Evergen

About Evergen

Evergen operates as a software-centric company focused on the digital optimization of the renewable energy supply chain. The firm was established in 2015 as a result of a collaboration between AMP Capital and Australia's national science agency, CSIRO, to foster a more decentralized energy system. Since its inception, Evergen has attracted investments from firms such as Artesian VC, Providence Climate Capital, and FRV-X, the innovation division of Fotowatio Renewable Ventures.

The company's core business revolves around a cloud-native software platform that monitors, controls, and optimizes distributed energy resources (DERs). This platform serves a wide range of clients, including residential homeowners, commercial and industrial (C&I) sites, utility-scale project developers, energy retailers, and network operators. Evergen's revenue model is based on providing its platform to utilities and network operators, who pay for access to manage fleets of batteries and optimize energy storage. For residential end-users, the company offers its optimization software and app-based visibility at no cost.

Evergen's primary offering is its Intelligent Control software, which utilizes a cloud-based algorithm to optimize the performance of solar and battery systems. This technology analyzes over 40 factors, including weather forecasts, electricity demand profiles, and tariff structures, to maximize the return on investment for asset owners. The platform enables the creation and management of Virtual Power Plants (VPPs), which are networks of decentralized power generating units. Through cloud-to-cloud integration with numerous battery and inverter manufacturers, the system can manage a diverse fleet of assets without installing proprietary hardware. This allows stakeholders across the energy chain to make informed decisions regarding energy production and consumption. For homeowners, the Home Energy Management System (HEMS) helps manage electricity demand and consumption by controlling when appliances operate to minimize costs.

Ben Hutt serves as the CEO and Managing Director, bringing a background in management consulting with firms like Macquarie Group and PwC, as well as experience in founding and scaling startups, including co-founding Search Party Group. He joined Evergen in 2019 with the mission to accelerate the transition away from fossil fuels. Under his leadership, Evergen secured a significant A$15 million Series B funding round in 2022, led by FRV-X, to expand its software development and international presence. By mid-2022, the company was controlling over 100 MW of assets, including 7,000 residential battery systems in Australia.