Raw: [
RayGen Resources has closed a landmark A$127 million Series D investment round, drawing strong support from global energy leaders and public sector investors. The raise, led by SLB with a…
The post Startup RayGen Raises $83M in One of Australia’s Largest Clean Energy Tech Rounds appeared first on ESG News.
]
Startup RayGen Raises $83M in One of Australia’s Largest Clean Energy Tech Rounds – ESG News
LOADING
ESG News
ESG Business
ESG Reporting
ESG Standards
Sustainability
Environmental
Technology
Infrastructure
Government
Diversity, Equity & Inclusion
ESG Investing
Sustainable Finance
ESG Funds
Digital Assets
ESG Lifestyle
ESG Events
Upcoming Event List
International
ESG India
ESG Middle East
ESG Asia
ESG Japan
ESG Canada
ESG Europe
ESG APAC
ESG United Kingdom
ESG Latin America
ESG Russia
Video
Force For Good
UN Global Compact Leaders Summit 2022
Greenwich Economic Forum
Blockchain for Europe
UNCTAD Sustainable Stock Exchange Initiative
Humanity 2.0
World Economic Forum
Caspian Week
Converge2Xcelerate
International WELL Building Institute
EarthX
Type to search
ESG NewsESG Business
ESG ReportingESG StandardsSustainabilityEnvironmentalTechnologyInfrastructureGovernmentDiversity, Equity & Inclusion
ESG Book, BCG Launch Sustainability Reporting Platform ‘LEO’
ESG News
April 10, 2025
ESMA Recommends Simplifying ESG Disclosure Rules for Benchmark Administrators in EU
ESG News
April 10, 2025
OneStream Launches ESG Reporting Tool with Scope 1–3 Emissions Support
ESG News
April 9, 2025
IFRS, TNFD Sign Agreement to Advance Nature-Related Financial Disclosures
ESG News
April 9, 2025
IFRS Foundation Launches Roadmap Tool to Help Jurisdictions Plan Adoption of ISSB Standards
ESG News
March 27, 2025
SBTi Updates Decarbonization Plans for Oil, Gas, Chemicals, and Power Sectors
ESG News
December 24, 2024
Verra Joins Singapore Sustainable Finance Association to Boost Climate Action in Asia
ESG News
December 10, 2024
CDP, 20 Landscape Experts Set Standards for Sustainability Beyond Supply Chains
ESG News
November 19, 2024
DEI Week in Review: Corporate and Policy Shifts in U.S.
ESG News
March 2, 2025
Qatar Commits $2.5B Green Bond Fund to Renewable Energy, Low-Carbon Real Estate
ESG News
January 28, 2025
Top Five Sustainability Headlines; Barbados, Formula-E, Fisheries, Fashion, Nature Credits
ESG News
December 7, 2024
Maersk to Use up to 20% Alternative Fuels For its Fleet in 2030
ESG News
December 2, 2024
Terra CO2 Secures $82M to Scale Sustainable Cement Technology in Sustainable Cement Technology and Europe
ESG News
February 19, 2025
80% of Companies Plan to Implement New Tech to Meet CSRD Requirements: PwC Report
ESG News
December 6, 2024
PwC Launches New Blog Series Exploring ESG Technologies’ Impact on Businesses
ESG News
December 2, 2024
Microsoft Builds First Wood Datacenters, Cutting Carbon Emissions by 35%
ESG News
November 5, 2024
Santander and IFC Launch First $100 Million Green Building Loan in Chile
ESG News
April 14, 2025
BBVA, EIB Provide €185M for Near-Zero Emissions Housing Projects Led by Spanish SMEs
ESG News
April 4, 2025
EU Adopts New Rules to Boost Sustainability and Innovation in Construction
ESG News
January 7, 2025
Snam Signs €4 billion Sustainability-linked Revolving Credit Line, Targets Reduction of Scope 3 Emissions
ESG News
December 20, 2024
videocam
Will.i.am Addresses AI, Education, and Equity at Africa House – DAVOS 2025
ESG News
April 10, 2025
Sustainalytics: DEI Rollbacks Have Limited Impact on ESG Risk Ratings but Raise Broader Concerns for Investors
ESG News
March 28, 2025
DEI Headlines Week In Review – March 15 2025
ESG News
March 15, 2025
UK Regulators Scrap Plans for Mandatory DEI Rules, Citing Industry Pushback
ESG News
March 12, 2025
ESG Investing
Sustainable Finance ESG Funds Digital AssetsESG LifestyleESG Events
Upcoming Event ListInternational
ESG India ESG Middle East ESG Asia ESG Japan ESG Canada ESG Europe ESG APAC ESG United Kingdom ESG Latin America ESG RussiaVideo
Force For Good UN Global Compact Leaders Summit 2022 Greenwich Economic Forum Blockchain for Europe UNCTAD Sustainable Stock Exchange Initiative Humanity 2.0 World Economic Forum Caspian Week Converge2Xcelerate International WELL Building Institute EarthX
Get Breaking ESG News Alerts
Daily Newsletter
Join Now
videocam
Latest News
Seven simple questions
Help us improve your experience, delivering more of what you want
ESG Survey
Seven simple questions – Help us improve your experience, delivering more of what you want!
Startup RayGen Raises $83M in One of Australia’s Largest Clean Energy Tech Rounds
Climate Tech
/
ESG Startups
/
Sustainable Finance
/
Startup RayGen Raises $83M in One of Australia’s Largest Clean Energy Tech Rounds
by ESG News
•
April 14, 2025
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Listen to this story:
$127M Series D raise led by SLB marks one of Australia’s largest clean energy tech capital rounds.
Strategic backing from global energy players and government agencies positions RayGen for international deployment.
Proprietary solar-thermal storage tech addresses long-duration storage needs critical to energy transition.
RayGen Resources has closed a landmark A$127 million Series D investment round, drawing strong support from global energy leaders and public sector investors. The raise, led by SLB with a A$31 million follow-on, will fast-track RayGen’s international rollout of its next-gen solar-thermal hydro storage technology.
“This new funding round validates our vision, empowers us to accelerate our growth and is recognition of the outstanding effort and dedication of the RayGen team,” said RayGen CEO Richard Payne.“Beyond their funding commitments, the calibre of our strategic investors places RayGen in an unrivalled position.”
RayGen CEO Richard Payne
The RayGen-SLB Strategic Deployment Agreement (SDA) aims to scale the company’s technology globally. Irlan Amir, SLB Vice President of Renewables & Energy Efficiency, emphasized its transformative potential:
“We believe RayGen’s next-generation solar thermal hydro energy storage technology can provide clean and flexible energy to address the intermittency challenge of renewable energy.”
New investors in the round include Quanta Services, Oxy Technology Ventures, and Breakthrough Victoria, while existing backers such as Equinor Ventures, AGL Energy, and Photon Energy Group increased their stakes. The Australian Renewable Energy Agency (ARENA) contributed A$17 million, building on a previous A$10 million commitment.
RELATED ARTICLE: Clean Energy Technologies to meet SDGs in Small Island States
Darren Miller, CEO of ARENA, noted: “RayGen’s technology represents a significant advancement in renewable energy solutions… a true testament to Australian ingenuity.”
Darren Miller, CEO of ARENA
RayGen’s proprietary system combines solar concentration and water-based thermal storage to provide reliable, long-duration power. The system’s flagship project at Carwarp, Victoria, under offtake with AGL, is already operational.
Markus Brokhof, AGL Chief Operating Officer, said: “Electricity generated and stored at Carwarp is already being supplied to AGL customers. This technology could be one solution to the challenge of long duration energy storage.”
Markus Brokhof, AGL Chief Operating Officer
The company is scaling aggressively, with projects under development in South Australia and South Africa through its partnership with Photon Energy. RayGen also operates Australia’s largest renewable energy manufacturing facility in Melbourne, with a 170MW solar module line.
Katherine Peachey, Head of Equinor Ventures, stated: “RayGen’s innovative technology is set to play a key role in strengthening grid resilience and driving the energy transition forward.”
Rod Bristow, CEO of Breakthrough Victoria, added: “RayGen’s innovative solar and storage technology represents the future of clean energy.”
Rod Bristow, CEO of Breakthrough Victoria
RayGen is now positioned as a key enabler in the global shift toward flexible, low-carbon energy systems—bridging the gap between renewable generation and reliable supply.
Follow ESG News on LinkedIn
Share:
Share on Facebook
Share on Twitter
Share on LinkedIn
Topics
Clean Energy
ESG
ESG Australia
RayGen
Richard Payne
Series D
Related Articles
UN Maritime Agency Adopts Global Shipping Fuel Standard and Carbon Pricing Rule by 2027
ESG News •
April 14, 2025
Santander and IFC Launch First $100 Million Green Building Loan in Chile
ESG News •
April 14, 2025
Apollo Commits $400M in JV with Summit Ridge Energy to Scale U.S. Commercial Solar Projects
ESG News •
April 14, 2025
Masdar Deepens Indonesia Partnership with PLN to Advance Net Zero Through Floating Solar
ESG News •
April 14, 2025
Apr
10
April 10 – April 14
CANADA Certified Sustainability ESG Practitioner Program, Leadership Edition 2025
Apr
21
April 21 – May 23
EarthX 2025
Apr
22
All day
Earth Day 2025
Apr
29
3:00 am – 5:00 am EDT
Webinar: How to Build Effective CSR Framework?
Jun
25
June 25 – June 26
Carbon Capture Technology Expo 2025
View Calendar
Today’s Top ESG Stories
Santander and IFC Launch First $100 Million Green Building Loan in Chile April 14, 2025
Apollo Commits $400M in JV with Summit Ridge Energy to Scale U.S. Commercial Solar Projects April 14, 2025
Orbital Materials, Civo Launch Pilot to Embed Carbon Removal Technology in UK Data Centers April 11, 2025
Excelsior Energy Capital Raises $1 Billion for Second Renewable Energy Fund April 11, 2025
Japan’s JFE Steel Unveils $2.2B Project to Deliver World’s First Low-Carbon, High-Grade Steel April 11, 2025
ESG News Quote of the Day
“Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”
Tweet
ESG News Daily Newsletter
First Name
Last Name
Email address:
Leave this field empty if you’re human:
Related Stories
Norges Bank Buys 49% Stake in RWE Offshore Wind Projects for €1.4 Billion
Masdar to Invest $198 Million for 50% Stake in Endesa’s Renewable Energy Assets in Spain
Apple Launches $99 Million Clean Energy Fund in China
JLL to Acquire Javelin Capital to Boost U.S. Clean Energy Investment Banking Capabilities
About ESG News About Us
Become a Contributor
Newsletter
Contact Us
Services Advertise With Us
Promote An Event
Sponsorships
News Agency
Terms & Privacy Terms & Conditions
Privacy Policy
Cookies
Copyright
Follow Us
YouTube
©2025 ESG News Corp. All rights reserved.
Add ESG News to your home screen?
Add this web page on your home screen for quick and easy access when you’re on the go.
Just tapthen “Add to home screen”
×