Energy tech startup Amber raises $45m to accelerate global expansion
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The news: Smart energy technology company Amber Electric has secured $45 million in funding to expand its battery and electric vehicle automation technology globally, with a focus on European markets.
The context: The $45 million funding round was led by UK/Europe-based impact investor ETF Partners (The Environmental Technologies Fund), with participation from existing investors including Square Peg, Gentrack, Rubio Impact Ventures and Breakthrough Victoria. Amber currently controls 40% of Australia's new automated home battery market.
The capital raise positions Amber for growth ahead of the Australian government's Cheaper Home Batteries Program rebate, which begins on 1 July 2025. The company's technology allows customers to access real-time wholesale electricity prices and automates home batteries and EVs to charge during periods of cheap renewable energy availability. Amber is developing vehicle-to-grid capability that will enable customers to sell energy from their EVs back to the grid.
The company has partnered with Gentrack to offer bundled solutions combining billing and CRM systems with Amber's automation software to utility customers globally. The company has already established partnerships with major UK utilities E.ON and Ecotricity.
What they said: "We're proving there's a better way to do energy — with technology that puts customers at the centre of the energy transition," said Dan Adams, co-founder and co-CEO of Amber. "This investment is a huge step forward in our mission to help households around the world take control of their energy, reduce costs, and support the energy transition."
"Amber is redefining how utilities and consumers interact with energy," said Rob Genieser, managing partner at ETF Partners. "Their technology not only optimises energy usage but also enables greater integration of renewables, paving the way for a more resilient and sustainable energy system."
The source: Amber announcement
