Amber Electric

Founded in 2017 by Chris Thompson and Dan Adams, Amber gives customers dynamic power prices that change depending on the real wholesale value of energy. Customers can pay less by charging your battery when energy is greener and cheaper as well as earn more by exporting when prices increase. Combined with Amber's smart tech, solar and battery owners have the power to supercharge their savings, take control of their battery and make their energy work harder for them. Amber is backed by some of Australia’s best accelerators and investors, including EnergyLab (Australia’s leading energy accelerator) and Startmate (Australia’s leading tech accelerator). Investors include Blackbird, Square Peg, Main Sequence, Commonwealth Bank and Black Sheep Capital. The company has won Startup Vic’s Impact Pitch Night, for the best startup focused on making a positive social impact and been named Victorian Start-up of the Year.

https://www.amber.com.au

51-200 employees

Growth Trajectory

Amber's growth potential lies in expanding its customer base, particularly among EV owners and those with solar and battery systems, and launching Vehicle-to-Grid (V2G) solutions for compatible EVs. They also have the opportunity to expand partnerships with battery and inverter manufacturers, as well as explore new geographic locations within Australia.

Technical Challenges

Optimizing coordination between EV charging and battery systems

Developing Vehicle-to-Grid (V2G) technology

Ensuring compatibility with a wide range of battery and inverter models

Managing the complexities of wholesale electricity pricing

Maintaining system stability and reliability during periods of high price volatility

Tech Stack

SmartShift technologySmart energy appIntegration with Tesla vehicles and OCPP chargersSolarEdge invertersSungrow invertersFronius invertersSmart metersAPI

Team Size

Installers

Partnerships with battery and inverter manufacturers

Key Risks

Fluctuating wholesale electricity prices may deter some customers seeking predictable energy costs.

Competition from traditional energy retailers and other renewable energy providers may limit market share.

Technical hurdles in developing and deploying Vehicle-to-Grid (V2G) technology could delay product development.

Negative feed-in tariff periods may reduce the ROI of battery systems.

Battery warranty concerns related to additional cycles introduced by SmartShift technology.

Opportunities

Expanding EV compatibility to include more EV models and chargers can increase market reach.

Developing advanced algorithms for optimizing energy consumption based on wholesale prices and renewable energy availability can enhance the customer experience.

Partnering with solar and battery providers can create bundled offerings and expand customer acquisition channels.

Leveraging the CommBank partnership to acquire new customers and increase brand awareness.

Expanding the Amberman campaign to new locations can drive brand visibility and customer engagement.

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