Article

Magellan Power, a Perth-based energy storage firm, has received a $15 million investment from Viburnum Funds, marking its entry into the private equity space. The funds will facilitate the expansion of Magellan's operations, including the local manufacture of the Karri residential battery and community battery systems.

This investment aims to enhance Australian-made battery production and improve technology development. Magellan is also competing for funding through the federal government's Battery Breakthrough Initiative.