Australian battery platform Amber secures funding for European expansion
Australian energy startup Amber secured funding led by Morgan Stanley's climate tech fund to expand across Europe.
Australian energy startup Amber raised funds to expand across Europe. The round was led by 1GT, Morgan Stanley's climate tech fund, with support from UK utility E.ON.
Amber has built Australia's largest residential battery automation product, controlling around half the local market. The platform lets householders with batteries or electric vehicles access real-time electricity prices and sell excess energy back to the grid at wholesale rates.
Founded in 2017, Amber has previously raised $45 million in a Series D round and $29 million in a Series C round. Co-CEO Chris Thompson said the new funding will extend Amber's leadership from Australia into Europe.
- Around half
- Market share in Australia
- 13.6 million dollars
- ARENA funding for V2G homes
- 10 million dollars 12 months ago
- E.ON investment timing
- 2017
- Founded
Why it mattersHome battery owners and EV drivers could earn money by selling power back to the grid during peak demand, making renewable energy more accessible.
AustraliaAmber's European expansion shows investor confidence in Australian clean-energy technology and extends cost-saving opportunities for households using battery storage.
✓ Claims checked against the source and corrected before publish. checked 3 d ago
