Freeths advises Amber on Series E funding round and UK move

Leading law firm Freeths has advised Australian energy technology company and electricity retailer Amber on its $78.5 million Series E funding round and the re-domiciliation of the group to the UK.

The nearly twice oversubscribed round was led by 1GT, Morgan Stanley Investment Management’s climate technology fund, with participation from existing investors including Environmental Technologies Fund, Innovation Victoria and E.ON.

Founded in Australia in 2017, Amber gives households direct access to real-time wholesale electricity prices and uses proprietary technology to automate home batteries and electric vehicles, helping customers maximise the value of renewable energy assets. The business has become Australia’s largest residential battery automation platform and is accelerating its expansion across European markets.

The funding round will support Amber’s next phase of growth, providing capital to scale its technology platform in Australia, expand across Europe and continue investing in products that enable a smarter and more flexible energy system.

The Freeths team was led by Corporate Partner Malin Svanberg Larsson and Corporate Director Jemil Visram supported by Corporate Senior Associates Braydon Cordingley and Shivani Fakey, Tax Partner Claire Boyce, Corporate Trainee Solicitors Harriet Welch and Adam Tolefree and Dispute Resolution Trainee Solicitor Anna Conisbee.

The transaction was an international mandate involving multiple jurisdictions and was supported through Freeths International’s network of global partner firms.

Commenting on the deal, Malin Svanberg Larsson, Partner, Corporate said: “Amber is an ambitious business with international growth firmly in its sights. This was a complex transaction, combining a substantial international fundraise with a cross-border reorganisation involving multiple workstreams.  Working closely with the Amber team, Kain Lawyers and the investor-side advisers was key to bringing everything together. We look forward to seeing what comes next for Amber as it continues its growth from its new UK base.”

Sarah Eichler, Chief Financial Officer at Amber, said: “This investment represents an important step in Amber's growth as we continue to develop innovative products that help households unlock greater value from renewable energy. Welcoming 1GT as our lead investor alongside continued support from our existing investors is a strong endorsement of our platform and mission.

“The Freeths team, led by Jemil, Braydon and Malin, provided excellent support throughout this complex, multi-jurisdictional transaction. Their technical expertise and commercial approach helped keep the process on track, and we are grateful for their guidance and collaboration in bringing the transaction to a successful close.”

Emily Settle, Partner and Head of International at Freeths, added: “This is another great transaction for Freeths International working closely with our global partners to seamlessly deliver significant cross-border mandates for clients.”