Hohm Energy

About Hohm Energy

Hohm Energy was established in July 2021 by Tim Ohlsen and Emir Gluhbegovic as a climate-focused financial technology company in South Africa. The venture originated from Ohlsen's prior experience in the energy sector, including founding the digital utility company ELDO in 2013. This background provided the insight that scaling a traditional solar installation business was limited, leading to the development of a software-as-a-service tool to automate and streamline the process. This tool evolved into Hohm Energy's core platform, which was spun out as a standalone climate-tech startup.

The company operated as an online marketplace designed to connect all participants in the rooftop solar value chain. It served homeowners and businesses looking to install solar systems, accredited solar installers, product suppliers, and financial institutions. The business model focused on reducing friction in the complex South African solar market by providing a platform that allowed customers to digitally assess their property's solar needs, receive custom designs, and access financing. For installers, the platform offered tools to design, manage, finance, and procure projects. Revenue was generated by facilitating these transactions within the marketplace. The platform partnered with major South African retail banks like Investec, Nedbank, FNB, and Capitec to embed financing options directly into the customer journey, making solar more accessible.

Hohm Energy's key offering was its proprietary software that automated the generation of custom solar rooftop designs and proposals. This technology streamlined the entire process from initial customer inquiry to installation and maintenance. By February 2024, the company had generated over 17,000 custom solar designs. A significant milestone was the closing of an $8 million seed funding round in February 2024, led by E3 Capital and 4DX Ventures, which was reported as the largest of its kind for a South African tech startup. However, the company's trajectory shifted dramatically in mid-2024. A decline in demand for solar solutions, linked to a reduction in the country's power cuts (load-shedding), combined with high fixed costs and governance issues, led to severe financial distress. The company entered business rescue proceedings in August 2024, halting operations and laying off employees, before ultimately filing for voluntary liquidation in September 2024.