Queensland-based battery manufacturer RedEarth Energy Storage, once poised to challenge major industry players like Tesla, has entered administration and now faces significant financial difficulties, owing nearly $3 million to unsecured creditors, according to a recent report.
The company, which operates out of Darra, Brisbane, designs and distributes solar batteries and accompanying software across Australia. It appointed administrator Travis Pullen from B & T Advisory on September 25 after experiencing ongoing financial challenges.
RedEarth’s board includes notable figures such as Albert Tse, former son-in-law of ex-Prime Minister Kevin Rudd, stockbroker Hugh Robertson Jr, Marc Sheldon, and Trent Donnelly, private capital director at Ord Minnett. In a report submitted to the Australian Securities and Investments Commission (ASIC) last Friday, Donnelly disclosed the company’s outstanding debts amount to nearly $4 million owed to unsecured creditors.
Among the creditor claims are $1.45 million owed to employees in unpaid wages, superannuation, and entitlements, while Bush Grid, a remote solar installation firm, is listed as being owed $1.8 million for a deposit. Other creditors include Fife Asset Services ($212,850), the Australian Taxation Office ($201,212), Coterie Capital ($141,000), Metal Tech Industries ($121,058), and accountancy firm Grant Thornton ($70,000). The report did not record any secured or related-party debts, although the parent company, RedEarth Group Australia, is said to be owed more than $5.5 million.
Federal Energy Minister Chris Bowen publicly referenced owning a RedEarth battery during his speech at the Smart Energy 2024 Conference and Expo. He recounted visiting the company’s stand at the previous year's event and subsequently installing one of its batteries at his home to support the grid more efficiently. There is no indication of any misconduct involving Bowen in relation to the company.
While the status of Minister Bowen’s unit remains unclear, customer feedback on RedEarth’s products has been mixed, with several online complaints expressing dissatisfaction with performance and service. One review stated customers would prefer a refund over retaining the product, though the company’s ability to provide refunds appears limited. Donnelly’s report noted that RedEarth’s tangible assets are primarily improvements made to its leased warehouse, along with a small fleet of vehicles and around $149,000 in cash.
Financial statements for the year ended June 2025 show RedEarth’s sales decreased from $13.67 million to $11.35 million, with a net loss of $4.62 million following an $11 million loss the previous year. Some employees have reported being owed upwards of $145,000 in unpaid remuneration.
The administration process seeks to clarify the company’s financial position amid these mounting debts and explore potential pathways forward.