Business

Energy retailer Amber Electric powers up with Charge HQ app takeover

- January 28, 2025 2 MIN READ
Amber cofounders Chris Thompson and Dan Adams
Power retailer Amber Electric has acquired the electric vehicle (EV) smart charging app Charge HQ as the renewables-focused startup positions itself as a key player in the energy management solutions.

The terms of the deal were not disclosed.

Charge HQ allows EV owners to recharge directly from rooftop solar, optimising it based on grid conditions such as electricity prices and renewable energy availability. That allows household energy systems to operate more efficiently in a mix of solar, batteries, and EV chargers.

Amber co-CEO Chris Thompson said the acquisition is a pivotal milestone for the business.

“Charge HQ’s technology is a fantastic addition to Amber’s offering, giving EV owners the ability to charge their vehicles in a way that maximises renewable energy use while also cutting costs,” he said.

“By combining Charge HQ’s capabilities with Amber’s real-time wholesale pricing technology, we’re giving our customers another powerful tool to help them support Australia’s transition to renewable energy.”

The M&A deal comes 12 months after Amber raised $29 million in a Series C led by ASX-listed billing and CRM provider Gentrack.

Previous VC rounds include a $13.4 million Series B extension backed by NRMA and 2021’s $20m series B led by the Commonwealth Bank.

Amber, founded in 2017, previously raised $10 million in a Series A funding co-led by Main Sequence and Square Peg.

Charge HQ cofounder Jay Banyer said Amber “will be a great home” for them thanks to a strong alignment on company mission.

“This partnership will help us expand our impact and reach even more Australians looking for innovative ways to manage their energy usage,” he said.

Amber gives customers access to the real-time dynamic electricity price and the technology to automate their home batteries and EVs to use cheaper renewable power when it’s available in the grid, as well as sell their excess renewable energy back to the grid at a premium price.