Portfolio overview

Amber Electric

Amber Electric is on a mission to drive the grid’s transition to 100% renewable power by allowing everyday households to participate in the benefits of flexibility and storage. With their smart energy services business offering residential customers access to dynamic real time energy prices with frictionless automations of smart devices they optimize flexibility, green energy use, and savings.

The energy flex company giving power to the people

Residential energy use generates over 1 billion tonnes of CO2e emissions globally (4% of total emissions, IEA), requiring a system wide shift to renewable power to cut out fossil fuels. However, deploying more volatile solar and wind energy creates critical instability for the grid because supply is often not matched to demand. More flexibility and storage capacity is needed to enable renewables to enter the grid and Amber unlocks this capability for households.

Amber Electric provides access to the dynamic price of power, incentivising the flexibility and storage that enables more renewables to enter the grid. Their X-factor is Smartshift, a platform that connects home batteries, EV chargers, and smart devices to the dynamic wholesale price of electricity throughout the day, automatically shifting consumption to times when renewables are flooding the grid with cheap, green power (and discharging batteries into the grid when renewables drop away and prices rise).

For Amber Electric we track the impact targets:

➡️: Storage output automated (MW).
➡️: Additional renewables for Amber users compared to grid average (MWh)

SDG Alignment

Smart energy retailer

Amber was founded in Australia in 2019 by Daniel Adams (ex. Tesla, BCG, Make Poverty History) and Christopher Thompson (ex. BCG) who are driven by a mission to automate millions of batteries worldwide for the energy transition – all while helping real people save big on their energy bills.

Amber is well poised for global growth, having demonstrated strong product market fit in the Australian market with rapid expansion of hydrid energy retail and smart asset optimisation business. They have also taken advantage of Australia’s exceptionally high battery adoption, building Smartshift into a world-leading home storage automation technology.

With this headstart, Amber has its sights set on launching Smartshift into the UK & European market, where the market opportunity in the UK represents over €1b alone and the total European market is up to 10x the size. This is riding tailwinds to capture market share as more renewables means more flexibility is required, and grids are modernising to enable companies like Amber to provide this service.