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Hamilton Locke is delighted to be advising Energy Renaissance (ER) on its growth journey to date.
ER has a singular vision – clean stored energy everywhere. Founded in 2015, ER’s ambition is to use Australia’s rich reserve of raw materials to be Australia’s first producer of lithium-ion batteries that are safe, affordable, easy to transport, and optimised to work in hot climates.
The energy and, particularly renewables, industry in Australia is set for significant growth over the coming years as the economy grapples with issues around energy security and reliability, high electricity prices, climate change, and the transition away from coal-fired power to renewables. Batteries that can store clean energy are an important part of that mix.
ER’s vision is not only to be a leader in the Australian lithium-ion battery industry, but help put Australia on the map as a powerhouse of an advanced battery manufacturing industry that turns critical minerals, such as lithium, into high value products like batteries and solar power which are ready for export.
The business recently secured a site in Tomago, NSW, as the location for its new, battery manufacturing facility ‘Renaissance One’. In collaboration with CSIRO and supported by the Innovative Manufacturing CRC, ER will also develop a world-class, defence-grade cybersecure battery management system (BMS). The BMS will be deployed in the company’s Renaissance superStorage™ family of batteries and is part of ER’s ‘Renaissance One’ product line. There is already demand for a second manufacturing facility.
As Senator Holly Hughes said in October 2020, ‘Energy Renaissance will make clean and affordable energy more accessible and create greater energy security for Australia and our neighbouring countries’.
Recently, the Hamilton Locke team advised Energy Renaissance on all aspects of an oversubscribed Series B fundraising round (involving an equity capital raise and convertible note round), a loan facility, and the agreement for lease in relation to the Tomago site. This is in addition to providing advice on the company’s strategic projects and commercial arrangements.
Mark Chilcote, Managing Director, said: “it’s not often said when it comes to legal but Brent Delaney, Joshua Bell and the team at Hamilton Locke have been a breath of fresh air and an invaluable part of our start-up journey and that’s a hard task in a new industry. They are aligned to our business vision and have proved themselves beyond expectation - they are a genuine partner and are integral to our success”.
Reflecting on Hamilton Locke’s involvement with Energy Renaissance to date, partner Brent Delaney said: “it is a privilege to support the ER team, led by Dr Bruce Godfrey and Mark Chilcote, on their strategic legal projects and transactions and day-to-day legal needs. We are proud to have been closely involved in supporting the company’s growth journey since 2019. In that time, we have seen the business scale quickly and grow from strength to strength under Mark’s leadership. We are excited to be on this journey with ER and to see what the future holds for ER in its mission to make and sell lithium-ion batteries customised for hot climates – this is technology that will not only help the Australian advanced manufacturing industry, but will play an important role in the energy mix needed to help Australia, and the world, transition to a cleaner, greener future.”
The Hamilton Locke team advising Energy Renaissance is led by partner Brent Delaney, senior associate Joshua Bell, and closely supported by lawyer Stephen Vrettos. The team draws on the broader expertise across Hamilton Locke to support the business as required, including finance, intellectual property, employment, property, infrastructure and renewables, and litigation. Recently, partner John Frangi and senior associate Chafeka Elias advised the company in relation to the Tomago manufacturing facility and partner Zina Edwards and lawyer Calyb Soekoe advised the company in relation to its debt facility arrangements.