Schneider Electric to invest in Australia’s renewable energy future

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Schneider Electric to invest in Australia’s renewable energy future

Executives from Schneider Electric, which has an $800 million investment fund for high growth business opportunities, are currently meeting with local startups to invest in Australia’s renewable energy future. The company’s chief innovation officer, Emmanuel Lagarrigue, is in Australia seeking out incubations, investments and partnerships with promising startups.

Lagarrigue said demand for electricity is set to double in the next 20 years and the current power infrastructure won’t be able to keep up with demand.

“We are moving from a fossil fuel-driven economy to an electrified one and we are looking for entrepreneurs that can help the world become more energy efficient and transition to decentralized, renewable energy,” he said.

“We assist innovators by turning their vision into reality and can provide the needed resources to succeed in this complex industry beyond just capital.

“We partner with entrepreneurs and provide access to global markets and expertise to solve global problems.”

A local recipient of SE Ventures’ funding and incubation support has been Clipsal Solar, headed up by Preeti Bajaj.

Clipsal is a 100 year old South Australian brand and this new business spin out was launched by Premier Steven Marshall in mid-September and uniquely empowers consumers so they can take control of their energy use and cut their electricity bills by using household data analytics to manage rooftop solar electricity generation and energy use around the home, office or shop.

SE Ventures is exploring investment opportunities in the new energy landscape.

As part of the search, Lagarrigue together with his senior vice president of innovation based in Silicon Valley, Heriberto Diarte Martinez, met with South Australian Premier Steven Marshall and Chief Entrepreneur Jim Whalley, along with three local South Australian businesses this week.

South Australian Minister for Innovation and Skills David Pisoni said he was thrilled local startups in the energy sector were given an opportunity to meet with SE Ventures.

“SE Ventures visiting South Australia directly supports a key element of our Future Industries Exchange for Entrepreneurship (FIXE) Strategy to attract more venture capital investment into South Australia to support the growth of our innovative startup and scaling up businesses,” Pisoni said.

“Having SE Ventures in Adelaide also provides us with the opportunity to showcase the development of Lot Fourteen as a leading centre for future industries and entrepreneurship in the southern hemisphere.”

The visit to South Australia by Lagarrigue and his team follows the announcement last week that Schneider Electric Ventures has committed $16 million over the next four years to incubate and develop up to four Singapore-based companies with global growth potential.

About Schneider Electric

Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency. We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.

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