Melbourne-based Amber, a developer of smart energy technology, announced that it has raised €25.6M in a funding round led by UK/Europe-based impact investor ETF Partners (The Environmental Technologies Fund).
The Dutch impact investor Rubio Impact Ventures has participated again in this round.
Rubio Impact Ventures is an impact venture fund based in the Netherlands with €150M AUM.
Rubio invests in world-changing entrepreneurs who unite powerful positive impact with a scalable commercial business; the future-proof approach to successful business.
Helmer Schukken, Managing Partner at Rubio Impact Ventures, says, “Amber has proven that their technology works and scales. They’re transforming how households interact with energy and enabling a smarter, decentralized energy future. Their platform connects home batteries and EV chargers to real-time energy prices – charging when renewables are cheap and abundant, and discharging when prices peak. This is a win-win for households and the energy grid. We’re pleased to support them again in this next growth phase.”
Other existing partners, including Square Peg and Gentrack, also participated in the round.
Fund utilisation
The Australian company will use the funds to scale its operations further into Europe.
The company has already signed deals with E.ON, one of the largest utilities in the UK, and with Ecotricity, an environmental-focused energy retailer, and is now focused on accelerating growth across Europe.
Amber’s international strategy includes licensing its technology through Gentrack’s global network of utility customers, offering bundled solutions that combine Gentrack’s billing and CRM systems with Amber’s automation software.
Amber: Developing smart energy technology
Amber is a technology company and electricity retailer with a mission to shift the world to 100 per cent renewables.
The company provides customers with access to real-time dynamic electricity prices and technology that automates their home batteries and electric vehicles (EVs).
This allows them to use more affordable renewable energy when it is available on the grid and to sell any excess renewable energy back to the grid at the same price that large generators receive.
“We’re proving there’s a better way to do energy – with technology that puts customers at the centre of the energy transition,” says 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.”
The company is currently building its vehicle-to-grid (V2G) capability that will enable customers to benefit financially by selling energy from their EV back to the grid when it’s needed most.
“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,” adds Adams.
