Amber Solutions Closes 2020 With Series B Funding Totaling More Than $8.5 Million

Monday, 25 January 2021, 22:00 HKT/SGT

Company's advances in technology, patent portfolio, industry awards and partner discussions drive increased investor interest.

DUBLIN, CALIFORNIA , Jan 25, 2021 - (ACN Newswire) - Amber Solutions, the young Silicon Valley company that is making the digital control of electricity in solid-state architecture a commercial reality, today announced that its 2020 series B funding round raised more than $8.5 million from new and existing investors, following a successful year of secured patents, partner discussions and multiple industry award wins.

According to Amber Founder and CEO Thar Casey, the company's progress in 2020 is all the more remarkable given the challenges posed to the business by the COVID-19 pandemic and related lockdowns that prevented most, if not all, in person product demonstrations.

"2020 presented a challenging business climate, but our commitment to revolutionize the world's building electrical infrastructure helped Amber enter 2021 with increased investment, new patents, as well as multiple industry award wins and nominations," Casey said. "Amber's progress is a sign of the accelerating demand from major electrical product manufacturers for solid-state electrification technologies and its ability to completely disrupt and transform the enormous global market for electrical products and services."

In addition to securing patents related to a digital AC/DC Enabler, an AC switch, a digital method to sense ground faults, and super-efficient LED light fixtures in 2020, Amber started 2021 as a BIG Innovations 2021 Award winner, a CES 2021 Innovations Award honoree, and is currently a 2021 Edison Award nominee.

Amber's core innovation is a programmable solid-state power system that has a clear path to an even-smaller silicon chip version. Amber's system controls the flow of electricity digitally, enabling unique integration of modern intelligence into building electrical products and infrastructure. The solution introduces the world to a much safer, more reliable and dramatically smarter alternative to the 1970's era electro-mechanical components that are used in nearly all modern electrical infrastructure products.

"Amber's patents and innovations are rapidly driving demand for the development of intelligent solid-state based products including two-wire dimmer switches, ultra-efficient commercial LED light fixtures, smart light switches, smart outlets, smart circuit breakers, and more," Casey added. "Based on heightened industry interest, growing investments and ever-increasing energy efficiency goals around the globe, we believe 2021 will be the year solid-state electrification moves from validation to commercialization and mainstream productization."

About Amber Solutions

Amber Solutions is a leading developer of patented, innovative solid-state technologies for the digital control of electricity. The company's disruptive breakthroughs change the electrical landscape forever for buildings and appliances world-wide. These technologies upgrade power management from 1950's era electro-mechanical to safer, more reliable solid-state architecture with embedded intelligence. Based in Dublin, California, the company is leveraging the expertise of Silicon Valley professionals to deliver a disruptive enhancement to the value and functionality of the world's electrical endpoints and infrastructure. For more information visit www.ambersi.com.

Topic: Press release summary
Source: Amber Solutions
Sectors: Electronics, Engineering, Automation [IoT]
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