Morgan Stanley Investment Management (MSIM) has announced that its 1GT private climate equity strategy has led a €49 million Series E funding round for Amber Electric, an energy flexibility platform enabling residential users to optimize home energy storage and consumption.
The capital injection will support Amber’s continued growth and expansion across European markets, following a recent strategic partnership with major UK energy provider E.ON, which also participated in the funding round.
Founded in Melbourne in 2017 by Chris Thompson and Dan Adams, Amber operates as an energy retailer in Australia, holding over 50 per cent market share in automated residential battery systems. The company’s Distributed Energy Resources (DER) platform allows households to access wholesale energy pricing by dynamically managing generation and storage assets.
The platform utilizes AI-driven software, known as SmartShift, to analyze real-time forecasts of wholesale electricity prices, household solar production, and consumption patterns. By managing rooftop solar, home batteries, and electric vehicles, the platform aims to enhance grid efficiency, facilitate renewable energy integration, and lower reliance on fossil fuels.
Vikram Raju, Head of Climate Private Equity Investing at MSIM and 1GT, stated that energy flexibility and household-level engagement are essential for scaling renewable energy in increasingly decentralized power systems. He added that the partnership aims to support Amber in building critical infrastructure for a more resilient, low-carbon electricity grid.
Chris Thompson, Co-Founder of Amber Electric, highlighted that the funding provides the necessary backing to expand the company’s Australian energy automation model globally, helping utilities unlock distributed energy flexibility while increasing value for household energy asset owners.
