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Efficient Energy confident of finding an investor

A management team looking for a new investor (left to right): Thomas Bartmann (market transformation executive), Daniel Porzig (chief technology officer), Georg Dietrich (CEO) and Matthias Adler (chief sales officer)

GERMANY: The administrator of Efficient Energy GmbH, the German manufacturer of chillers using water as the refrigerant, has indicated that he has a number of potential investors for the firm. 

Founded in 2006, and based in Feldkirchen in Bavaria, Efficient Energy filed for insolvency after a search for a new investor failed. The district court in Munich ordered the provisional insolvency administration on 2 June, appointing Dr Matthias Hofmann from law firm Pohlmann Hofmann as the provisional insolvency administrator. 

Under German law, the administrator has three months to find a backer. “Talks with a handful of potential investors are currently entering the final round to find a solution for the technologically exciting company by the end of August 2023,” Hofmann stated on a LinkedIn post.

Hofmann has been working with the management consultancy SGP Corporate Finance to find a suitable investor. Insolvency proceedings will be opened at the beginning of September if no investor can be found. 

Speaking to the German magazine Markt und Mittelstand, recently, administrator Hofmann said: “The timeline is very tight, but I’m confident of finding an investor.”

Efficient Energy has filed over 200 patents developing its Bluezero technology and has commissioned more than 170 systems in recent years. The company with its 100 employees has continued to operate throughout the administration.

Related stories:

Efficient Energy in administration6 June 2023
GERMANY: Efficient Energy GmbH, the German manufacturer of chillers using water as the refrigerant, has filed for insolvency after a search for a new investor failed. Read more…

Efficient Energy claims first climate neutral chiller – 24 February 2022
GERMANY: Efficient Energy, the German company producing chillers using water as the refrigerant, says it has become the refrigeration industry’s first manufacturer to offer climate neutral chillers. Read more…

Efficient Energy receives further funding – 13 April 2020
GERMANY: Efficient Energy, the chiller manufacturer using water as the refrigerant, has secured a further €11m funding from its investors to expand its laboratory infrastructure and production capacities. Read more…

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