MetroElectro founder Lloyd Heinrich
MetroElectro, a climate tech startup in Australia, has received a pre-seed investment of AU$1.03 million (US$690,000) from Singapore-based climate tech venture builder Wavemaker Impact.
The capital will allow the company to develop several pilot projects in a premium industrial park in the outer suburbs of Melbourne and unlock further funding opportunities to drive the decarbonisation of the Australian electricity grid.
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Founded by veteran digital business entrepreneur Lloyd Heinrich, MetroElectro is a renewable energy company focused on unlocking the potential of commercial and industrial (C&I) rooftops. The startup, built from a venture-studio model, has developed its solution by collaborating with industry experts, investors, and businesses in the C&I sector.
MetroElectro’s solution aims to transform overlooked swathes of rooftops in industrial parks, turning these difficult-to-address assets into efficient energy generation resources. The approach simplifies the complexities, eliminates onerous capital requirements on owners and their tenants, and mitigates risks associated with distributed solar power on commercial rooftops.
Through strategic coordination with key stakeholders, including building owners, operators, the electricity grid, off-takers, and financiers, MetroElectro aggregates supply to facilitate meaningful trading in both wholesale markets and ancillary services.
MetroElectro is targeting the AU$672 billion market for C/I renewable energy in Australia and beyond, with a vision to reach AU$100 million in revenue and decrease 100 million tons of CO2 shortly.
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“Our mission to build a portfolio of companies that can decarbonise 10 per cent of global carbon emissions compelled us to look at Australia and see it as one of the most advanced markets in innovation and commitment to reaching climate goals,” said Marie Cheong, Wavemaker Impact Founding Partner. “MetroElectro embodies how we see our vision come to life in this market and its role in decarbonising our future.”
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