Melbourne’s Fast-Growing Solar Power Company Secures New Funding to Accelerate Renewable Energy Projects
Australia’s commercial solar sector is getting a major boost as solar startup MetroElectro raises $1 million in fresh capital, backed once again by Singapore climate tech VC Wavemaker Impact.
Alongside the equity investment, MetroElectro also locked in a $4 million debt facility from Ecotone Partners, giving the young Melbourne company the resources it needs to scale quickly in a booming market for renewable energy.
Founded in 2024 by Lloyd Heinrich, MetroElectro has built a fast-growing business model that designs, installs, and maintains solar rooftop systems for commercial and industrial buildings with zero upfront cost. Instead, the company generates revenue through long-term power purchase agreements that make clean energy both accessible and affordable.
Wavemaker Impact first backed MetroElectro during its $1.03 million pre-seed round in May 2024, a sign of continued confidence in the company’s early traction and strong project pipeline. Heinrich is expected to raise an additional $3 million in early 2026 to support further expansion.
The spark for MetroElectro came while Heinrich — formerly Redbubble’s GM of strategy and growth — was running The Wine Collective. He recognized that commercial rooftops were a massive missed opportunity for clean energy deployment.
He says the latest investment is the result of “a significant amount of hard work” by the team to deploy early projects, build partnerships, and integrate technology that is ready to scale now.
“This investment is an important next step for MetroElectro, and we look forward to deploying this capital to speed the energy transition,” Heinrich said.
Today, the startup boasts over 50 projects in its near-term pipeline, totaling more than 20MW of solar and 20MWh of battery capacity—enough to power more than 3,000 homes. Customers include logistics giant Aramex, forklift supplier Linde Materials Handling, and municipal services provider Bucher Municipal.
For Aramex, the choice was clear. “MetroElectro gave us a solution that is cost-effective and didn’t require any upfront capital,” said operations director Adam Greer, emphasizing the company’s ESG commitment.
Despite Australia’s strong residential adoption, commercial and industrial buildings still lag behind with just 5% uptake. Raising that number to 30% could supply a quarter of the nation’s electricity demand.
According to Heinrich, one of the biggest barriers has been the landlord-tenant divide — confusion over who pays for solar installation. MetroElectro eliminates this friction by managing financing, installation, maintenance, ownership, and energy supply contracts, aligning everything with tenancy agreements.
Wavemaker Impact partner Marie Cheong says the opportunity extends far beyond Australia. Commercial rooftops in Europe and the US also represent an enormous untapped resource.
“If all these rooftops were properly utilized, we could reduce carbon emissions by more than seven times Australia’s annual emissions,” Cheong said. “Unlocking this potential is essential for countries aiming to transition to renewable energy.”
Conclusion
MetroElectro’s latest funding marks a powerful step forward for Australia’s solar energy future. As demand for clean power grows, follow, share, or comment to stay updated on the companies reshaping the renewable energy landscape.
