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Australian wholesale electricity retailer Amber has secured a partnership with E.ON Next, one of the UK’s top energy suppliers, in the Melbourne-based company’s first step into an offshore market that gives it access to more than five million new consumers.
The agreement follows an oversubscribed $29 million Series C capital raise earlier this year by Amber as it stepped up plans to expand globally after spending the past seven years assisting Australian consumers transition to renewables and more recently establishing its battery and electric vehicle automation software in the local market.
The partnership will give E.ON Next customers in the UK access to Amber’s technology, marking a major step in Amber’s mission to transform the financial and environmental impact of home batteries and EVs for households around the world.
“We are thrilled to partner with Amber and begin working towards bringing its innovative energy solution to the UK market,” says Chris Norbury, CEO of E.ON UK.
“This is another clear example of the playmaker role we have in making new energy work so that it is not only more affordable but also an asset for our customers and communities.
“By empowering consumers with real-time data and flexible pricing, we are helping to create a more sustainable and economically beneficial energy system for all.”
Founded in 2017 by Top 100 Young Entrepreneurs listers Chris Thompson and Dan Adams, Amber is backed by the likes of Commonwealth Bank (ASX: CBA), NRMA and billing systems provider Gentrack (ASX: GTK), as well as venture capitalists Alberts, Square Peg, Main Sequence and Dutch group Rubio Impact Ventures.
Amber made a splash in 2021 after CBA invested $20 million in the startup as it set about on its mission to support the transition to renewable energy in Australia.
The company’s platform empowers consumers by showing them the percentage of renewables in use at any given time, while also giving them access to real-time wholesale electricity prices and technology that automates devices in the home to use cheaper, renewable power when it’s available in the grid.
Amber says real-time access to energy prices enables consumers to access the full value of their batteries and EVs and remain in control of their energy footprint by not only reducing energy costs but also enabling them to sell stored energy back to the grid at peak times.
The agreement with E.ON Next gives Amber access to the UK supplier’s client base of five million homes and businesses across the United Kingdom.
Amber plans to integrate its model with E.ON’s existing services in a bid to provide cutting-edge solutions that help customers achieve their energy goals.
Unlike traditional fixed-rate energy plans, the Amber model offers an alternative that aligns directly with E.ON Next’s vision for a sustainable and customer-centric future.
“At Amber, we’re passionate about transforming the way people interact with energy, and our partnership with E.ON Next is a significant step in that journey," says Adams, the co-CEO of Amber.
“This collaboration goes beyond providing consumers with the tools to unlock more value from their home battery and EVs. It’s about putting households at the centre of the energy transition.”
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