Very basic Ember.Handlebars compiling with RequireJS and the text plugin.

hbs.js

/* RequireJS Ember.Handlebars Plugin v0.1.0
 * Copyright 2012, Tim Branyen (@tbranyen)
 * hbs.js may be freely distributed under the MIT license.
 */
define(["ember", "text"], function(Ember) {

  var hbs = {
    version: "0.1.0",

    // Invoked by the AMD builder, passed the path to resolve, the require
    // function, done callback, and the configuration options.
    load: function(name, req, load, config) {
      // Dojo provides access to the config object through the req function.
      if (!config) {
        config = require.rawConfig;
      }

      var tpl = config.hbs;

      // Get the text for the template and compile it for Ember.
      req(["text!" + tpl.prefix + name + "." + tpl.ext], function(contents) {
        // Use global for now (maybe this?)
        return load(Ember.Handlebars.compile(contents));
      });
    }
  };

  return hbs;

});

would be good to precompile the templates during build, see: jfparadis/requirejs-handlebars#1