Mills Oakley has advised Energy Impact Partners and Angeleno Group on their A$50 million investment in IND Technology, the leading global provider of early fault detection systems, which identify and address electrical faults in energy networks before they cause wildfires, outages or equipment damage.

Angeleno Group is an LA-based pioneer in providing venture capital and growth equity to clean energy and climate solutions companies.

Energy Impact Partners is a US-based global technology investor specialising in the energy transition with over $4.5 billion in assets under management.

IND Technology is an Australian business that partners with leading utilities across North America, Australia, and Asia to support a safer, more resilient, and efficient electric grid. The company’s proprietary Early Fault Detection (EFD™) system uses distributed sensors and patented ML-driven algorithms to detect early-stage faults on transmission and distribution lines.

The transaction was co-led by Energy Impact Partners and Angeleno Group with participation by Edison International, one of the largest electric utility holding companies in the US, and Virescent, Australia’s largest dedicated climate and energy venture investor.

Mills Oakley advised the co-lead investors on all Australian legal aspects of the transaction, including taxation and foreign investment advice.

The core deal team comprised Brent Delaney (Lead Partner, Corporate Advisory), Melanie Hemers (Special Counsel, Corporate Advisory), Paul Wentworth (Special Counsel, FIRB), Chloe Kennedy (Associate, Corporate Advisory) and Katie Zheng (Paralegal, Corporate Advisory) with support from Andrew Spalding (Partner, Tax), Rob Humphreys (Partner, Employment), Harry Beaton (Associate, Employment) and other specialists across the firm.

Commenting on the transaction, Brent Delaney said:

“We are proud to have assisted EIP and Angeleno to deploy this capital and to partner with IND Technology. We have a long history of collaborating with EIP and their US legal team at Reitler and it’s always a rewarding experience to assist them to back leading Australian businesses. This was our first transaction with Angeleno and it was a pleasure to work with such a commercially focussed and practical team.”

Reitler Kailas & Rosenblatt (New York) acted as US legal counsel for Energy Impact Partners.

IND Technology was advised by DLA Piper (legal counsel) and Ord Minnett (corporate adviser).

Perkins Coie (Bay Area) acted as legal counsel to Edison International.