AGL Energy, an Australian energy retailer, and Kaluza, an energy software business headquartered in London, are expanding their partnership. AGL has acquired a 20% stake in Kaluza for US$100 million (about £78 million).
Kaluza’s software platform enables utilities to automate customer operations and optimise energy usage across connected devices. It will be rolled out to AGL’s four million customer services as part of its Retail Transformation Programme.
The multi-year licensing agreement and investment builds on a working partnership that began in 2021 and included the operational and technical integration of the OVO Energy Australia customer base on the Kaluza platform.
Kaluza has a proven track record of supporting retailers like OVO in both Australia and the UK. Capital from the transaction will support the software company’s expansion further within Europe and into Japan and the US.
Melissa Gander, Kaluza CEO, said: “Being selected by AGL as its cornerstone partner to reimagine energy together is a significant milestone for Kaluza and a testament to the game-changing capabilities of our platform.”
Stephen Fitzpatrick, OVO and Kaluza founder, added: “This AGL deal is a major step towards Kaluza’s mission to help power a world where net zero is within everyone’s reach. Australia is ahead of the curve in tackling the intense demands on its energy system – from the most volatile energy prices to the proliferation of EVs and incorporating solar into the grid.”
Kaluza has spent five years managing EV charging experience across global markets, including the UK, the US, Spain and Australia.
In the UK, the Kaluza-powered ‘OVO Charge Anytime’ EV charging plan enabled customers to charge at 7p/kWh at any time of day or night, with the provider claiming customers can get a year’s worth of driving for £190. Since the tariff’s launch in March 2023, the company says Charge Anytime customers have saved over £5.5 million.
Earlier this year, Kaluza partnered with Wallbox to pilot EV vehicle-to-everything (V2X) charging technology. Customer enrolment is expected at the end of 2024. The programme operation and data collection will extend through September 2026.