Chris from Amber Electric retweetledi

Some of my friends think it's a bit comical that I'm in a Facebook community group about my electricity retailer. But I really do believe that what @AmberElectricAU is doing in Australia is something special. The news that Amber have completed their Series C funding round is very exciting for them.
For those that don't know, Amber is an electricity retailer that sells power based on wholesale prices that, in Australia, change every 5 minutes. In my home I have 4.3kW of solar panels, 27kWh of batteries and a 7kWh PHEV. I'm able to allow Amber's SmartShift technology to buy and sell power at variable rates across the day, literally buying when the price is low (sometimes negative) and selling back to the grid when the price is high (sometimes very high).
My total electricity bill for 2023, which covered our entire home plus probably 80% of our driving, was $280. As far as I'm aware, there is no other retailer in the world offering a system as sophisticated as Amber. Deploying more renewable and batteries is obviously very important but being smarter about how we use electricity, by time-shifting demand, is also of huge importance.
I noted a few things from today's fundraising announcement:
Amber has over 30,000 customers and 50% of those joined in the past 6 months.
The lead investor, Gentrack, has "cemented a strategic partnership with Amber to bundle its billing and customer care with Amber’s battery and EV automation software". That sounds promising with respect to further improving customer service.
Amber is "now at the stage where we are ready to licence our technology globally." For my friends overseas, I think this is great news.
$29 million is a lot but I'm sure they'll have plans to spend that pretty quick. I look forward to the next stage of Amber's (r)evolution.
amber.com.au/blog/asx-gentr…
Amber Electric@AmberElectricAU
Exciting news! Amber has raised $29M in Series C funding to scale in Australia, launch our EV product & go global! Thanks to our lead investors @Gentrack and Rubio Impact, Alberts, and Startmate who are also investing in this round. amber.com.au/blog/asx-gentr…
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