About MGA Thermal
MGA Thermal is a company based in Newcastle (Australia) founded in 2019 by Erich Kisi, Alexander Post, and Dylan Cuskelly.. MGA Thermal has raised $35.01 million across 6 funding rounds from investors including Shell, Pollination and Electrifi Ventures. MGA Thermal offers products and services including TESS. MGA Thermal operates in a competitive market with competitors including Form Energy, Northvolt, Ambri, Verkor and VFlow Tech, among others.
- Headquarter Newcastle, Australia
- Founders Erich Kisi, Alexander Post, Dylan Cuskelly
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Sectors
Energy & Utilities
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Email
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Phone
*********
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Website
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Social
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- Legal Name Mga Thermal Pty Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$35.01 M (USD)
in 6 rounds
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Latest Funding Round
$14.1 M (USD), Series A
Dec 03, 2024
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Investors
Shell
& 9 more
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Employee Count
Employee Count
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Products & Services of MGA Thermal
MGA Thermal offers a comprehensive portfolio of products and services, including TESS. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Scalable system for long-duration thermal energy storage from renewables.
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Funding Insights of MGA Thermal
MGA Thermal has successfully raised a total of $35.01M across 6 strategic funding rounds. The most recent funding activity was a Series A round of $14.1 million completed in December 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series A — $14.1M
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First Round
First Round
(05 May 2020)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Dec, 2024 | Amount | Series A - MGA Thermal | Valuation |
investors |
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| Apr, 2024 | Amount | Seed - MGA Thermal | Valuation |
investors |
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| Aug, 2023 | Amount | Seed - MGA Thermal | Valuation | Varley , Melt Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in MGA Thermal
MGA Thermal has secured backing from 10 investors, including venture fund and institutional investors. Prominent investors backing the company include Shell, Pollination and Electrifi Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Venture capital investments are made in deep tech founders.
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Founded Year | Domain | Location | |
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Capital and expertise are provided to Australian manufacturing startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by MGA Thermal
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - MGA Thermal
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Mga Thermal Comparisons
Competitors of MGA Thermal
MGA Thermal operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Form Energy, Northvolt, Ambri, Verkor and VFlow Tech, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Iron-air energy storage systems are developed for renewable energy projects.
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Lithium-ion batteries for electric vehicles are manufactured and optimized.
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Liquid metal batteries are provided for long-duration energy storage.
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| domain | founded_year | HQ Location |
Lithium-ion batteries are manufactured for electric vehicles and storage.
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| domain | founded_year | HQ Location |
Manufacturer of low-cost, efficient vanadium redox flow batteries
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| domain | founded_year | HQ Location |
Compressed air is stored underwater for electricity generation.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Mga Thermal
Frequently Asked Questions about MGA Thermal
When was MGA Thermal founded?
MGA Thermal was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is MGA Thermal located?
MGA Thermal is headquartered in Newcastle, Australia. It is registered at Newcastle, New South Wales, Australia.
Who is the current CEO of MGA Thermal?
Erich Kisi is the current CEO of MGA Thermal. They have also founded this company.
Is MGA Thermal a funded company?
MGA Thermal is a funded company, having raised a total of $35.01M across 6 funding rounds to date. The company's 1st funding round was a Seed of $8.25M, raised on May 05, 2020.
What does MGA Thermal do?
MGA Thermal was founded in 2019 in Newcastle, Australia, focusing on the energy storage sector. Modular blocks are assembled into insulated tanks to capture and retain excess thermal energy. This stored energy is utilized for diverse applications, including grid stabilization and base load power generation. Operations emphasize reliable thermal management to support consistent electricity supply in renewable energy systems.
Who are the top competitors of MGA Thermal?
MGA Thermal's top competitors include Form Energy, Northvolt and Ambri.
What products or services does MGA Thermal offer?
MGA Thermal offers TESS.
Who are MGA Thermal's investors?
MGA Thermal has 10 investors. Key investors include Shell, Pollination, Electrifi Ventures, Main Sequence, and Melt Ventures.