27 September 2023

ZEN Energy says Yes to an Aboriginal and Torres Strait Islander Voice and the full implementation of the Uluru Statement from the Heart. 

It is important and consistent with our purpose and values that ZEN takes this position. 

Australia’s Constitution is 122 years old and still does not recognise Aboriginal and Torres Strait Islander people as the first peoples of this continent.  

The Voice is an act of recognition of the first peoples of this land we share, giving Aboriginal and Torres Strait Islander people a say over the things that affect them. 

Listening to First Nations peoples can help drive better and fairer outcomes for individuals, families and communities: for health, housing, and more. And drive better outcomes for all Australians, including our cultural heritage, the wellbeing of our communities, and for the health of our unique landscapes. 

In 2023, ZEN launched its inaugural Reconciliation Action Plan (RAP). Our RAP is guiding an ongoing process of education, of Truth Telling and learning for our people. Our vision for Reconciliation is a united one, where we come together and embrace opportunities to learn, to grow and transform, and heal together as a nation. We see the Voice as a vital step in this process.  

ZEN acknowledges that First Nations peoples of Australia hold unique knowledge and rights inherited from their ancestors and the land. We recognise that sovereignty was never ceded, that colonisation was unjust and often violent, and that history casts a long shadow over First Nations peoples today. 

Rightful recognition of, and genuine reconciliation with, First Nations peoples is crucial to meaningful action on climate change, as well as the care and protection of our unique nature and landscapes. 

Traditional ecological knowledge (TEK) is a widely recognised and studied Indigenous science of humanity’s relationship with the natural world – one that exists in some form or other across more than 5,000 Indigenous cultures. 

TEK is a cultural belief system, a way of knowing, through engaging with the natural environment, weather systems, the power of plants, migrations of animals and lifecycles: gathering data, testing hypotheses, and communicating through many forms and across generations. Everything is interconnected, a collaborative eco-system.  

13 September 2023

Australia’s first 1.5° Energy Company secures $54M in first tranche of capital raise.

Australian owned and operated ZEN Energy is on track to raise $150 million in capital to support its ambitious renewable energy strategy, with a first tranche of $54 million secured.

Tranche A has closed at $54M with Western Australian based Hesperia, a B Corporation accredited developer and manager of sustainable projects, and ASX listed, Income Asset Management (IAM). Tranche A more than doubles any successful capital raise ZEN has transacted in the last three years and is a demonstration of capital investors’ growing confidence in ZEN’s 1.5-degree focused business model. ZEN is expecting the whole facility to reach $150M upon completion.

“Hesperia is pleased to partner with ZEN, given the strong alignment of our ethos and ambitions in providing leadership through the energy transition. ZEN’s unique business model of matching sustainability-driven customers with long-term renewable storage and generation contracts has had great success since 2020, with earnings growth exceeding 50% CAGR. We look forward to furthering our initiatives in renewable energy and supporting ZEN with its future growth plans,” said Adrian Fini, Director of Hesperia.

“IAM contributed an initial raising of $20M of Tranche A. We were impressed with ZEN’s approach to Australia’s energy transition, its significant commercial and government customer pipeline and its plans for ongoing growth. ZEN is one of the clear leaders in the renewable energy industry and generated a significant EBITDA result in FY23,” said IAM’s CEO, Jon Lechte.

“This capital will enable us to continue to accelerate our growth plans across Australia. Our business model is robust, and we are excited to attract so many new investors especially those from the West, who are keen to take their part in the energy transition,” said ZEN’s CEO Anthony Garnaut.

ZEN is raising capital to fund the next phase of growth. This is characterised by scaling its current profitable business model as well as laying the foundation for the business to develop and own physical renewable and storage assets and grow into a leading energy retailer.

“With this injection of capital, ZEN plans to bring on more renewable energy and storage into our portfolio, including from assets that we are developing. This will enable us to scale our partnerships with existing and new sustainability driven customers to accelerate their path to 100% renewable,” added Anthony.

30 August 2023

Australia’s first 1.5° Energy Company signs up to Global Equal by 30 Initiative.

ZEN Energy announced today that it has become a signatory to the global Equal by 30 initiative. Equal by 30 is a public commitment by public and private sector organisations to work towards equal pay, leadership and opportunities for women in the clean energy sector by 2030.

“ZEN is the first Australian headquartered energy retailer to become a signatory to this important global program,” said ZEN Non-Executive Director and Chair of ZEN-A, Paula Conboy. “As Chair of ZEN-A, ZEN’s female engagement network, I am proud of the work that the team has done to get us to this point.”

“We are building an organisation where women take a key role across our business. ZEN-A was launched in January this year, and already, we have signed up to this important program joining fellow signatories the Australian government and the Clean Energy Council.”

As a signatory, ZEN has expanded on the required private company principles to include goals to reach full gender balance by 2030, revising its parental policy to industry best practice and expanding female representation at the leadership level.

“We are delighted that ZEN has become a signatory,” said Nicola Falcon, 2023 Equality Initiative Ambassador for the Australian Department of Climate Change, Energy, the Environment and Water. “We must continue to inspire the next generation of women leaders in Australia’s clean energy industry on our journey to transforming the energy sector and achieving net zero.”

“ZEN has a deeply engaged team with our recent engagement score of 89% being 19% above our industry average. Key to keeping our team engaged is deepening our commitment across the full range of ESG (Environmental, Social & Governance) areas including gender equality,” added Anthony Garnaut, ZEN Energy CEO.

ZEN-A was formed to give women a place to discuss issues relevant to them, to be leaders and to provide a framework for equality within ZEN. Žena is the word for woman across a number of Slavic countries.