Amidst South Africa’s deepening energy crisis, exacerbated by escalating power shortages and daily electricity rationing to avert a nationwide grid collapse, Hohm Energy, a Climate Fintech, emerges as a beacon of sustainable energy solutions. With Eskom, the state-run power generator, acknowledging a staggering power shortfall exceeding 6,000 megawatts, Hohm Energy steps in to provide an alternative energy source to the country’s 7.7 million addressable households, alleviating pressure on the national grid.
Having generated over 17,000 custom solar rooftop designs through its solar proposal engine, valued at $190 million, and facilitating over $90 million in finance applications to retail banking partners, Hohm Energy celebrates a significant milestone with the successful closure of its $8 million Seed round. This funding, the largest seed round for a tech startup in South Africa, is spearheaded by E3 Capital and 4DX Ventures and supported by a consortium of prominent investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures.
Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy revolutionizes the entire solar journey with its proprietary software platform and marketplace, streamlining design, scheduling, and procurement processes for installers and enhancing accessibility for buyers in South Africa’s complex $51.4 billion rooftop solar market. By leveraging technology, Hohm Energy addresses challenges in the sector, mitigating delays, installation flaws, compliance risks, and financing obstacles.
For solar installers, Hohm Energy offers an opportunity to gain trust and efficiently manage, design, finance, and procure solar projects. Customers benefit from digitally determining their properties’ solar energy requirements through the platform, gaining access to credit financing, and navigating an order and fulfillment process inclusive of after-sales services like repair and maintenance.
Partnering with South Africa’s leading retail financial institutions, including Investec, Nedbank, MFC, FNB, Wesbank, and Capitec, Hohm Energy facilitates structured financing, while also introducing a solar subscription service powered by Glint, democratizing solar access with a digital purchasing experience.
Tim Ohlsen, CEO of Hohm Energy, emphasizes the critical role of ClimateTech in addressing South Africa’s energy challenges, underscoring the company’s commitment to scalability and sustainability. With support from global investors who share their vision, Hohm Energy aims to accelerate rooftop solar adoption through cutting-edge climate fintech strategies and investment in technology, product innovation, and solar installer skills development.
The company’s focus on launching the Hohm School program, aimed at training and empowering local solar installers through the Hohm Energy Standard for Solar Systems Installations (HESSSI), reflects its dedication to fostering industry growth and ensuring solar energy accessibility, trust, and affordability for all stakeholders across the region.
