A new energy retailer is entering the Australian market and pioneering a groundbreaking business model. It will empower consumers to reduce their power usage and potentially use more renewable energy.
The Australian Renewable Energy Agency (ARENA) and SBCVC have backed a $5 million Southern Cross Renewable Energy Fund investment into Mojo Power.
ARENA CEO Ivor Frischknecht said Mojo was a home-grown Australian business and the world’s first energy retailer which doesn’t rely on selling more power for more profit.
“Mojo supplies electricity to its customers at cost and charges a fixed monthly fee. This allows Mojo to focus on working with customers to unlock cheaper energy bills through solar, storage and energy efficiency,” Frischknecht said.
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