Liberty Global acquires The Phoenix Works to further drive expansion

The Phoenix Works solar PV, battery storage and end-to-end EV charging business has been acquired by Liberty Global.

The step follows Retig, the former parent company of the company, going into administration in September. Consequently, in October, the energy firm Tonik Energy, also owned by the company, went bust.

Since then the co-founders and directors of The Phoenix Works, Thomas Newby and Matthew Morgan, have accelerated the process of finding a new strategic investor, contributing to Liberty Global's acquisition.

Newby said that a "great opportunity for us and an exciting moment for The Phoenix Works" was to become part of the community.

"Liberty Global shares our deep-rooted entrepreneurial, start-up energy and our ambitious growth plans over the coming years are highly supportive."

Newby and Morgan will remain as directors as part of the deal, while the Board of Directors will be replaced by Jonathan Pearson, Liberty Global's MD, capital allocation and business control, and Jason Simpson, Group Head of Resources.

The acquisition of Liberty Global, which mainly focuses on video, broadband and communication companies and owns Virgin Media, will enable The Phoenix Works to continue to grow, with a particular focus on EVs after the recent news that the internal combustion vehicle ban is being brought forward to 2030.

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