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Tech & Start-ups

In 2021 we focused on investing in technology and start-ups to help solve critical business challenges. We have created a dedicated venture capital fund to focus on investments in innovative companies that are consistent with our strategy.


We invested in Aymium to support their development of high quality, low impurity biocarbon that has the potential to reduce CO2 during ilmenite smelting. Every ton of Aymium’s product used in place of coal results in a net reduction of over 3 tons of CO2.


In 2023, we invested in ClearFlame, an innovation company dedicated to engineering transformative technologies that serve people, planet and profit. Their patented technology adapts diesel engines to run on ethanol, methanol or other renewable fuels and achieve the same performance and power of a traditional diesel engine while cutting carbon and costs.

Electric Hydrogen

We invested in Electric Hydrogen, a company that engineers, manufactures and delivers complete electrolyser plants that enable the low-cost and large-scale production of green hydrogen. EH2 plants produce hydrogen at a transformational low cost to help hard-to-decarbonise industries, such as steel, ammonia, and freight transport, achieve their economic and climate goals.


We invested in ElectraLith to support their development of an electro-filtration technology for lithium extraction and refining. This has the potential to significantly reduce lithium production costs which could make onshore processing more competitive.

GMG (Graphene Manufacturing Group)

We invested A$6 million in GMG to accelerate the development and application of GMG’s Graphene Aluminium-Ion batteries. Our agreement aims to co-develop GMG’s Graphene Aluminium-Ion battery pouch cell into an initial battery pack/module proof of concept.

Nano One

We’re partnering with Nano One, a North American technology company working on battery materials, to support their cathode active materials manufacturing for a cleaner and more efficient battery supply chain.

Rondo Energy

Rondo Energy has developed a heat battery that captures low-cost renewable electricity and delivers continuous high-temperature heat, enabling customers to power their operations with zero-carbon energy.

Terra CO2

We invested in Terra CO2 due to their unique technology to create supplementary cementitious materials from a wide variety of non-carbonate feedstocks and waste products, dramatically reducing the greenhouse gas emissions caused by cement production.