Who we are

Dr Karel (Karl) Nolles is an energy-market specialist, investment professional and executive adviser with approximately 30 years’ experience across banking, government, consulting, utilities, research and technology ventures.  He holds a PhD in Energy Economics and Electrical Engineering from UNSW.

MARKETS AND POLICY
Karel has worked on electricity-market design, prudential and settlement arrangements, renewable integration and system reform. His experience includes consulting assignments for the Australian Energy Market Commission and the Australian Financial Markets Association, as well as a Northern Territory Government senior executive position working on the design and implementation of the NT Electricity Market.

INVESTMENT AND TRANSACTIONS
From 2007 to 2013, Karel worked in Macquarie Bank’s Climate Change and Utilities team and Macquarie Global Investments. His aggregate career transaction experience is approximately A$2.4 billion across energy, climate, infrastructure, technology and other investments.

EXECUTIVE LEADERSHIP
Karel has held director and CEO, COO and CIO roles, including operating and commercial leadership in energy and technology businesses. He has been an investor, founder or executive in multiple ventures spanning peer-to-peer finance, energy trading, software, blockchain and biodiversity markets.

RESEARCH AND INNOVATION
He was a UNSW Senior Research Fellow and founding co-director of the Centre for Energy and Environmental Markets from 2004 to 2006, a Visiting Professor at JGSEE/KMUTT in Bangkok from 2020 to 2024, and a retained adviser to the NSW Department of Environment from 2020 to 2023. His work has repeatedly involved turning research and policy ideas into investable products, operating businesses and practical market arrangements.

Aton is led by Dr Karl Nolles, and specialist collaborators from our long term network are engaged where an assignment requires additional technical, legal, economic or sector expertise.