Amber secures $45 million to expand battery technology
Amber has secured $45 million in new funding to support the global expansion of its home battery and electric vehicle automation technology.
The funding round was led by UK and Europe-based impact investor ETF Partners, with participation from established investors Square Peg, Gentrack, Rubio Impact Ventures, and Breakthrough Victoria.
According to Amber, this capital will enable the company to scale its operations as the Australian market readies for a significant boost in home battery adoption from July 2025 when the federal government's Cheaper Home Batteries Program rebate takes effect.
In Australia, Amber reports that its automation technology is used in 40% of newly-automated home batteries, positioning it as the largest residential battery automation provider in the country. The company's solution enables households to manage their energy usage and benefit financially from their energy assets.
Amber's technology, developed in Australia which is described as the world's most advanced two-way energy grid, is now expanding overseas. The company has signed agreements with UK utility E.ON and UK energy retailer Ecotricity and is pursuing additional growth across Europe.
Dan Adams, Co-Founder and Co-Chief Executive Officer at Amber, said, "We're proving there's a better way to do energy – with technology that puts customers at the centre of the energy transition. 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."
He added, "As more countries shift to decentralised, renewable energy, we're excited to bring Amber's model to the world stage – helping to build smarter energy systems everywhere."
Amber's service gives users access to real-time wholesale electricity pricing and provides automated control over home batteries and electric vehicles. The system charges batteries and EVs when renewable energy is plentiful and prices are lower, and sells energy back to the grid during peak pricing. The company is also developing vehicle-to-grid (V2G) capabilities, including a feature that will allow EV owners to sell electricity from their vehicle battery back to the grid and benefit financially when electricity demand is high.
Rob Genieser, Managing Partner at ETF Partners, said, "Amber is redefining how utilities and consumers interact with energy. 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. We want to back leaders driven by a strong sense of purpose, and Amber's founders have demonstrated their commitment to transforming global energy markets for the better."
Amber's plans for international growth are supported by a strategy to license its technology through Gentrack's global utility partner network, combining Gentrack's billing and CRM solutions with Amber's automation software in a bundled offer for utility customers.
The partnership with Gentrack is aimed at addressing growing international demand for energy technologies that are both customer-focused and capable of facilitating smart grid solutions. This approach seeks to help utilities meet consumer demands for more control and cost-saving opportunities in energy consumption, particularly as renewable generation and distributed energy resources grow in prominence.
With the Australian battery market expected to accelerate due to new government subsidies and continued global interest in clean energy, Amber is positioning itself as a provider of technology for decentralised, consumer-led energy systems.
