Solar Energy company Upstream founded by by Nathan Begley in 2013 has raised $20 million from MA Financial’s growth ventures business.
Upskilled places solar panels on its clients’ sites, such as retail stores or bank branches. The companies then purchase energy from Upstream, instead of the grid at a lower cost.
They currently operate 15 megawatts of rooftop solar energy and battery storage and is looking to reach 100 MW in three years.
“The generation amount of coal fired power stations that will be shut down in the next 11 years is the same amount of generation needed by the state of NSW at 7.00am in the morning – 7 GW or 7 million kilowatts. To power the electric vehicles needed in future is 40 times that amount. We need to invest massive amount of money and innovation into fixing this problem.“
Nathan Begley, Managing Director of Upstream Energy