€49 million investment for Amber Electric

Another big step for the energy transition! Our portfolio partner Amber Electric has raised a €49 million Series E (twice oversubscribed 🔥), led by 1GT, the climate fund of Morgan Stanley Investment Management.

Home batteries only pay off if they’re smart about timing. Amber’s software charges them when solar power is cheap and uses that energy when prices peak. Households pay less, and the grid gets some breathing room.

In Australia, the world’s leading home battery market, more than half of all automated home batteries already run on Amber. Since we invested in 2024, they’ve taken that success to the UK, where E.ON Next now uses Amber’s tech for its smart tariff. And that’s just the start: this round will bring Amber to more European markets.

We’re looking forward to working alongside 1GT and existing investors ETF Partners – The Environmental Technologies Fund, Innovation Victoria and E.ON on Amber’s next chapter.

Congrats Dan Adams, Christopher Thompson and the entire Amber team for showing how much more a home battery can do. Next stop: the rest of Europe 🔋

You can read more about the news in Bloomberg: https://lnkd.in/eV-kxPhe