Synertec Corporation Limited: Company Profile

Background

Overview

Synertec Corporation Limited, established in 1996 and publicly listed on the Australian Stock Exchange in 2017 (ASX: SOP), is a diversified technology and engineering company headquartered in Melbourne, Australia. The company specializes in delivering innovative solutions across various sectors, including Water, Power & Gas, Transport, Life Sciences, Future Energy, Mining, and Manufacturing. Synertec is committed to enabling a low-carbon future through its advanced technology offerings.

Mission and Vision

Synertec's mission is to provide environmentally sustainable solutions to complex industry challenges, leveraging its engineering expertise to drive the transition to a low-emission future. The company's vision is to be a leading provider of innovative technology solutions that enhance productivity, efficiency, and safety across its diverse client base.

Industry Significance

Operating in the engineering and technology sectors, Synertec plays a pivotal role in advancing sustainable practices and technological innovation. Its contributions are particularly significant in the renewable energy sector, where its Powerhouse microgrid system offers reliable, 100% renewable power solutions for remote industrial operations.

Key Strategic Focus

Core Objectives

Sustainable Innovation: Develop and deploy technologies that support the transition to a low-carbon economy.

Operational Excellence: Enhance efficiency and reliability in engineering and technology services.

Market Expansion: Broaden the company's presence in both domestic and international markets.

Areas of Specialization

Engineering Services: Automation, control systems engineering, electrical engineering, functional safety, and project management.

Technology Solutions: Development of renewable energy systems, particularly the Powerhouse microgrid technology.

Key Technologies Utilized

Powerhouse Microgrid System: A 100% renewable and portable solar Battery Energy Storage System (BESS) designed to deliver reliable base load power for remote industrial operations.

Prism Platform: A proprietary software platform that captures data, transforms it into the required format, and delivers it to end recipients either electronically or through traditional mail.

Primary Markets Targeted

Energy Sector: Providing sustainable power solutions for remote industrial sites.

Infrastructure: Offering engineering services for critical infrastructure projects.

Life Sciences: Delivering engineering solutions for pharmaceutical and research facilities.

Financials and Funding

Funding History

Initial Public Offering (IPO): Listed on the Australian Stock Exchange in 2017.

Debt Facility: Secured a $15 million debt facility with Altor Capital in FY24, with an extension of up to A$4 million announced in 2025, increasing the total available capital to A$19 million.

Recent Funding Rounds

Share Placement: Completed a share placement of $7 million in FY24 to support the rollout of Powerhouse technology and other growth initiatives.

Notable Investors

Altor Capital: Provided the debt facility supporting Synertec's growth and technology development.

Utilization of Capital

Powerhouse Technology Rollout: Funding is directed towards the commercialization and deployment of the Powerhouse microgrid system.

Operational Expansion: Enhancing engineering capabilities and expanding market reach.

Pipeline Development

Key Pipeline Candidates

Powerhouse Microgrid System: A renewable energy solution designed for remote industrial applications, with ongoing deployments and interest from major energy companies.

Stages of Development

Prototype Upgrades: First-generation units have been upgraded based on field experience to align with second-generation units.

Operational Units: Second-generation units have been operational since September 2024, demonstrating over 99.9% uptime.

Target Conditions

Remote Industrial Sites: Providing reliable, renewable power solutions for operations in isolated locations.

Anticipated Milestones

Deployment Expansion: Plans to deploy additional Powerhouse units in collaboration with major energy players.

Product Enhancements: Ongoing improvements to increase efficiency and reduce costs.

Technological Platform and Innovation

Proprietary Technologies

Powerhouse Microgrid System: An innovative solution delivering 100% renewable power to remote sites.

Prism Platform: A proprietary software platform for document management and communication.

Significant Scientific Methods

Systems Engineering Approach: Applied across the full lifecycle of project delivery to ensure optimal performance and reliability.

Leadership Team

Key Executives

Michael Carroll: Founder, Managing Director, and CEO. With a background in engineering, he has been instrumental in Synertec's growth and technological advancements.

Dennis Lin: Chair of the Board. He has overseen strategic initiatives and guided the company's direction in the renewable energy sector.

Competitor Profile

Market Insights and Dynamics

Market Size and Growth Potential: The renewable energy sector, particularly in remote power solutions, is experiencing significant growth due to increasing demand for sustainable energy sources.

Industry Trends: A shift towards decentralized energy systems and microgrids is evident, with a focus on reliability and sustainability.

Competitor Analysis

Key Competitors: Companies offering renewable energy solutions for remote sites, such as Tesla's Powerpack and other microgrid providers.

Competitive Landscape: Synertec differentiates itself through its proprietary technology, local expertise, and established relationships with major industry players.

Strategic Collaborations and Partnerships

Significant Collaborations

Santos Ltd: Confirmed intent to issue purchase orders for additional Powerhouse systems, indicating strong industry interest.

Altor Capital: Provided financial support through a debt facility, enabling Synertec to scale its operations.

Operational Insights

Strategic Considerations

Market Position: Synertec holds a competitive position in the renewable energy sector, leveraging its innovative technology and strong industry relationships.