Australian home battery maker out of administration and “here to stay” under new owners

Australian-owned and operated battery and smart inverter outfit Redback Technologies has come out of voluntary administration and is back in business under the control of new owners, Australia Ebon Group.

The Brisbane-based company went into voluntary administration in March, just days after being a part of the Smart Energy Conference in Sydney, where it was promoting its new Hybrid Battery System.

In a statement on Friday, Redback said it has “a reinvigorated and bright future,” with the new ownership allowing it to continue creating Australian-engineered, sustainable energy solutions for homes and businesses.

“I am thrilled to say that Redback Technologies is here to stay,” said Redback Technologies CEO Adrian Knack, who thanked adminstrators McGrath Nicol for their “invaluable guidance” during the company’s restructuring.

“Our commitment to providing high-quality Australian-engineered solutions remains unwavering, and we are proud to continue our operations under new investment.

“We are excited to officially release our next-generation hybrid battery system in the future, further solidifying our position as innovators in the renewable energy landscape.”

Ebon Group is described as an Australia-based fintech company that has made substantial investments in cloud technology and dedicated in- house developed trading platforms.

The companies say Ebon aims to make sustainable investments in the Redback business to ensure its continued operation and support research and development efforts to enable new products and solutions.

Redback says its local tech support and warranty teams continue to support installers with Redback Technologies’ systems and all Redback warranty policies remain intact and unaffected by the new ownership.