One of Britain's biggest battery storage manufacturers has collapsed into administration, leaving all employees without jobs.
According to the administrator's statement, no further goods or services should be supplied to the company.
GivEnergy Ltd, which designs and produces energy storage systems for homes and businesses across the UK and internationally, appointed Christopher Brooksbank of CB Business Recovery as administrator on April 9 in Leeds.
The firm has stopped trading entirely and dismissed its entire workforce.
Financial records lodged with Companies House reveal the business suffered a loss after tax of approximately £5.4million for the year ending December 2024, a dramatic reversal from the £4.8million profit recorded the previous year.
Despite generating £50.3 million in revenue during that period, the company held just £41,470 in cash reserves.
The company's own annual report pointed to internal failings as the primary cause of its downfall.
Management attributed the collapse to poor leadership and flawed strategic decisions by the former chief executive, who failed to respond adequately to aggressive price cuts from overseas rivals.
The report also cited a lack of proper oversight from the previous finance director.
Ironically, the business had experienced robust demand during the first half of 2024 following the introduction of VAT exemption on battery storage systems from February 1.
The company's own annual report pointed to internal failings as the primary cause of its downfall
| PAHowever, the firm proved unable to capitalise on this momentum as competition intensified.
Foreign manufacturers offering significantly cheaper products captured market share while GivEnergy's leadership failed to adapt its pricing or strategy accordingly.
Customers who already own GivEnergy batteries can continue operating their systems without disruption. The app and online portal are run by GivEnergy Software Ltd, a separate company within the group that has not entered administration.
However, the outlook for warranty claims is far less reassuring. The Energy Storage Association has warned that guarantees can only be enforced against GivEnergy itself, meaning the company's closure will likely render these protections worthless.
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Those affected may still have recourse through alternative channels. The ESA advises customers to contact their original seller, whether that be an energy supplier, installer, or wholesaler.
Additionally, anyone who paid by credit card could potentially recover costs through section 75 protections under the Consumer Credit Act 1974.
Renewable energy wholesaler Midsummer Energy, which has removed GivEnergy products from its catalogue, described the situation as "a serious setback for the industry as a whole."
The company had previously claimed to hold around 35 per cent of the UK home battery market, making its failure particularly significant for the sector.
The Energy Storage Association is now collaborating with the Department for Energy Security and Net Zero
| GETTYThe Energy Storage Association, of which GivEnergy was a founding member, is now collaborating with the Department for Energy Security and Net Zero to examine the case and develop measures ensuring service continuity should other firms in the sector face similar difficulties.
The trade body has sought to reassure the wider market, stating it does not view GivEnergy's troubles as representative of broader industry health, which it maintains remains an attractive growth sector.