Australian startup MilkRun may have attracted more than $85 million in venture capital but it always had a challenging business model.
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While this prominent and well funded project has gone into voluntary administration, those enthused about rapid decarbonisation and Australia’s renewable energy export potential need not despair.
Software billionaire Mike Cannon-Brookes failed to take over AGL, but he has succeeded in getting a friendlier board of directors.
Mike Cannon-Brookes has blocked AGL’s demerger – for now. But can he force it to accelerate the closure of its coal and gas-fired power stations?
The plan would address failures in the National Electricity Market, and would see a more orderly transformation process from coal to clean energy.
AGL’s board has knocked back a billionaire-led bid to shut its coal generators. Serious negotiations will now begin – and Mike Cannon-Brookes has form on transforming Australian power generation.
