BY EL FITCHETT
A Newcastle based company and industry leader in energy management software has secured a $5 million dollar investment which will spark new opportunities for renewable energy use around the globe.
The $5 million dollar boost comes courtesy of South Korean company Q CELLS, which is an industry leader in solar technology.
“We’re approaching a time when we will have high levels of solar energy and batteries in the grid, and our software enables them to be coordinated to work smoothly with the electricity system,” said SwitchDin CEO, Dr Andrew Mears.
SwitchDin is the first Australian software company in which Q CELLS has ever invested.
“Our investment in SwitchDin reflects our ambition to deliver a total clean energy solution together with a partner that has a proven track record which we believe will bring confidence to our customers,” said CEO of Q CELLS, Hee Cheul Kim.
The funding will fast track the development of SwitchDin’s technology, as well as opening up more international opportunities for the Newcastle-based company to work on projects between energy utilities and manufacturers.
“We are leading this new digital energy field in Australia. Australia is pretty much the test market for the world for this type of stuff,” Dr Andrew Mears said.
“Newcastle’s a great place to be building a technology company like ours. It’s resource and manufacturing background, the Port of Newcastle, the Defence Hub, we’re all part of the same technology eco-system emerging in Newcastle.”