Gera Local Court has ordered provisional insolvency proceedings for Jenabatteries GmbH. The court thus complied with the insolvency application of the company, which specializes in the development and provision of innovative electricity storage solutions. The start-up had run into financial challenges at short notice due to a short-term suspension of shareholder financing.

(Quote from a Jenabatteries GmbH press release)

This development at Jenabatteries GmbH came as a complete surprise to us. Shortly after both main shareholders of Jenabatteries GmbH had put their further financing commitments in writing, our co-shareholder in Jenabatteries GmbH decided to discontinue the shareholder financing that had just been promised.

We are currently gaining an intensive overview of our options for action.

What is important to us in this context is that all obligations entered into with Jenabatteries GmbH have always been fulfilled in full by Ranft as agreed. 

As before, our entire interest remains in maintaining the company and its continuation. One possible solution could be the involvement of another co-investor, and initial talks are already underway. We are also currently examining the possibility of a complete takeover by Ranft.

The usual strong and continuously growing core business in the area of photovoltaic systems and hydropower plants of the Ranft Group in Germany, Austria and Italy is not affected by the situation at Jenabatteries GmbH.

Ranft Immobilien GmbH

A company of the Ranft Group