Independent energy supplier Brighter World Energy (BWE) has closed its doors, claiming current market conditions are not conducive to a sustainable business model.
In a statement published on the company’s website Cheryl Latham, founder and chief exec at BWE confirmed that effective immediately all of its customers have been transferred over to Robin Hood Energy.
The supplier launched in late 2016 under a white label partnership with Nottingham Council-owned Robin Hood Energy with the intention of becoming a “socially conscious” energy supplier.
Having secured around £500,000 in seed funding, BWE pledged to install a solar-powered microgrid for rural communities in Africa for every 2,000 customers that signed up to its tariffs.
But the venture has proven short lived, with the highly competitive domestic supply market proving too much for BWE.
“As a small, disruptive start-up, we set out on an ambitious mission to make energy fairer for everyone, and we have always worked with integrity and determination at the heart of that mission.
“We have taken the tough, but responsible, decision to close at this time, because we no longer believe that market conditions, or our underlying operation, make for a sustainable business model in the long term,” Latham wrote.
All remaining funds at the firm are to be donated to BWE’s charity partner Renewable World with the aim of establishing a solar farm for a women’s fishing village near Lake Victoria, Kenya.