Hohm Energy Files for Liquidation

Hohm Energy Services filed for voluntary liquidation with the Companies and Intellectual Property Commission (CIPC).

The company informed creditors that those with claims over R1,000 are entitled to nominate a liquidator for the appointment. The solar energy company halted operations due to cash flow challenges and its inability to service existing debts.

Hohm Energy Liquidation Caused By Uninterrupted Power Supply

Hohm Energy’s demise comes as South Africa experiences uninterrupted power supply from Eskom for more than 100 days, which is in stark contrast to a year ago when load shedding was a daily occurrence.

During that period, South Africans were flocking to install solar panels as an alternative energy supply to Eskom.

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According to MyBroadband, the CEO of Spark Energy, Franc Gray, confirmed that all the capital that has been raised was secured by Spark. 

“Spark raised $8 million, but that was really over a period of two-and-a-half years,” he added. 

Furthermore, he highlighted that, “Hohm is obviously a major benefactor of that funding, but it wasn’t the only benefactor, and the money wasn’t just raised to come into a South African entity called Hohm Energy.”

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He explained to MyBroadBand that the important use of the funds was to develop software to enable the solar marketplace, and a large portion of the funding went into developing it.

“That platform is owned by Spark. All the code and everything has always been in the hands of Spark,” said Gray.

“Software in isolation doesn’t really mean anything. It needs to be operationalised. So, the Hohm brand was developed to operationalise that software.”

“It had a really good start at doing that, and the one thing that’s been proven is how well the software actually worked and how well that product going to market worked,” he added.

Also Read: Significant Slowdown in Solar Installations in South Africa

About Hohm Energy

Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy offers homeowners and businesses in South Africa the opportunity to adopt solar solutions by providing them with accredited solar installers, product suppliers, and embedded solar financing. 

The startup’s proprietary platform connects all stakeholders in the solar value chain. It allows solar installers to design, manage, and finance projects, while customers can access their solar needs and obtain credit financing for rooftop installations. 

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