Australia’s Amber Electric raises €49 million for European expansion. It will automate home energy storage systems

Australian technology provider Amber Electric has raised €49 million in a Series E funding round. The funding from Morgan Stanley’s investment arm and energy group E.ON will support the European rollout of an artificial intelligence platform that automates the operation of home batteries and electric vehicles based on wholesale electricity prices.

€49 million for smart home energy management

The funding round was led by 1GT, a fund managed by Morgan Stanley Investment Management, with significant participation from German energy giant E.ON. Founded in Melbourne in 2017, Amber Electric currently controls more than 50% of Australia’s home battery automation market.

The company stands out with a business model that combines energy retailing with dynamic optimisation of electricity consumption. Instead of fixed tariff rates, customers gain direct access to real-time wholesale electricity prices.

The key pillars of SmartShift technology include:

• AI algorithms – the system combines weather forecasts, solar PV generation and projected real-time electricity prices.
• Automated charging and discharging – the battery charges from the grid or solar PV when electricity is cheapest or free, and exports energy when wholesale prices reach their peak.
• Electric vehicle support – the automation also covers EV chargers, allowing vehicles to draw electricity during the most favourable pricing windows.

European expansion and market competition

The newly raised capital will enable Amber Electric to launch at scale across European markets. In the United Kingdom, the company is already working with E.ON Next on the Next Optimise tariff, launched in March 2026.

In Europe, the Australian startup will face established competitors developing Virtual Power Plant concepts and grid flexibility solutions. Its main rivals include Sweden’s Tibber, Germany’s Next Kraftwerke and Octopus Energy’s UK-based Kraken platform.

Amber’s competitive advantage, however, is expected to come from the full integration of energy retailing with native software for managing residential microgeneration systems and home energy storage.