NRN Secures $67.2M Series A to Accelerate No-Cost Solar, Battery, and VPP Plans in Australia

National Renewable Network (NRN), Australia’s leading distributed energy infrastructure platform, has closed a $67.2 million Series A funding round—one of the largest in Australian climate tech. The raise combines equity and debt, with major backing from a superannuation-linked fund.

NRN works with energy retailers, including partner Alinta Energy, to offer customers solar and battery systems with no upfront costs, repayments, or maintenance fees. Retailers can use NRN’s platform to rapidly build their own distributed renewable energy portfolios and white-label them as Virtual Power Plant (VPP) plans.

The round attracted leading climate tech investors, led by Investible, Virescent Ventures, Electrifi Ventures, and Ecotone Partners’ Planet Fund, alongside a major debt commitment from Infradebt-managed funds, including the Australian Ethical Infrastructure Debt Fund. Neu Capital acted as NRN’s debt advisor. The funding comes amid surging demand for solar, battery, and VPP plans in Australia, fueled by generous government incentives for homeowners.

“This Series A marks Investible’s third investment in NRN since leading their seed round in March 2024,” said Ben Lindsay, Investment Principal at Investible. “This latest raise represents the largest investment from our fund to date, underscoring the conviction we’ve built in the team, the model, and the scale of the opportunity. In just over 18 months, NRN has grown its network by more than 505% by solving one of the toughest challenges in energy: making clean energy accessible and affordable for households. We’re thrilled to welcome our co-lead, Virescent, and other exceptional investors to the cap table. NRN is building both a company and a category with global potential, and we’re proud to be on the journey with them.”

“Virescent Ventures is proud to support NRN in its Series A. Alan and the NRN team have built a smart, scalable solution to one of the most pressing challenges facing Australia’s energy transition – grid stability,” said Blair Pritchard, Partner at Virescent Ventures. “Australia’s transition to renewables has reached a critical moment – without the rapid deployment of battery storage and distributed generation technology, the energy transition will stall. NRN’s business model and technology can help address this by rapidly unlocking additional storage capacity, while democratising access to solar and battery technology. It will help more households benefit from renewable energy and battery technology without the upfront costs, while helping retailers and easing pressure on the grid. NRN presents a smart solution for consumers and the energy market, and a big step forward in decarbonising the electricity grid.”

“Millions of Australian homeowners want solar but the costs are prohibitive, and every energy retailer wants to scale up their solar energy generation” said Alan Hunter, CEO and Founder of NRN. “Our platform integrates tech, data, capital, compliance, and market access, to neatly solve the problem at both ends. For customers, it’s access to solar with no upfront fees. For energy retailers, NRN can instantly establish or scale distributed energy businesses without capital-intensive balance sheet burdens, while maintaining complete ownership of the customer experience. Our unique model is intentionally structured around empowering partners, never competing with them.”