Virescent Ventures has joined an AUD 50 million funding round for Melbourne-based IND Technology, supporting the expansion of the company’s Australian-developed manufacturing of Early Fault Detection (EFD) systems for energy utilities worldwide.
IND Technology’s technology, developed in Australia, monitors electricity grids for early signs of component failure, allowing utilities to prevent outages and reduce bushfire risks.
Sensors installed on poles up to 5km apart capture radio-frequency signals from stressed or failing components, with anomalies detected in real time to within 10 metres.
This enables maintenance teams to respond proactively rather than relying on periodic inspections, potentially improving grid reliability and reducing both economic and social costs.
The funding round, the company’s first institutional investment, is co-led by US-based Angeleno Group and Energy Impact Partners, with support from Edison International. Virescent Ventures serves as the Australian partner, contributing expertise and local market knowledge to accelerate IND Technology’s global growth.
Kristin Vaughan, Managing Partner at Virescent Ventures, said, “Grid reliability and resilience are among the most critical challenges and opportunities for the energy transition. Ageing infrastructure, hotter and drier summers, and rising bushfire risk all mean utilities need smarter tools to detect faults before they become costly outages or catastrophic fire events.”
She added, “IND Technology has already secured global traction and deep adoption with their proven, homegrown solution preventing fires and improving reliability across major networks in Australia and North America. This is exactly the kind of innovation needed to underpin the electrification of the global economy.”
Founded by RMIT Professor Alan Wong following the Black Saturday Bushfires, IND Technology has sold approximately 15,000 EFD units across six countries, with installations in Australia, the United States, Canada, and Europe.
Major utility clients include AusNet Services, Powercor, Western Power, Endeavour Energy, Southern California Edison, PPL Electric, PG&E, Fortis Alberta, and ATCO.
Prof. Wong, CEO of IND Technology, said, “For almost a decade, we’ve worked side-by-side with Australian utilities to prove that the EFD system can improve grid resiliency and reduce the risk of bushfires, with eight local pilots showing how valuable this technology can be when deployed at scale. With new partners, including local partners like Virescent Ventures, our focus is now on scaling our delivery, field support and deployments globally. This support is a strong affirmation of the value of homegrown innovation and Australia’s ability to lead in practical, life-saving engineering.”
