Morgan Stanley's 1GT leads $56 million funding round in Australia's Amber Electric

Sept. 21 (Reuters) - Morgan Stanley's MS.N Investment Management's (MSIM's) climate-focused private equity strategy has led a €49 million ($56.22 million) Series E funding round in Amber Electric to finance its expansion across Europe, the US company said on Monday.

Here are some details:

• Amber has more than a 50% share in Australia's battery automation market. The technology automates home batteries - charging them when power is cheap and discharging or exporting power when prices rise.
• The company recently partnered with E.ON EONGn.DE, Europe's biggest energy grid operator, which also participated in the latest funding round.
• "The financing will help address rising demand for solutions that enable consumers, utilities and power systems to better manage distributed energy resources and integrate renewable energy at scale," MSIM said.
• "As energy systems become increasingly decentralised, we see a significant opportunity to help utilities unlock the flexibility of distributed energy resources at scale, while helping more households get greater value from the energy assets they already own," said Chris Thompson, co-founder of Amber Electric.
• MSIM's 1GT is a climate-focused private equity strategy that backs growth companies developing decarbonisation solutions across sectors including power, mobility, food and agriculture, and circularity, according to Morgan Stanley's website.

($1 = €0.8715)