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Origin expands renewable portfolio with Climatech Zero investment

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Origin Energy has announced its acquisition of a 20 percent stake in Climatech Zero.

According to Origin, Climatech Zero is a rapidly growing provider of energy management and decarbonisation solutions for industrial customers.

Established in 2018, Climatech Zero specialises in delivering energy efficiency projects and innovative ‘energy as a service’ offerings to sectors including mining, manufacturing, and food production across Australia and New Zealand.

Peter O’Connell, co-founder and CEO of Climatech Zero said this partnership was born out of a “mutual passion for aligning with the needs and ambitions of our large industrial customers to use less energy and reduce emissions”.

“We’re thrilled to partner with Origin in delivering on that ambition and we commend Origin for continuing to be ahead of the curve. Our expertise providing transition services behind the meter combines perfectly with Origin’s forward-thinking goals to support clients through the energy transition,” O’Connell said.

“Our business continues to grow year on year – we’re on target for 300 per cent revenue growth in FY2024 off a strong base. From an ambitious start-up in 2018 to now generating double-digit million revenue, having the support of one of Australia’s leading energy companies is significant and offers potential for further growth.

“Working together with Origin, we can offer more value to Australian industrial companies. Our resources, technology and skills can help customers underwrite new investments, improve existing operations and ultimately accelerate the energy transition journey.”

Executive general manager of Origin Zero, James Magill said Origin’s investment in Climatech Zero reflects its belief in their offering and provides Origin with exposure to a fast-growing segment.

“Through this agreement, Origin and Climatech Zero will also be able to pursue opportunities to partner on the delivery of end-to-end energy and decarbonisation strategies for large industrial customers. Climatech Zero’s tailored engineering solutions for industrial customers complement Origin’s strengths in front of the meter and behind the meter, solar and demand-side management solutions,” Magill said.

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