I don’t know who’s bigger or has more money.
EG4 is a manufacturer
Signature is a distributor
Both are in the same town
Some one on this site said EG4 said they bought OB.
EG 4 makes more sense as they would have lots of Chinese manufacturing contacts. If OB is coming out with new products, I’d expect they are coming out of China. I could easily see them partnering with any of the large Chinese companies.
I guess we will know soon.
Jay
On May 20, 2024, at 6:16 PM, Steve Higgins via RE-wrenches <re-wrenches@lists.re-wrenches.org> wrote:
At Intersolar (January) San Diego, I heard Bigbatterybox.com purchased Outback. Since then, I've heard it may be Signature Solar. I am unsure who purchased them, but with them being so close to Signature Solar, that makes sense. I'm not sure who purchased them, but they have been asleep at the wheel since then. They can't sell any product in Canada because they have let their CSA certificates lapse.
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So here is the scoop, I got it that outback is moving to Dallas and will still be a premium product, and yes the optics shut down had something to do with the sale. Everyone hold on as they say they have new products at SPI this fall. Keep your fingers crossed and let's all wait patiently. Fun times
I started poking through EnerSys's (The most recent owner of Outback) SEC filings in hopes to find who the new buyer is. I found nothing related to the sale but found this in their most recent quarterly report :
On November 8, 2023, the Company's Board of Directors approved a plan to stop production and operations of residential renewable energy products, which include our OutBack and Mojave brands. Management determined that residential renewable energy products no longer fit with the company’s core strategy and resources will be better allocated toward commercial energy solutions for enterprise customers. The Company currently estimates that the total charges for these actions will amount to $23.5 million relating primarily to $22.6 million in non-cash charges primarily including inventory and an indefinite-lived intangible asset write-offs and $0.9 million in cash charges including employee severance and retention payments. The plan is expected to be completed in fiscal 2024. During the nine months of fiscal 2024, the Company recorded non-cash charges totaling $6.6 million primarily related to indefinite-lived intangible asset write-off and cash charges of $0.4 million related to severance costs. The Company also recorded a non-cash write off relating to inventories of $16.1 million, which was reported in cost of goods sold.
To say I am curious about what is going on is an understatement.
Aloha,
Lou Russo Owner 808 345 6762 Spree Solar Systems LLC CT-34322
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