Allume closes a $10.4 million investment round, led by a strategic partnership with E.ON

Allume Energy today announces the completion of an investment round totalling AU$10.4 million.

The round was led by E.ON UK, whose AU$8.3 million investment and strategic partnership will support the growth plans of Allume’s SolShare technology, which breaks down the technical and ownership barriers that have historically prevented people living in flats from accessing free, clean energy from the sun.

SolShare Installation Site — Richmond, VIC

Globally, E.ON is a major provider of energy solutions and clean energy networks with around 47 million customers across 17 countries. 

Allume's CEO, Cameron Knox, commented on the partnership: “Australians have some of the highest rates of residential rooftop solar in the world, but historically it has been available exclusively to those with the luxury of owning a free-standing home, leaving those in apartments missing out. We are committed to bridging this energy disparity gap, giving everyone the opportunity to access cheaper and cleaner energy from the sun.

“We’re seeing a huge acceleration in demand over the past couple of years. We are currently growing at 10% per month and expect to have connected over 10,000 apartments across Australia, the UK and the US by the end of this year.  

“Our capital injection, led by EON UK, will enable us to further accelerate this growth, whilst unlocking opportunities to expand our product offerings and markets.”

Read the joint media release here.