Australian Energy Storage Company Akaysha Is Said to Consider Stake Sale
(Bloomberg) -- Australia’s Akaysha Energy Pty is considering options to raise more funds, including selling a significant minority stake, as demand for energy storage grows, according to people with knowledge of the matter.
Akaysha may raise several hundred million dollars based on its valuation of over $1 billion, the people said, asking not to be identified discussing private information. The company is sounding out potential investors, but considerations are at an early stage and it may decide against a sale, the people said.
The Melbourne-based developer of large-scale battery energy storage systems already raised A$300 million ($200 million) in debt in September, with the proceeds intended to fund the development of its battery pipeline in Australia, Germany, Japan and the US. It also closed a A$460 million loan in November to fund a project in Australia’s Victoria state.
Akaysha, a portfolio company of Blackrock Inc., declined to comment.
Nearly 70% of Australia’s coal capacity will retire over the next decade, according to BloombergNEF, increasing demand for alternatives like batteries.
©2026 Bloomberg L.P.
