Company: Regen Power Pty Ltd, Perth, Western Australia, Australia
Company Description: Regen Power is a pioneer in commercialization and promoting renewable energy technologies in Australia meeting the power requirements of residential, commercial, off-grid markets in Australia and international markets since 2003. Our vision is to create affordable power solutions through sustainable measures and innovative technologies. Regen has been recipient of awards for sustainable growth.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Fastest-Growing Company of the Year - in Asia, Australia and New Zealand
 Nomination Title: Regen Power
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2021, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 181 words used.
Regen Power is a renewable energy solution provider meeting the power requirements of residential, commercial, off-grid markets in Australia and international markets since 2003. Now, we have an 10% market share in Perth with 40,000 installations generating 800,000 units per day and started operations all over Australia. Our installation rate is up by 300% and our sales are expected to grow by 40%. We have installed solar farms of 5MW and 50MW capacity in Malaysia, Vietnam and India. Regen has patented HybridGen which is a next-gen variable speed diesel generator. A Tesla and Huawei certified installer, Regen is the only ISO 9001:2015 certified solar company. Some of achievements of the past are as follows:
- Fast 100 2020, ranked as 55th Fastest Growing company in Australia in 2020 by Australian Financial Review
- Top 500 High Growth Companies in Asia Pacific’ by Financial Times for 2020, 2021, 2022, 2023
- 600% turnover growth in 5 years, $5M in 2016 to $30M in 2022
- Over 1000% Net profit growth in 5 years, -$100k net profit in 2016 to +$1.2M in 2022
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's growth achievements since the beginning of 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 250 words used.
The biggest move that made Regen Power a household name was appointing cricket legend Bret Lee as brand ambassador in 2021. Sales shot up drastically after this. This year, Regen Power also won ProductReview Award 2021 and was ranked 326th amongst the top 500 high growth companies in the Asia-Pacific region. In response to market changes, Regen Power strategically shifted its focus towards storage and EV charging, diversifying its revenue streams. Amidst the challenges posed by the Covid-19 pandemic, Regen Power proactively launched the "Regen Solar Academy," an online training program that equipped individuals with the necessary skills for employment in the solar industry. These initiatives played a crucial role in expanding market share and driving profitability for the company.
We were able to reach the milestone of adding $22.4M revenue in 2021 which marked upsurge in market share by 8%. We completed 25,000 installations in 2021 which has gone up to 40,000 installations for 2023. We recorded that our installation rate in up 100% in 2021 which was recorded at now 400% in 2023.
Last year was particularly special for Regen as it became the first company to:
- Complete 20 years in the solar renewable energy industry
- To win ProductReview Award three times in a row, i.e. 2021, 2022, 2023
- Ranked in ‘Top 500 High Growth Companies in Asia Pacific’ by Financial Times four times in a row for 2020, 2021, 2022, 2023.
- MD selected along with PM Antony Albanese to a foreign delegation.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the growth achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 250 words used.
There are myriad achievements that make it outstanding among its competitors which are as follows:
- ISO 9001:2015 certification: Regen is the only solar retailer in Australia to have this certification.
- Company’s existence: Regen has been in business for over 20 years, while our closest competitor has only been in business for 13 years. Moreover, over 1000 solar retailers have gone out of business in Australia, which means that there is a risk that a customer's warranty may not be honored if they choose to go with other brands.
- Market share: Regen has the highest market share, i.e., 9% in the Western Australian solar market. We have installed over 40,000 residential, 2,000+ commercial, and 500+ storage systems.
- Customer reviews: Regen has a very positive online and offline reputation as a brand. We have won three ProductReview awards with 4.9 average rating and were voted for the People's Choice Awards in the Rising Star Awards 2019.
- Market focus: Not only domestic market, we also have a diversified business that includes off-grid markets, solar farms, and a learning platform called Regen Solar Academy. We are also one of the few companies in Australia that offers EV charging solutions.
- Financial growth: Regen has been one of the fastest growing companies in Australia. In the past five years, our revenue has grown from $5 million to $30 million, which represents a 600% increase. We were also ranked 55th on the Financial Review's list of the fastest growing companies in Australia.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 110 words used.
- Product Review Award 2021, 2022, 2023- Links
- Belmont Awards 2019, 2021, 2022
- Top 500 High Growth Companies in Asia Pacific’ by Financial Times for 2020, 2021, 2022, 2023.
- Ranked as 55th Fastest Growing company in Australia by Financial Review in 2020
- MD selected along with PM Antony Albanese to form a foreign delegation. PR
- Completed 20 years- PR
- CEO Insights Top 10 Best Indian Leaders in Australia 2022
- Asia's Most Influential Young Leaders 2022 and 2021
- Finalist MD of the year by CEO Magazine
- Winner ‘Sustainable Energy Association Awards’ for 2 categories i.e., product & technology by Ambassador
- Finalist of ‘Australian Technologies Competition 2014’ and semi-finalist 2019 for “HybridGen”
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