Australia — Brinc has accepted Perth-based Space Industries into their Australia CleanTech accelerator program. The acceptance marks the launch of their first program in Australia which focuses on supporting the next generation of Australian CleanTech startups who are building technology solutions to address Australia’s pressing energy efficiency, optimization, and emission challenges for industrial applications.
Space Industries is determined to boost the enablement of frontier cooling technologies to reduce grid energy demand and enable future energy technologies by addressing the scarcity of Helium-3 on Earth. The team is developing technologies to collect Helium-3 on the Moon and bring it down to Earth. Helium-3 is one of the only isotopes that are readily available in space, however not on Earth. This scarcity is limiting the number of technologies where helium-3 properties are highly valuable. Helium-3 is used in the medical industry for medical imaging (MRI scanners), neutron detection, supercooling and future energies that can replace fossil fuels. Helium-3 becoming more accessible on Earth will enable these technologies to be developed, providing significant benefits with energy savings and future energy production technologies.
“The Brinc CleanTech accelerator has proven to be an advantage with the support from dedicated global experts and advisors, which has strengthened our business plan and model. The funding from Brinc and Artesian will allow the Lunar Resource Extraction Vehicle (LREV) demonstrator to be built over the next few months, taking the company to a whole new level. In the global space industry, our company will be the leader in critical resources from space, and the enabler of future clean energy technologies on Earth.” said Joshua Letcher, Founder & CEO of Space Industries.
Artesian Venture Partners is Australia’s largest and most active early-stage venture capital firm that focuses on the Asian Pacific region with offices in Sydney, Melbourne, Singapore, and Shanghai. The accelerator program is supported by Artesian’s Clean Energy Seed Fund, which aims to invest in scalable, high growth startups, encouraging innovation, and creating opportunities in the development of clean technology. Artesian’s fund bridges the gap between government, corporates, institutions, NFPs and other late-stage clean energy investors and the clean energy startups that are providing solutions in this sector. Through the program, Artesian hopes to contribute to and help grow the dynamic clean energy startup ecosystem in Australia. Artesian also currently backs Brinc’s Greater Bay Area (Hong Kong & Mainland China) accelerator programs and together have invested in 70 startups.
“We are delighted to welcome Space Industries as the first program participant in the Brinc program. Space Industries is developing an interesting technology to enable utilities to access promising resources for future energies. We look forward to working with Space Industries and Brinc as they start their commercial journey.” said Tim Heasley, Partner & COO of Artesian.
Brinc’s Australia CleanTech program is a 100% online 3-month accelerator, that is uniquely designed to support Australian startups that have fully developed solutions to address the world’s energy and environmental problems, and are ready for commercialization.
The program invests AUD 150,000 into each startup accepted. Brinc will support the teams to facilitate commercial agreements with Australian Energy companies to help scope and secure pilots/POCs, while also opening up growth opportunities locally and internationally for companies. Upon completion of the program, Brinc will continue to support company growth through business development, provide capital raising guidance, and ensure a deep connection to the growing Brinc family of founders globally. Artesian will also provide follow on capital to companies that demonstrate traction.
“Australia needs more game-changers such as Joshua from Space Industries, to enable its clean energy transition agenda and achieve its Greenhouse gas (GHG) emissions reduction targets. This is why we are supporting startups innovating in the energy field (renewable energy, hydrogen, storage, etc.). However, more broadly, we are also looking for ways to reduce our environmental impact in sustainable manufacturing and materials, as well as sustainable waste, water and air management.” said Tuan Lam, Accelerator Programs Director (Australia) at Brinc.
Brinc accepts CleanTech startups on a rolling basis into the program. New teams will be onboarded teams throughout the year. For more information on the program, visit brinc.io/energy-aus.
Brinc is a different breed of venture capital and accelerator platform. Core to their business is the belief that some of the world’s biggest challenges can be solved by entrepreneurs, who they like to call GAME CHANGERS. Brinc believes that deep technology focused startups can fundamentally change how we move, what we eat, how we feel and where we live for the better if they are given the right backing. That’s what Brinc believes they are here for. To support and mentor founders and their teams from across the world and provide investment to help them grow. Brinc currently operates ten multi-disciplinary accelerator programs across six countries and has made 131 investments. Learn more at www.brinc.io.