Freeths supported Australian energy technology company Amber on its $78.5 million (£41.47 million) Series E funding round and re-domiciliation to the UK.
The funding round was led by 1GT, Morgan Stanley Investment Management’s climate technology fund, with backing from existing investors including Environmental Technologies Fund, Innovation Victoria, and E.ON.
Malin Svanberg Larsson, partner at Freeths and lead on the transaction, 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.”
Amber, founded in Australia in 2017, gives households access to real-time wholesale electricity prices and uses proprietary technology to automate home batteries and electric vehicles.
The business has grown to become Australia’s largest residential battery automation platform and is now expanding into European markets.
Funding will support Amber’s next phase of growth, including scaling its technology platform in Australia and expanding further across Europe.
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.”
The Freeths team was led by Ms Svanberg Larsson and corporate director Jemil Visram, supported by 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 cross-border transaction was delivered with support from Freeths International’s global network.
Emily Settle, partner and head of international at Freeths, said: “This is another great transaction for Freeths International working closely with our global partners to seamlessly deliver significant cross-border mandates for clients.”
Amber’s technology helps customers maximise the value of renewable energy assets through automation and smart energy management.
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