MELBOURNE NEWS

Economy

Twins tackle climate change, one building at a time 

19 May 2023

Imagine if a piece of software could save enough energy to power more than 160,000 homes for a year and reduce emissions equivalent to removing 195,000 cars from the road.

All this and nearly $318 million in annual energy savings is possible for Australia’s commercial building owners.

Enter twin brothers Tim and Iain Stewart, a passion for environmental engineering and a bright business idea co-founded during the University of Melbourne’s Melbourne Accelerator Program: Exergenics.

Exergenics’ advanced software optimises commercial cooling systems to reduce costs, energy consumption and emissions. Powered by machine learning and scalable software, the tool is on track to deliver global impact.

“Our passion stems from the urgency to address climate change. Cooling, an industry often overlooked, is a significant contributor to greenhouse gas emissions,” Tim said.

“By optimising cooling systems and making them more energy-efficient, we have the power to make a measurable difference in the fight against climate change.”

We are supporting Exergenics with industry connections and guidance through our Invest Melbourne division.

We have recently expanded our team with new TradeStart advisers who help small and medium-sized businesses like Exergenics identify and secure opportunities in global markets, in partnership with Austrade.

“Invest Melbourne has been a crucial partner in our journey towards success,” Tim said.

“Their support and guidance have opened doors to valuable connections within the industry.

“Through the Invest Melbourne network, we have been able to collaborate with leading industry bodies, gaining access to invaluable expertise and insights that have helped us grow our business.”

Exergenics is working with partners to export their solutions to international markets and plans to establish its first overseas presence in the US market this year.

“Our vision for Exergenics is to become the industry leader in optimisation solutions,” Tim said.

“We envision a future where our strategies and technologies are deployed globally, creating a substantial impact on energy consumption and carbon emissions worldwide.”

Top tips for startups

Do you have a changemaking business idea? We asked the Exergenics team to share their top tips for changemaking entrepreneurs. Here’s what they said:

  1. Start today: Don’t wait for the perfect moment or conditions.
  2. Seek expertise: Surround yourself with industry experts and mentors who can provide guidance and insights.
  3. Embrace feedback: Actively seek constructive criticism and feedback from others. Regularly validate your ideas by engaging in discussions and constantly iterate based on feedback.
  4. Persistence is key: Stay focused on your vision and persevere through obstacles.

Get support to grow your business

Experts from the City of Melbourne can help you unlock your business potential and join the many innovative and successful companies investing locally. To learn more, visit Invest Melbourne.

Interested in the Asian market?

Learn how to launch and grow your tech business in the Asian market through the next round of our Nexus startup program in July and August. This year’s theme will be: Smart Solutions for Zero Carbon Cities.

We deliver Nexus in partnership with the City of Nanjing’s Pukou High Tech Zone and the Australia-China Association of Scientists and Entrepreneurs, with support from the State Government of Victoria.

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