Virescent Ventures backs Amber expansion
Specialist fund manager Virescent Ventures has invested in Australia’s largest residential solar and battery automation provider, Amber, to back its expansion to take Australian technology to international markets. The CEFC is a foundation stakeholder in Virescent Ventures, which was spun out of the CEFC in 2022, and a cornerstone investor in Virescent Ventures Fund II. Virescent Ventures manages a portfolio of CEFC investments in specialist early-stage climate tech on behalf of the CEFC.
Virescent Ventures media release:
1 October 2025
Virescent Ventures has joined forces with a leading international retailer as part of Amber’s $10 million AUD funding round, supporting the Australian technology company’s expansion into international markets. The raise includes equal investment from Virescent Ventures ($5 million AUD) and E.ON Next UK (£2.5 million / $5 million AUD).
The funding will accelerate Amber’s push to license its platform to utilities overseas, enabling more households to benefit from automation and access to wholesale energy pricing. By turning rooftop solar, batteries, and electric vehicles into grid-supporting assets, Amber’s model is unlocking both customer savings and system-wide decarbonisation benefits.
Founded in 2017, Amber is now Australia’s largest residential solar and battery automation provider, orchestrating more than 40% of the domestic market. With the Federal Government’s Cheaper Home Battery Program already driving rapid growth in installations, Amber is uniquely positioned to ensure those batteries deliver maximum value for households and the grid.
Alex Oppes, Investment Director of Virescent Ventures, said:
“Virescent Ventures is proud to support Amber’s global push to roll out its technology – a great example of an Australian climate-energy technology taking on the world. The Amber model helps accelerate the rollout of rooftop solar and batteries by giving customers better economics and control. In turn, this helps to decarbonise the grid, bringing us closer to net zero.”
Chris Thompson, Co-CEO of Amber, said:
“Having both E.ON and Virescent invest in Amber shows the strength of support for our technology at home and abroad. From a leading Australian climate technology investor to one of Europe’s largest utilities, this backing demonstrates that our model resonates globally. It also reflects the growing recognition that households can take an active role in the energy market, reducing costs and supporting a more flexible system.”
Chris Norbury, Chief Executive of E.ON UK, said:
“Giving people the technology to access dynamic pricing and to optimise the energy generated by their solar panels or stored in their home batteries means you can turn everyday households into a driving force of the energy transition. Our strategic investment in Amber is another clear example of our playmaker role in making new energy work so it is not only more affordable but also an asset for our customers and communities.”
E.ON’s investment builds on the launch of Next Solar Max, a UK smart energy pilot that is trialling Amber’s technology with up to 1,000 households. It is the first time UK customers with solar and batteries will be able to combine a dynamic electricity tariff with intelligent home energy management.
Amber’s international momentum highlights the appetite among major utilities and institutional investors to collaborate with innovative technology companies that can empower customers and accelerate the transition to a smarter, cleaner energy system.
