Canberra-based renewable energy company Windlab has successfully listed on the Australian Stock Exchange (ASX).

Windlab was established to commercialise technology developed by the CSIRO. The company manages and operates wind farms in South Australia and overseas from its global headquarters in Canberra City West.

ACT Chief Minster Andrew Barr described Windlab as a “great Canberra success story” and “evidence of Canberra’s maturing innovation ecosystem and support for word-class high-growth technology businesses”. He also noted the company’s many “touchpoints” with government programs and support networks in the ACT over its 13-year history. “Through its successful initial public offering, Windlab is demonstrating Canberra’s leadership in the renewable energy sector on the international stage,” he said.

Since listing, Windlab has already advised that it has become entitled to receive a milestone success payment of just over $10 million in respect of the Coopers Gap Wind Farm in South East Queensland operated by AGL Energy Limited and the Powering Australian Renewables Fund.

ACT Minister for Climate Change and Sustainability Shane Rattenbury said “Clean energy is the industry of the future. Windlab’s successful public listing is proof-positive of the exciting investment opportunities that are being created in the ACT”.

“We will continue to support local innovation to ensure we diversify Canberra’s economy and help more businesses make their mark, particularly as we move towards a city that is 100% powered by renewable electricity by 2020,” he added.