In a landmark energy-tech agreement
Law firm Gadens has provided legal counsel to Kaluza Ltd (Kaluza) in securing a multi-year licensing agreement and a US$100 million equity investment from AGL Energy Ltd. This strategic partnership is part of AGL’s Retail Transformation Programme, which grants AGL a 20 percent stake in Kaluza.
Kaluza is a global energy software company owned by OVO Energy Ltd that will implement its technology platform across AGL’s 4 million customer base. This platform aims to help energy utilities reduce operational costs and optimise energy usage across millions of devices.
The investment from AGL values Kaluza at approximately US$500 million, making it one of the largest energy-tech investment rounds to date. This funding will support Kaluza’s expansion into Europe, Japan, and the US, where utilities are also under pressure to modernise their retail operations and manage energy transitions.
Gadens advised Kaluza on the transaction, including the investment documents and delivering Kaluza’s technology platform to AGL.
“Joining forces with 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. We were pleased to have Gadens assist us with this transaction,” Kaluza CEO Melissa Gander said.
The legal team from Gadens included lead partner Michael Kenny, supported by special counsel Raisa Blanco on the licensing agreement and senior associate Christopher Lau on the equity investment.
“It was a pleasure to assist the Kaluza team, and we look forward to seeing the momentum that Kaluza will gain with a greater footprint throughout Australia and globally,” Kenny said.
