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Renewable energy start-up founded
A global firm has advised on the founding of Evergen, a renewable energy start-up offering Australia’s first intelligent home energy management system.
Lara Bullock
Firm: King & Wood Mallesons (Evergen)
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Deal: Evergen has been founded with the technical backing of CSIRO and the financial backing of AMP Capital.
Value: $2.9 million
Area: Energy
Key players: The King & Wood Mallesons team was led by partner Scott Bouvier, along with senior associate Anthony Boogert and solicitor Yixin Gong.
Deal significance: Evergen recently launched Australia’s first intelligent home energy management system. Combining solar panels and batteries with smart technology, the system continuously analyses a household’s power consumption patterns and weather forecasts to decide when to use solar power, when to store it and when to draw from the battery or the grid, according to what is the most cost-effective for the household.
CSIRO developed Evergen's core energy management intelligence and provided research expertise to help Evergen commercialise the product, which secured a $2.9 million investment from AMP Capital.
KWM advised on all aspects of the formation of Evergen, including the establishment of the company, funding and licensing of the smart technology.
