Strategic investment amid strong growth outlook for climate tech

We are pleased to announce that MGA Thermal, secured investment from climate tech angel syndicate Electrifi Ventures in partnership with Climate Salad. This investment joins ARENA’s recently announced $2.5 million funding boost in a rapidly closed Pre-Series B round.

The investment comes as new data from the Angel Investment Network reveals that 80% of Australian startups express optimism about their 2025 prospects, despite 71% citing investment access as their primary challenge. This highlights the strategic importance of Electrifi Ventures’ rapid two-week deal closure for MGA Thermal’s growth trajectory.

“In a landscape where funding accessibility remains the biggest hurdle for founders, the combined support of Electrifi Ventures and Climate Salad demonstrates the power of ecosystem collaboration in advancing climate innovation,” said Mark Croudace, CEO of MGA Thermal. “This investment, alongside ARENA’s support, will accelerate the completion of our Demonstration Unit, advancing our mission to revolutionise industrial energy storage.”

“With many Australian climate tech deals still in pre-seed and seed stages, angel investment remains one of the largest and most impactful funding source,” said Danin Kahn, Partner at Electrifi Ventures. “Our network of over 350 climate tech-focused angel investors is committed to bridging critical funding gaps with the speed and certainty that emerging clean technology companies need.”