneurs turn great ideas into marketable solutions and providing benefits to California ratepayers.”

Concept awardees went through a rigorous process including a review with CalSEED’s curated review committee, who offered their time and expertise to score applications for technical merit, potential for social impact and energy equity, and team expertise. CalSEED’s solicitation is designed as a call for early-stage clean energy innovations that fall within the following technology areas: energy storage, DER integration and load flexibility, transportation electrification, building decarbonization, and industrial decarbonization.

“We’re thrilled to see so many clean energy entrepreneurs who are not only developing cutting-edge technology, but also thinking about circular and inclusive designs in the way they’re implemented” said Rebecca Lee, Managing Director New Energy Nexus California Programs. CalSEED is a program of New Energy Nexus in California.

Each year the CalSEED program selects new and emerging clean technology areas to fund to help California meet its climate goals. Within the upcoming cohort, 2 out of 27 companies are developing solutions to decarbonize the cement industry, which is currently responsible for 8.8% of industrial sector GHG emissions in California. The potential impact of transforming the way in which one of the most used materials in the world is created is one of the many ways the CalSEED program is working to bring the rapid transformation to a clean energy economy.

“This new cohort of CalSEED grant recipients stands at the forefront of new energy solutions and exemplifies California’s innovative ethos,” said Joy Larson, Program Director of CalSEED.

“With financial support, mentorship, connection to a large network, and the support of a community of fellow entrepreneurs, the CalSEED program offers a springboard for entrepreneurs to bring sustainable energy solutions and energy equity into the energy landscape.”

CalSEED is funded through the CEC’s EPIC program, which invests approximately $120 million annually for innovative clean energy technologies and approaches benefiting. the ratepayers of California’s three largest electric investor-owned utilities.

Details of the 27 companies awarded a total of US$4 million:

COHORT 6 CONCEPT AWARDEES:

• ActivatedEnergy is designing and demonstrating a long duration energy storage system for urban environments, where system footprint cost is a driving factor, without the use of lithium or cobalt. This innovation is a system that will store energy in the form of compressed liquified carbon dioxide and will release energy by expanding the gas through a turboexpander, using commercially evaluated and certified components.
• BioZen Batteries is developing a low-cost, carbon-based redox-active electrolyte (“redoxloyte”) fluid for redox flow batteries (RFBs). Redoxolytes are a green-plant-inspired organic chemistry leveraging modular, single-atom scale molecular modifications to tune solubility (capacity), redox potential (cell voltage), intermolecular interactions (lifetime), and manufacturing efficiency (cost). This technology has the potential to significantly reduce the cost of deploying long-duration RFB energy storage on the grid, thereby dramatically decreasing pollution burdens and increasing energy resilience in underserved communities.
• Calion Technologies is developing a zero global warming potential and carbon-negative heat pump using our non-vapor compression Ionocaloric heat pumping technology that will provide a drop-in replacement for vapor compression technologies. Because the ionocaloric technology utilizes the solid/liquid transition instead of the liquid/vapor transition, the ionocaloric refrigerant doubles as thermal storage material and there is never any vapor produced during the heat pumping process, so there is no refrigerant that can harm the atmosphere.
  Carbon Blade Corporation is building an energy efficient hardware solution for carbon dioxide removal that can be placed directly at sequestration/usage locations with no additional cost for electricity or pipeline infrastructure. The proposed innovation is a stand-alone device that uses onboard wind and solar electricity generation to power a chemical process that captures CO2 from the atmosphere in a modular containerized solution.
• C-Crete Technologies is developing a process that turns naturally occurring abundant “non-carbonate” rocks to cementitious binders with significant energy savings, affordability, flexibility, emissions reductions while maintaining similar comfort level and performance for end-users.
  Ceja Engineering Solutions developing a self-powered line mounted wildfire detection system that will employ embedded sensors to continuously monitor for wildfire conditions and provide a remote automatic circuit breaker protective trip if a wildfire is detected.
• CONUSANT is developing and implementing a micro-controller in residential refrigerators to efficiently store thermal energy and permanently shift load on a daily basis. This invention will use off-peak energy to cool the refrigerator freezer compartment below the normal set point of 0 degrees Fahrenheit. By lowering the temperature 2-3 degrees below 0, we can turn off the compressor usage for up to 8 hours. This will help alleviate solar/wind over-generation and curtailment concerns during peak electricity production times and insufficient load,
• EarthEn is developing a flexible energy storage solution that uses CO2 in a closed loop to store 4-100+ hours of energy at a low cost & highly scalable & safe manner. The proposed innovation is an Energy Pod that uses supercritical CO2 (sCO2) as a circulating fluid that is compressed to store excess energy from solar and wind. When excess energy is present, CO2 is compressed into sCO2 at high pressures.
• EELi Technology is developing an economical, efficient, and scalable electrochemical-based direct lithium extraction platform technology using electricity rather than carbon-intensive reagent chemicals. Electrochemical extraction processes (EEPs), in which voltage/current is the driving force to capture ions, provide exceptional lithium selectivity, recovery rate, and rapid processing.
• ENAMP is advancing a distributed energy resources management & EV charging hub that will be an all-in-one solution enabling all residential buildings, even those with limited utility power capacity, to go all-electric. Enamp will use real-time data to implement the instantaneous dynamic control of major electric loads, enabling homeowners to integrate interoperable DERs, electrify major appliances, manage loads during the grid-islanded mode, and charge electric vehicles without the need to upgrade the behind-the-meter distribution system (Utility Service, Electric panel, and subpanels).
• EnergizedAI is increasing EV fast charger uptime through the development of a predictive maintenance algorithm, allowing service to occur before failure. EnergizedAI is developing a tool that will utilize an ensemble of methods including deep learning, forecasting, and statistical survival analysis to identify fast chargers at risk of becoming non-functional. This analysis takes into account multiple data points from each fast charger and local environmental information to derive a charger health score with continuously improving accuracy as feedback from each prediction is incorporated into the analysis and the model is exposed to more data.
• ExPost Technology is developing a reuse and recycling process for end-of-life lithium-ion batteries to conserve critical materials, reduce environmental impacts, and lower material costs of new battery manufacturing. This closed-loop, direct recycling/upcycling technology uses a combination of physical and chemical processes based on pyrometallurgy and hydrometallurgy.
• Furno Materials. is producing Portland cement using small cement plant technology that will leverage hydrogen fuel and waste recycled concrete fines to produce carbon-neutral cement at >90% efficiency. Furno’s hydrogen-fired cement plants with novel reactor design use hydrogen as a fuel, removing the fuel emissions from cement production.
• Grid Science is determining the value of behind the meter DER such as battery storage. The value of DER is determined by local supply and demand conditions in that specific utility circuit, the load capacity, and the reliability of that individual feeder. Grid Science will use sensors to deliver real time distribution power flow telemetry.
• Helios Climate Industries is developing a variable-speed heat pump controller to maximize comfort, minimize operating costs and provide demand response capabilities aligned with the electricity network. The controller will make machine-learned decisions by monitoring the indoor and outdoor climate conditions, Time-of-Use billing, forecasting weather, solar PV production and consumption, thermal and battery storage charge level, and electricity network demands.
• Kinetix Energy Storage is engineering an integrated reluctance motor with a carbon fiber flywheel energy storage system to minimize lifetime project costs for short-duration energy storage applications. This innovation integrates high-efficient system components and maximizes energy storage capacity in a 20 ft shipping container to minimize shipping and installation costs while providing reliable, resilient power for 20 years without degradation.
• Leeta Materials is developing a scalable, microwave-assisted manufacturing process for battery cathode materials. Microwave heating reduces the energy consumption of the manufacturing process and in-situ characterization will allow for direct probing of the material quality. This enables efficient production of high-quality materials while decreasing the environmental footprint of battery materials.
• Mirai Solar is developing, implementing, and testing a self-learning control logic for enhancing the energy use efficiency of greenhouses through the automation of retractable photovoltaic shade screens. This smart algorithm will pull from relevant data points, both historical and real-time, to make decisions that optimize both the crop growth and electricity output of the greenhouse by choosing when to let the sun fall on the plants or photovoltaic shades.
• Project K is developing a potassium-ion battery that is lithium-free, low-cost, energy-efficient, and long-lived for grid-scale energy storage. The innovation combines old and new battery features, like a Prussian blue analog (PBA) cathode with a graphite anode and an electrolyte composed of a small-molecule organic solvent; conductive salts; and stabilizing additive into a device with an architecture that is essentially identical to that of contemporary, mass-produced lithium-ion batteries.
• Root 121, Inc. is demonstrating a sodium-ion cathode manufacturing technology that will enable an affordable and domestically resilient battery supply chain. The proposed innovation is a vertically integrated process to manufacture high-energy density sodium-ion cathodes and a materials optimization methodology that uses data collected during manufacturing, materials characterization, and battery testing.
• Scalvy is designing and demonstrate a fully modular and granular drivetrain system for medium- and heavy-duty vehicles to accelerate the electrification of this sector. This project enables low-volume OEMs to electrify their fleets using simple integration and an easier-to-access supply chain while operating efficiently. The drivetrain system will be composed of tens to hundreds of modular self-controlled drivetrain building blocks operating to drive the traction motor, charge the battery packs, supply the electronic loads, and perform the battery management system functionalities.
• Sea Dragon Energy is developing an energy management system for homeowners to monitor and control circuits using their existing circuit breaker panel. The innovation, mPower, will better utilize self-generated and stored energy while on or off grid and is easily installed into an existing panel, by snapping it into an empty slot, without requiring replacement of the panel.
• Solar Ice is building a prototype of a solar thermal-powered absorption air conditioning & refrigeration system utilizing high efficiency solar collectors, modern absorption chillers, and state-of-the-art phase change material storage. Compared to conventional systems, this solar thermal cooling innovation will reduce greenhouse gas emissions and improve air quality by operating without the HCFC refrigerants, and eliminating the compressor drastically reduces energy consumption, translating to cost savings and system reliability while eliminating the constant noise and vibration.
• Sunchem is developing and scale up a low-cost precision Nano Filtration device that can continuously capture critical metals used for the clean energy transition from any complex water mixtures. The Nano Filter (NF) technology is based on a library of compositions made up of highly porous sponge-like metal-organic framework (MOF) and polymer building blocks that can process complex water mixtures for precision separation and concentration of metals that are critical for the creation of renewable energy sources and storage such as solar photovoltaic cells, batteries and onshore/offshore wind.
• ThermoShade is developing a passive cooling panel that can be installed above outdoor spaces, creating a shady space that feels up to 20°F cooler than the outside air. ThermoShade integrates ultra-reflective coatings, which reflect >90% of the Sun’s energy, and phase change materials, which release stored cool thermal energy during the daytime heat, and recharge at night when temperatures drop, into a modular, highly scalable design. ThermoShade will work 24/7 with zero electricity, zero water, and zero upkeep, helping to keep customers cool, while reducing their electricity and water bills.
• Waste Salt Technologies LLC is demonstrating a process that repurposes the unseparated and minimally processed solid salt of the desalination process in an inexpensive, safe, modular, and scalable Thermal Energy Storage (TES) system that can be used to store thermal energy. Waste Salt Technologies’ approach includes physical and chemical steps to prepare the salt and involves a data-driven procedure for designing a heat exchanger that can thermally interact with the processed salt to provide and extract thermal energy.
• Westwood Aerogel is incorporating aerogel technology into energy efficient window designs. Sol-gel Solutions produces ambiently dried aerogel technology that will be applied through an optically clear adhesive onto a pane of window and assembled into insulating glass units. It is transparent, has extremely low thermal conductivities, and unlike existing technologies, can be mass produced in a continuous line process.

About CalSEED

CalSEED is funded through the CEC’s EPIC program which invests approximately $120M annually for innovative clean energy technologies and approaches benefiting the ratepayers of California’s three largest electric investor-owned utilities. Through the CalSEED initiative US$25M will be deployed to back over 80 startups in coming years. CalSEED is administered by New Energy Nexus.

About the California Energy Commission

The California Energy Commission is leading the state to a 100 percent clean energy future. It has seven core responsibilities: developing renewable energy, transforming transportation, increasing energy efficiency, investing in energy innovation, advancing state energy policy, certifying thermal power plants, and preparing for energy emergencies. For more information, please go to energy.gov.ca .

Jakarta, 13 September 2023 – The government of Indonesia should play a more active role in growing the country’s nascent cleantech startup ecosystem, which is critical to accelerating the energy transition and unlocking the economic potential of clean energy, according to a report from New Energy Nexus Indonesia: Clean Energy Technology Startups in Indonesia: How the Government Can Help the Ecosystem.

Government support is crucial given that the majority of cleantech startups in Indonesia are still in the early stage of development, and often struggle to obtain support and funding for their technology and business.

“The Indonesian government should learn from other countries, and create an environment for cleantech startups to thrive. This support could be in the form of fiscal, financial, and non-financial support accessible to actors in the cleantech startup ecosystem such as startups, venture capital, incubators, and others,” said Pamela Simamora, the lead author of the report at New Energy Nexus Indonesia.

“The support needed for clean energy startups is different from any other established digital startups for instance, the majority of these startups are hardware-based and require a more intensive R&D for their technology development.”

The report survey showed that 22 out of 35 cleantech startups have a runway of less than six months – whereas startups should ideally have a runway of at least 18 months. The survey results also show that the majority of cleantech startups in Indonesia are still bootstrapping and have not been able to secure external funding.

The report highlights several challenges faced by cleantech startups, ranging from difficulty in accessing funding, limited R&D funds for technology development, difficulty in finding a skilled workforce in the clean energy technology field, as well as the weak regulatory framework in the sector. In addition, the majority of venture capital firms mentioned in the report that the limited number of cleantech startups in their portfolios is not due to a lack of interest in this sector, but rather due to the high risks in the clean energy sector in Indonesia given inadequate policies and regulations. The same is mentioned by business incubators and similar organizations surveyed in this report.

Steps the government can take to support cleantech startup.

“Indonesia can learn from other countries that have already developed cleantech startup ecosystems. For example, the provincial government of British Columbia in Canada provides incentives in the form of tax credits for investors who invest in early-stage companies in the clean energy technology sector.”

“In addition, incubation programs, accelerations, and startup competitions organized by various ministries and government agencies need to be aligned to maximize their impact on the startup ecosystem and eliminate overlapping programs,” said Pamela Simamora, the lead author of the report at New Energy Nexus Indonesia.

“The government, for example, can differentiate each program based on the Technology Readiness Level (TRL) of startups participating in programs like Startup4industry, ETIC KESDM, PLN Elevation, and PPBR BRIN. This aligns with best practices in countries like the United States, Chile, and Morocco.”

Additional recommendations:

• The government could catalyze private investment in cleantech startups by mobilizing state-owned venture capital for investment in the cleantech sector and providing a fund-of-funds scheme where the government becomes an investor in selected venture capital funds for early-stage cleantech startup investments. This mechanism is widely used in countries like China and Singapore, which have successfully developed their startup ecosystems, including cleantech startups.

“The government should focus more on early-stage startups rather than late-stage ones to prevent public funds from crowding out private capital from the market,” said Pamela.

• The government needs to ensure that the policy and regulatory framework in the energy sector facilitates a conducive investment climate for the use and development of clean energy technology in Indonesia.
• Strengthening cooperation between the public and private sectors to increase investment in startups, providing testbed facilities to support research and development of clean technology, mandating green procurement practices for the government, and enhancing STEM education and vocational training to prepare a skilled green workforce in Indonesia.

The growth of this sector has tremendous potential for job creation, economic development, and technological innovation. By supporting cleantech startups, the Indonesian government can achieve its climate goals, promote economic growth, ensure energy resilience, and enhance the country’s competitiveness in the global market

View the report here.

Canberra, 11 September 2023 – Australia risks being left behind in the global renewables race unless the Australian Government urgently commits to a new $100 billion Australian Renewables Industry Package, according to a major new coalition of leading renewable energy, business, union, community and investor groups. 

The diverse group of organisations has today joined forces at the Australian Renewables Industry Summit in Canberra to call for ambitious new policies that will secure a once-in-a-generation economic opportunity for the nation.

This follows the government’s commitment made in the last Federal Budget to respond to the passage of historic renewable industry policies overseas, including the Inflation Reduction Act in the United States.

The call for a ten-year $100 billion Australian Renewables Industry Package is endorsed by groups including the Australian Conservation Foundation, Australian Council of Trade Unions, Climate Action Network Australia, Climate Energy Finance, First Nations Clean Energy Network, New Energy Nexus, Rewiring Australia and the Smart Energy Council.

With a global renewables industrial revolution underway, the group says Australia must act with speed and ambition now to fully realise the employment, export, economic, emissions reduction, environmental and social benefits for our nation, businesses and whole community before it is too late.

The U.S. Inflation Reduction Act has made this a global technology and investment race, at speed. That means funding more ambitious industrial support packages to build new clean industries, attract greater investment and create thousands of new secure jobs, as what is currently happening under the ~US$1 trillion Inflation Reduction Act in the U.S.

The group says a decade-long AU$100 billion new Australian Renewable Industry Package is essential to drive nation-building benefits for Australia.

“Australia is standing at a crucial juncture in our nation’s history,” said Smart Energy Council Chief Executive, John Grimes.“Our world-leading resources and renewable energy potential provide the opportunity for Australia to become a driving force in the global green economy while driving down emissions in line with the science to maintain a safe climate.

“But without significantly greater investment, we simply won’t be able to build the industries of the future, reduce emissions, create jobs or strengthen national prosperity and social equity.”

“We need a far more integrated and ‘big picture’ approach to encourage greater investment, commensurate with the scale of this massive renewables and critical minerals/metals embodied decarbonisation export opportunity for Australia,” said Climate Energy Finance Founder, Tim Buckley.

“A AU$100 billion package will help re-industrialise the nation, create hundreds of thousands of jobs, diversify our export base and revenue streams as well as increase local value-added production, secure supply chains and develop sovereign manufacturing capabilities. This is climate policy as economic policy as national security policy – in the 21st century, these are fundamentally linked.”

“Australia is well placed to seize opportunities in clean energy and manufacturing. We are in a climate crisis and as the largest exporter of coal and LNG in the world, Australia has a unique opportunity to take a leading role in decarbonising critical industries such as iron and steel. The Australian Renewable Industry Package is needed to reduce industrial emissions and retain a safe climate,” said Australian Conservation Foundation CEO, Kelly O’Shanassy.

“The U.S., Canada, European Union, India, Korea and Japan are already committing hundreds of billions of dollars towards clean industrial support packages – Australia needs to take big action now to fulfill our enormous clean energy potential and create hundreds of thousands of well-paid, safe and secure jobs. Both the urgency of the climate crisis and the enormity of the clean energy opportunity for workers, their families and communities call for a bold, ambitious, fair and timely response from government,” said Australian Council of Trade Unions President, Michele O’Neil.

Oakland, 31 August 2023 – The Biden-Harris Administration’s announcement today of US$15.5 billion for domestic EV production and workforce development is a welcome signal but questions remain around implementation. Danny Kennedy, CEO of New Energy Nexus, said:

“This announcement shows the USA is finally getting real about onshoring a resilient and clean lithium and EV supply chain. This is a huge opportunity for innovators, with dozens of startups potentially receiving the backing they need to scale up production.

“It’s time we unleash American ingenuity, and support diverse entrepreneurs working to  address critical issues in the clean transition: building a low carbon lithium battery supply chain, with high quality job creation and inclusive economic development at its core.”

Li-Bridge [1], a public-private alliance convened by the U.S. Department of Energy (DOE) and which New Energy Nexus is a core member, released a report in February 2023 – “Building a Robust and Resilient U.S. Lithium Battery Supply Chain” – that included 26 recommendations to boost the domestic lithium battery industry.

According to the report, the U.S. will not achieve complete lithium battery supply chain independence by 2030, but it estimates the country can capture 60% of the economic value consumed by domestic demand for lithium batteries by that year, generating $33 billion in revenues and creating 100,000 jobs.

“Without reliable access to lithium battery technology, the U.S. has no chance of meeting its 2050 net-zero carbon emissions goal or ensuring an inclusive and socially responsible industry.

“The Administration’s statement is vague on details at this stage, but we will want to see strong measures securing high-road jobs, and partnerships with local communities, tribes and labor groups to ensure benefits flow across the country. This should be especially so in Southern California, where abundant lithium can be produced as a byproduct of geothermal power.

“This vision could lead to a profound transformation of the Salton Sea region, moving beyond primary resources to an economic transformation rooted in innovation and value-added enterprises linking lithium mining with the full lithium-ion battery and electric vehicle value chain.

“This could provide good paying jobs in everything from critical minerals refining, to battery components and electric vehicle manufacturing, to battery recycling and reuse activities.”

Notes:

[1]  Announced in October 2021 by DOE and Argonne, Li-Bridge is spearheaded by three industry trade groups — New Energy Nexus, NAATBatt International, and the New York Battery and Energy Storage Technology (NY-BESTTM) Consortium — with active involvement from DOE national labs and Boston Consulting Group.