June 16, 2024
Investment

Major Australian investment in OVO’s Kaluza


Australia’s AGL Energy has announced a significant investment in energy software company Kaluza.

The $100 million investment includes acquiring a 20% stake in Kaluza, valuing the business at around $500 million.

Kaluza’s software platform enables energy utilities to streamline customer operations and optimise energy usage across millions of connected devices.

This partnership aims to drive AGL’s retail transformation, offering affordable, low carbon solutions to its customers.

Stephen Fitzpatrick, OVO and Kaluza Founder, said: “This AGL deal is a major step towards
Kaluza’s mission to help power a world where net zero is within everyone’s reach.

“Australia is ahead of the curve in tackling the intense demands on its energy system – from the most volatile energy prices to the proliferation of EVs and incorporating solar into the grid.”

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