Amber Electric secures Series E funding for European expansion

Amber Electric, an Australian energy-flexibility platform, has secured between €49 million and $78.5 million in Series E funding to drive its international expansion, specifically targeting European markets. The funding round was led by 1GT, Morgan Stanley’s climate tech fund, with participation from existing investors including ETF Partners, Innovation Victoria, and the UK energy supplier E. ON.

Founded in Melbourne in 2017, Amber Electric currently holds approximately half of the Australian automated home battery market. The company’s proprietary SmartShift technology uses artificial intelligence to integrate wholesale price forecasts with live household solar and battery data. This allows consumers to optimize energy usage by drawing power when prices are low and selling excess energy back to the grid during price spikes.

The capital injection will support the company’s growth in Europe, building on an existing partnership with E. ON. Additionally, the firm is advancing its vehicle-to-grid (V2G) programs, which enable electric vehicles to interact with the grid to enhance stability and consumer returns.