Amber Raises $29M for EV-to-Grid Expansion

Amber, an energy retailer and tech company, has raised $29 million in Series C funding to expand its vehicle-to-grid systems in Australia and internationally. The funding, led by Gentrack with a $12 million investment, is to support Amber’s Smartshift platform, set to integrate EVs into the grid as renewable energy sources by leveraging the substantial storage capacity of EV batteries. The company’s plans include automating EV charging to optimize renewable energy use and enhance grid stability.