MetroElectro has closed a new funding round that strengthens its position in the fast-growing commercial and industrial solar market. The Melbourne-based startup, founded in 2024 by entrepreneur Lloyd Heinrich, focuses on large rooftop solar and battery systems for businesses. With fresh capital secured from existing and new backers, the company is preparing to scale its footprint and accelerate project deployment.
Details of the Latest Capital Raise
The latest round includes a $1 million equity investment from Singapore climate tech venture capital firm Wavemaker Impact. Alongside the equity, MetroElectro has secured a $4 million debt facility from Ecotone Partners through The Planet Fund, giving the business additional firepower to deploy systems at scale. According to the company, this capital will be used to expand its project portfolio, enhance its technology stack, and deepen relationships with key supply partners.
Business Model Targeting Commercial Rooftops
MetroElectro operates a “solar and storage as a service” model that removes the need for upfront capital from tenants or landlords. The company designs, finances, installs, owns, and maintains rooftop solar and battery systems, then generates revenue through the sale of electricity to its customers. By taking on the capex burden and aligning contracts with tenancy agreements, MetroElectro aims to eliminate the landlord-tenant stalemate that has slowed adoption in the commercial sector.
Growing Project Pipeline and Customer Adoption
The startup already has more than 50 projects in its near-term pipeline, representing over 20 megawatts of solar capacity and 20 megawatt-hours of battery storage. That portfolio equates to enough power for more than 3,000 homes and includes customers such as logistics provider Aramex, forklift supplier Linde Material Handling, and road-cleaning business Bucher Municipal. Aramex’s operations team highlighted that MetroElectro’s model allowed them to advance their ESG commitments with a rooftop solar solution that required no upfront investment.
Market Opportunity and Founder Background
Commercial and industrial buildings remain significantly underpenetrated compared to residential solar in Australia, with adoption estimated at around 5 percent. Analysts suggest that lifting this figure to 30 percent could deliver roughly a quarter of the country’s total electricity demand from these rooftops alone. Heinrich, previously GM of strategy and growth at Redbubble during its ASX listing and later CEO of The Wine Collective, saw firsthand how much unused roof space sits above warehouses and commercial sites, which helped inspire MetroElectro’s creation.
Investor Perspectives and Climate Impact
Wavemaker Impact partner Marie Cheong described commercial and industrial sites in Australia, Europe, and the United States as a massive untapped resource for decarbonization. She noted that fully utilizing these rooftops could cut global emissions by more than seven times Australia’s annual output, highlighting the climate significance of accelerating adoption. Heinrich added that the latest raise reflects the team’s work in delivering early projects, building a strong pipeline, and integrating scalable technology with industry partners who are ready to move now.
MetroElectro’s new mix of equity and debt funding marks a key step in its plan to unlock large-scale solar and storage across commercial and industrial properties. By owning and operating systems for customers, the startup aims to sidestep traditional adoption barriers while delivering immediate cost and emissions reductions for businesses. With a growing pipeline, established anchor customers, and backing from climate-focused investors, the company is positioning itself as a notable player in the energy transition on commercial rooftops.