Gentrack's Investment in Amber

Gentrack (ASX: $GTK) has invested AUD $12m in Amber as part of a $29m Series C funding round. This investment includes an agreement to further develop and internationally sell an end-to-end solution for billing, care, and optimisation for household batteries, EV chargers, and other smart devices to automate load shifting for customers.

Executive Commentary on the Partnership

Dan Adams, Co-CEO and Co-Founder of Amber Electric, expressed excitement about the strategic partnership with Gentrack, emphasizing the common vision and the potential to reach new markets. Chris Thompson, Co-CEO and Co-Founder of Amber Electric, highlighted the significance of upgrading to Gentrack's leading billing and customer care solution, positioning them to deploy flexible energy solutions globally. Gary Miles, CEO of Gentrack, expressed confidence in the partnership's ability to offer a compelling option to utilities internationally by integrating Gentrack's g2.0 with Amber Electric's SmartShiftTM technology.

Summary of Gentrack's Investment in Amber

Gentrack's investment in Amber, as part of a $29m Series C funding round, aims to enhance and globally license energy optimisation solutions for smart devices. The partnership with Amber will enable the development and international sale of an end-to-end solution for billing, care, and optimisation for household batteries, EV chargers, and other smart devices. This strategic move positions Gentrack and Amber to compete in the fast-growing international utility market for smart device optimisation products. The investment round, led by Gentrack, also includes Breakthrough Victoria and Rubio Impact Ventures as new shareholders. Amber Electric, with its mission to accelerate the renewable transition, plans to license its technology to international utilities, while Gentrack, a long-standing partner with leading utilities, aims to lead today's transformation with g2.0, an end-to-end product-to-profit solution. The partnership signifies a step towards offering compelling energy solutions globally, aligning with the companies' ambitions to accelerate the energy transition and reduce carbon usage for consumers.