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Melbourne-based electricity retailer Amber has stepped up its push to transition the market to renewables through the acquisition of Charge HQ, an Australian electric vehicle (EV) smart charging app.
The acquisition is aimed at capitalising on growing demand for smarter energy management solutions with the Charge HQ app designed to help reduce EV charging costs via smart charging from residential solar or off-peak energy.
“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,” says Amber co-founder and co-CEO Chris Thompson.
“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.”
Financial details of the acquisition have not been disclosed, but Amber says the deal aligns with the company’s advancements in vehicle-to-grid (V2G) technology, which it sees playing a significant role in Australia’s sustainable energy future.
Sydney-headquartered Charge HQ was founded by Jay Banyer and Andrew Rogers in 2021 as a cloud based, smart EV charging app.
Amber’s interest in the business has been bolstered by the app gaining “strong support amongst its users for its innovative and practical approach to the management of EV charging” by making it convenient and cost-effective.
Amber says the Charge HQ app is compatible with the majority of OCPP (open charge point protocol) EV chargers currently on the market in Australia.
"Joining Amber means we can bring smarter, more advanced energy solutions to even more Australians,” says Banyer, the Charge HQ co-founder.
“We believe that Amber will be a great home for Charge HQ due to the strong alignment in company mission and focus on building great products for customers.
“This partnership will help us expand our impact and reach even more Australians looking for innovative ways to manage their energy usage."
Amber, which was founded in 2017 by Top 100 Young Entrepreneurs listers Chris Thompson and Dan Adams, is backed by Commonwealth Bank (ASX: CBA), NRMA and billing systems provider Gentrack (ASX: GTK), as well as venture capitalists Alberts, Square Peg, Main Sequence and Dutch group Rubio Impact Ventures.
Early last year, the company raised $29 million in an oversubscribed Series C funding round to accelerate growth in Australia including the release of its V2G automation product and the licensing of its technology to utilities internationally via a white-labelling scheme through Gentrack’s significant utility customer network globally.
In September, the company announced a partnership with E.ON Next, one of the UK’s top energy suppliers, in its first step into an offshore market through a deal that gives Amber access to more than five million new consumers.
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