Virescent Ventures is one of four partners leading a $50 million funding round for Melbourne-based IND Technology, a leading global provider of 24/7 Early Fault Detection systems to utilities and grid operators around the world.
IND Technology’s Australian-developed, world-leading technology detects the precursors to electrical failures in energy grids long before they lead to faults, preventing power outages, incidents and bushfires.
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Sensors mounted on poles up to 5km apart capture radio-frequency signals emitted by stressed or failing components. These signals are analysed in real time, locating anomalies to within 10m so that maintenance crews can intervene proactively instead of waiting for the next scheduled inspection.
The result is a shift from periodic, reactive inspections to continuous, data-driven prevention. The technology improves reliability and resiliency, reduces the economic and social impacts of grid failures and helps lower maintenance and operating costs.
This marks IND Technology’s first institutional funding round, co-led by US-based energy sector specialists Angeleno Group and Energy Impact Partners, with Virescent Ventures participating and serving as the Australian partner, alongside backing from Edison International, one of the world’s largest electric utility holding companies.
The funding and support will supercharge the expansion of IND Technology and accelerate the deployment of its flagship Early Fault Detection (EFD) system, a proven preventative monitoring solution for electric utilities, which has prevented more than 500 fire events globally.
IND Technology will also use the capital to expand its machine-learning engineering team, further enhancing the platform’s ability to interpret complex fault data and deliver actionable insights for utilities.
Founded in Melbourne by RMIT Professor Alan Wong following the Black Saturday Bushfires, IND Technology is growing rapidly with approximately 15,000 early fault detection units now sold across six countries.
The company’s proven technology is now used by major utilities including AusNet Services, Powercor, Western Power, Endeavour Energy in Australia, Southern California Edison, PPL Electric and PG&E in the US, and Fortis Alberta and ATCO in Canada, with new installs also underway in Europe.
IND Technology CEO Prof. Alan Wong 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 it’s deployed at scale. What matters most to us is making sure this technology reaches the places where it can make the greatest difference.
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“With new partners, including local partners like Virescent Ventures who understand the Australian energy landscape, 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 in Australia’s ability to lead in practical, life-saving engineering. We’re committed to working closely with utilities to embed a prevention-first approach into energy networks and help protect the communities they serve.”
