Gentrack supports Amber fund-raise

Gentrack supports Amber fund-raise to accelerate global expansion of smart energy tech

Gentrack Group Limited (NZX/ASX:GTK) has entered into a contract to make a further investment of AUD4.5m in Amber (https://www.amber.com.au/) as part of an AUD45m funding round.

In February 2024, Amber and Gentrack announced a strategic partnership, with Gentrack investing AUD12m in Amber as part of a Series C funding round. Gentrack and Amber’s partnership positions both businesses to together meet the rising global demand for customer-centric, smart energy services. Amber’s strategy includes licensing its technology through Gentrack’s global network of utility customers, offering bundled solutions that combine Gentrack’s billing and CRM systems with Amber’s automation software.

About Amber

Amber is an Australian technology company and electricity retailer with a mission to shift the world to 100% renewables. Amber gives customers access to the real-time dynamic electricity prices and the technology to automate their home batteries and EVs to use more cheap, renewable power when it’s available in the grid, and sell their excess renewable energy back to the grid at the same price as the big generators earn. Our customers capture the full value of their home batteries and EVs in the energy market while accelerating the renewable transition.

https://www.amber.com.au/

About Gentrack

We are entering a new era, with utilities worldwide transforming to meet business and sustainability targets. For over 35 years Gentrack has been partnering with the world’s leading utilities, and more than 60 energy and water companies rely on us.
Gentrack, with our partners Salesforce and AWS, are leading today’s transformation with g2.0, an end-to-end product-to-profit solution. Using low code / no code, and composable technology, g2.0 allows utilities to launch new propositions in days, reduce cost-to-serve and lead in total experience.

https://www.gentrack.com

ENDS

Contact details regarding this announcement:
Anna Ellis
Company Secretary
Gentrack Group Limited
+64 9 966 6090

Announcement PDF