Intellihub Secures Major Business Funding Boost

Intellihub raises $3.1 billion to grow smart meter infrastructure and enhance business in the clean energy environment in Australia.

Intellihub Group successfully received a significant business funding package of 3.1 billion dollars, including 100 million dollars from the National Reconstruction Fund Corporation (NRFC) in Australia. The move is the first investment commitment the NRFC has made in the renewable and low-emissions technology priority area to facilitate Intellihub and Evergen energy software modernization and the integration of smart meters.

The business has over 3.3 million smart meters management within Australia and New Zealand. It will also provide consumers with the opportunity to maximize savings with intelligent energy solutions and that, according to CEO Wes Ballantine, is something that will be hastened by funding national infrastructure. As the growth of business will lead to household users increasing twice by 2030, Intellihub will be ready to grow on a large scale.

The business was established in 2018 as a partnership between Pacific Equity Partners and Landis+Gyr and has spent a very short time expanding. In 2022, Brookfield bought the interest in Landis+Gyr as Intellihub was fitting 1,000 meters a day.

The NRFC also emphasized the importance of smart meters in business in the context of the net-zero objectives of Australia and grid stability. EPUB AEMC has made it mandatory to roll out nationally by the year 2030 so as to improve rooftop solar and battery integration.

The Evergen platform offered by Intellihub The Evergen product will bring together behind-the-meter devices such as EV chargers and home batteries into virtual power plants to enhance grid responsiveness and make energy costs reducible by consumers. Statistical information indicates that statewide implementation would provide up to 507 m of net market offerings.

Regional job creation and economic diversification in Australia are anticipated to be created by investment in the software, analytics, logistics, and telecommunications areas, in addition to the growing clean-energy environment.