Formbay invests in Diagno Energy to scale cloud-based solar and battery diagnostics platform
Type: Investment · Technology: Storage · Country: Australia · Announced: 2026-05-20
Formbay, a leading Australian provider of clean energy installation compliance and validation services, announced a strategic investment in Diagno Energy, the developer of a cloud-based diagnostics platform for solar and battery energy storage systems. The platform collects data from smart energy devices such as solar inverters, battery systems, EV chargers, and power meters, then applies statistical analysis and machine-learning models to optimize asset performance and reduce risk. Diagno Energy currently manages over 300 MWp of solar and battery capacity across more than 5,000 connected devices in Australia, with plans to expand to 1 GW by the end of 2026. The company aims to reach one million users across five countries by the end of 2027, targeting residential, commercial, industrial, and small utility-scale markets. Formbay's investment will accelerate platform development, expand industry integrations, and strengthen analytics capabilities to support broader deployment in the clean energy sector.
Counterparties
- Diagno Energy (Developer)
- Formbay (Investor)