Bulb Energy
Energy techUK
💀 Dead / Bankrupt
Peak $1 BillionToday
~-100%
from peak
- 🦄Became a unicorn~2021
- 📈Peak valuation$1 Billion ’21
- 💔Became a UnitardNov 2021
- 💸Last valuation~$0
Current status
Special administration 2022
How it happened
Bulb was a UK green-energy supplier that grew rapidly to serve roughly 1.7 million customers, reaching about a $1B valuation by 2021. It collapsed in November 2021 when soaring wholesale gas prices made its fixed-rate tariffs unsustainable. Bulb was placed into a special administration backstopped by the UK government, and its customer base was later transferred to Octopus Energy.
Source: Sifted