Power and gas supplier Origin is launching its own energy-focused startup program in a collaboration with accelerator hub Stone & Chalk.
The move comes as the business, which has 4.2 million customers, delivered its FY21 results, posting a staggering $2.29 billion loss, in part due to a shift in to renewable energy driving down prices. Underlying earnings fell by 69% on 12 months ago to $318 million.
The innovation program is called Originate and every few months, Origin plans to select the best ideas to pitch to its future energy team with potential to working with the company on trialing or prototyping the idea.
Origin’s executive general manager of future energy and technology, Tony Lucas, said that as the business branching out into areas such as broadband and EVs, it’s looking for startups and innovators with new ideas and solutions for customer.