Hohm Energy Facing Financial Constraints, 8 Months After Raising $8 Million In Seed Funding
- Hohm Energy has exercised a 'business rescue' in South Africa due to financial distress.
- The business rescue process will last three months and involve investigations and meetings with creditors.
- The company has laid off employees and its CEO has left.
The cash flow problems and operational issues faced by Hohm Energy are concerning for the company's future. The layoff of employees and departure of the CEO indicate significant challenges. The reduced demand for solar due to improved grid issues adds further obstacles.
