The National Reconstruction Fund Corporation (NRFC) is investing $100 million in Intellihub, a leading energy management company that is working to accelerate the deployment of a smart, connected energy grid in Australia. 

The debt investment is the NRFC’s first in its Renewables and Low Emissions Technology Priority Area. The Sydney-based company was established in 2018 and currently manages a portfolio of more than 3.3 million smart meters across Australia. 

NRFC funding will be used to support the rollout of smart meters and the upgrading of Intellihub’s Evergen energy management software to enable integration with a wider range of smart home devices. It will also enable the company to develop and acquire new ‘Behind-The-Meter’ or BTM devices that can be integrated into its Evergen platform.

NRFC CEO David Gall said, “Intellihub is the NRFC’s first investment in the Renewables and Low Emissions Technology priority area and the proprietary VPP technology behind its globally scalable Evergen platform was developed in partnership with the CSIRO.” 

“The transition to a net zero economy is an urgent and important national project and survey after survey has shown that the majority of Australians want to see concrete action to mitigate and adapt to the effects of climate change.” 

“One in three Australian homes has rooftop solar and the NRFC’s investment in Intellihub will help individual Australians to save money on their energy bills and make the most of their solar panels while contributing to the country’s energy transition.”

Smart meters play a vital role in enabling Australia to maximise the decarbonisation impact of its world leading uptake of rooftop solar and home batteries, while also delivering grid stability. The Australian Energy Market Commission (AEMC) has mandated their universal rollout by 2030 as a critical part of the net zero transition. 

Intellihub’s technology uses smart meters to enable energy retailers and network operators to better track and manage the energy usage of BTM devices such as EV chargers, home batteries, and pool pumps. 

Its proprietary Evergen software platform aggregates consumer energy resources from BTM devices into Virtual Power Plants or VPPs that can help to stabilise the grid, absorb excess daytime solar energy, and minimise usage when the energy grid is under stress. 

This in turn helps individual consumers to save money on their energy bills by enabling them to better understand and manage their energy use. Data from the AEMC has found that rolling out smart meters to all Australian households will provide net benefits of up to $507 million for national electricity markets, including NSW, QLD, the ACT and SA.

The NRFC’s investment will help support temporary local and regional meter installation jobs, as well permanent roles within Intellihub's operations, as part of the rollout. The capital will also aid Australia's economic diversification by creating additional highly skilled jobs in software, analytics, and energy services, in logistics and warehousing, and with telecom and IT partners to provide connectivity and data services.

NRFC CIO Mary Manning said, “Intellihub supports a more sustainable future for Australia which is in line with the NRFC’s mandate and purpose. Making the transition to a net zero economy is a long-term endeavour, well suited to patient capital like the National Reconstruction Fund.”  

Intellihub is owned by Brookfield and Pacific Equity Partners and the NRFC’s $100 million investment in senior secured debt is part of a $3.1 billion debt funding package. 

Intellihub CEO Wes Ballantine said, “We’re committed to supporting Australia’s energy transition, by helping more consumers benefit from smart meter, solar, battery, EV charging and pool efficiency technology.”  

“More than 3 million households across Australia and New Zealand already maximise their energy savings by utilising our smart devices together with Evergen software, with that number expected to double by 2030. This investment from the NRFC ensures Intellihub is strongly positioned to drive this expansion and accelerate this critical infrastructure deployment."

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About the National Reconstruction Fund Corporation (NRFC)

The NRFC is Australia’s sovereign investor in manufacturing capability. It has $15 billion to invest through direct loans, equity investments and loan guarantees across seven priority areas: renewables and low emissions technologies; enabling capabilities; defence capability; transport; value-add in resources; value-add in agriculture, forestry and fisheries; and medical science. 

The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.

For more information, visit nrf.gov.au.

NRFC media contact: media@nrf.gov.au

About Intellihub 

The Intellihub Group is a leading Australian and New Zealand energy business that delivers innovative metering, data and behind the meter technology platforms and solutions that maximise digital and new energy services.  

Intellihub was established in 2018 and with 3.3 million smart meters under management, with approximately 40,000 added each month, they are ANZ’s fastest growing energy infrastructure company. Their purpose is to simplify the energy transition through a holistic ecosystem of smart devices and services enabling a digitised and sustainable energy future.  

For more information, visit intellihub.com.au(Opens in a new tab/window)

Intellihub media contact:  

Amanda Redwood 
Amanda.redwood@intellihub.com.au 
0437 432 042